Commercial Package Insurance
Commercial package business insurance policies provide both liability and property coverage for businesses. Generally, consumers that utilize commercial packages will be small or medium businesses that need multiple types of coverage. In some ways, commercial packages are similar to Business Owner’s Policies; however they may offer more flexibility for business owners seeking to consolidate their coverage and policies. However, they may not offer the same types of bundling discounts that you can find in a Business Owners Policies or the same variety of insurance available under those policies.
Commercial packages will generally offer the following types of coverage: commercial property coverage, commercial general liability coverage, and commercial vehicle coverage. Commercial property coverage protects real property, business personal property, and inventory and can be customized to either cover the replacement cost value of the property or the actual cash value. Commercial general liability coverage protects you against claims made against the business due to negligence or wrongdoing and often includes a clause providing legal representation to fight those claims. Commercial vehicle coverage provides coverage for cars, trucks, motorcycles, boats, and other vehicles used for the business and can provide either liability or comprehensive protection. The combination of coverage selected can be tailored to meet premium and deductible goals.