Pros and Cons of Commercial Package Insurance

Are you wondering if a commercial package policy is right for your company? There are many benefits to this type of insurance, but it may not be the right choice for every business.

One main reasons that you might want to purchase a commercial package policy rather than a standard business owners policy is that it gives you the opportunity to tailor your business insurance to fit the specific needs of your company. Most commercial package policies include basic property and liability coverage, and then you can choose from a variety of other insurance products to meet the specific needs of your business.

When you bundle your business insurance products under one carrier, you can simplify your insurance portfolio. It can also cost less than the same coverage purchased individually from more than one carrier, due to package discounts.

However, there are some additional types of insurance that are not included in a commercial package policy. These include life, health, and disability insurance for your employees as well as workers compensation. These types of coverages must be purchased under separate policies.

Also, a customized package of insurance can cost more than a standard business owners policy because the coverage is more comprehensive.

A commercial package policy is a good choice for many businesses. Is it right for yours?