Many companies have benefited greatly by customizing their business insurance coverages using a single provider. While many opt for a business owners policy or BOP, some realize they’ll get the specific coverage needed by utilizing a commercial package policy in Carmel. These packaged policies are equipped with a wider range of options not offered with a BOP. This can mean additional flexibility for your business by tailoring the coverage to meet its current needs.


Insurance companies typically write commercial package policies (CPPs) for small to mid-sized businesses since these types of organizations may have smaller liability needs. In most cases, because they don’t operate large facilities they merely require insurance protection for far smaller risks. For example, a manufacturer of children’s board games is less likely to require the same amount of coverage that a real estate developer needs.


While most CPPs can contain general liability and property coverage, there is an array of coverage options available, including business income, electronic data processing, commercial crime, and business auto, all of which are among the top selections for many companies that decide on a CPP.


Other coverages vital to certain types of businesses


Companies heavily dependent on machinery (such as manufacturers), or computers (ITT) would benefit from equipment breakdown, or boiler and machinery coverage. An inland marine policy might be a part of your CPP if you’re in logistics or the transportation industry. Depending on the type of business, you’ll want to bundle policies in line with the type of risks that you may incur.


Your equipment and your employees are the most important factors in keeping your operations running smoothly and efficiently. For example, a costly equipment breakdown could result in lost income lasting for several days without a policy in place that deals directly with equipment malfunctions.


If you have a covered property loss and your business is forced to close temporarily, business income coverage can help you replace lost net income, pay for continuing expenses, including relocation expenses in the event that you have to set up shop at a temporary location.


A commercial package policy in Carmel provides greater flexibility when insuring your business, so speak to a reputable agent about how to go about securing many of these important coverage options.