commercial package policy insurance

A Combined Approach to Insurance

Commercial companies looking for liability insurance have many options to choose from for quality coverage. Depending on the operations, the company may require a commercial auto policy, a business owners’ policy, commercial property coverage, and even errors and omissions coverage. With commercial package policy insurance, several coverage needs are bundled into a single policy.

Benefits of a Combined Policy

The primary function of a package policy is to address the property concerns and operational liabilities a company may face. By combining coverage plans, the premium is usually much more affordable than separate policy purchases. Because business needs can vary by industry and size, the types of combination packages might include more specific items like builder’s risk, business interruption, and commercial vehicle.

Other Coverage Needed

A commercial package policy insurance plan will not address all of your company’s liabilities. Federal regulations require offering employee benefits that packed policies do not usually cover.

These include:

Health insurance
Workers compensation
Disability coverage

These policies also do not address the liabilities present by errors and omissions liabilities. Your company would still need to purchase a separate policy for this area.
Companies that could benefit from a commercial package policy would include churches, machinery companies, restaurants, schools, and health care facilities or providers. Contact a local agent to see if some of your policies could be combined into a single plan.