Commercial Package Policies: Not Your Standard Business Insurance

Carmel, a commercial package policy

As an entrepreneur in Carmel, you might already be familiar with unique elements of your community that affect your business. Just as location affects your operation procedures, marketing, customer base and risk factors, your chosen industries also affect the risks and types of losses you might incur. For your business in Carmel, a commercial package policy may be just the answer to your company’s distinctive challenges and concerns.

What Is a Commercial Package Policy?

Understanding what commercially packaged insurance is and how it differs from standard business owner policies is vital. A business owner policy, or BOP, usually includes liability and property coverage, business interruption coverage, and other types of insurance products that are standard for your industries. In contrast, a commercial package solution is crafted by bundling several different products together based on your risk factors. In this manner, you’re able to dictate what coverages you purchase and forgo the ones you don’t need. Extra additions such as business auto, crime, inland marine and cyber liability are the most common selections.

Shielding against major losses is a high priority for your business in Carmel. A commercial package policy could be the most optimal solution to guard against your company’s individualized risks. Your insurance agent should work with you to help you craft a package that best suits your enterprises needs.