Small Businesses Need Commercial Package Policy. Here's Why

COVID-19 has made it challenging for small businesses to stay afloat. Social distancing and new normal health protocols are shuttering their business operations. The pandemic has exposed the vulnerabilities of small businesses from any significant disruption.

In the United States, small businesses are employing about 50% of the private sector workforce. It shows that small businesses are vital to the US economy. Workers in small businesses are also the most vulnerable to the pandemic.

The health crisis has brought so many uncertainties to the economy. The only option that small businesses have is to implement measures to cope with the current situation. Commercial Package Policy provides liability and property coverage for your business.

Small businesses are also vulnerable to financial losses from a lawsuit or property damage. And your best defense against these is Commercial Package Policy. It is designed to answer the needs of small businesses. The policy combines two or more insurance coverage in a single policy package. As a result, the total premium is lower than paying the premium policies separately.

For example, your Commercial Package Policy can bundle business liability and auto insurance in a single policy. But you can also expand it to cover inland marine and business vehicle insurance.



In most instances, the Commercial Package Policy starts with property and general liability insurance. Property insurance provides business owners coverage from any damages or destruction sustained by business properties such as equipment, buildings, and inventory. Meanwhile, if someone got injured at your business property or while using your product, general liability insurance can cover the cost associated with it.

Aside from property insurance and general liability insurance, you further customized your package by adding these other coverages:

From there, you can further customize your policy by adding other coverages to your CPP, as follows:



• Business interruption insurance can cover your lost revenues due to the stoppage of business operations.
• Business vehicle insurance to provide coverage for company-owned vehicles.
• Business crime insurance to protect your business from computer fraud, burglary, and other business crimes.
• Equipment breakdown provides coverage from losses when machinery malfunctions such as telephone, electrical, or air conditioning systems.

The Commercial Package Policy is highly flexible. You customize its coverage depending on the needs of your business. Thus, it is essential to identify the circumstances that your business is most vulnerable to and tailor a policy around it to maximize your protection.

At Brad Spurgeon Insurance Agency Inc., we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (409) 945-4746. You can also request a free quote by CLICKING HERE.