Small businesses generally face the same exposure and degree of risk. For these types of companies, a Businessowners Policy (BOP) may offer a bundled coverage solution, providing protection for property and liability coverage without specialized risks. However, if your business is growing in size, this usually means it is changing in complexity as well, and therefore, you will be facing specialized risks based on the nature of your business. When this occurs, you may want to specialize your insurance portfolio in order to customize your policies to fit your needs, based on the specific risks you face. You may want to consider a commercial package policy.
Customized solutions under one commercial insurance portfolio
Commercial package policy (CPP) enables you to bundle various types of coverage in one insurance portfolio for your business. These commercial package policies are available for a wide range of businesses, allowing coverage customization to the specific needs of your business. Some of the coverages available are as follows:
- Property Insurance
- General Liability Insurance
- Business Income Insurance
- Business Vehicle (or Fleet) Insurance
- Business Crime Insurance
- Commercial Umbrella Liability
- Electronic Data Processing Coverage
- Equipment Breakdown
- Employment Practices Liability
- Inland Marine
- Pollution Liability
- Professional Liability
It is important to recognize that there are coverages which are NOT added to a commercial package policy. Some of these are worker’s compensation, health, disability, life, or directors and officers liability. It is vital to make sure and speak to an insurance professional who will not leave you exposed. At MirState Insurance, we will help you find the right coverage, the right carrier for the best price!