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Building an Effective Commercial Package Policy in Carmel

commercial package policy in Carmel

Most successful business owners will tell you that having the right insurance coverage can be the difference between protecting your business from common risks that exist or exposing yourself to liability issues. For a lot of small businesses, happy with a standard package of liability and property coverage, a Business Owners Policy, also known as a BOP, offers exactly the type of coverage they want and need.

But for some, having a company that is quickly growing in size, and perhaps expanding in the types of services they provide, and realizing that they may soon be facing additional risks due to the type of business they perform, they might be better served by purchasing a commercial package policy in Carmel, or CPP insurance.

A CPP offers options uniquely different from a BOP

The type of protection offered through a BOP includes the property you currently own, lease or rent. Companies that sell business insurance offer policies that combine protection against all major property and liability risks in one package. While you could purchase these coverages separately, by getting it all in one package, as do many small and mid-sized businesses, you can save money and still have better than adequate protection in place.

The general liability portion of your policy covers costs related to litigation and court judgments in the event you or one of your employees are sued. You also have the option to add additional coverages you may wish to purchase, such as cyber coverage if your business is responsible for private or confidential customer information.

Like a BOP, CPP insurance enables you to bundle various types of coverage within a single policy. However, a BOP does have certain limitations because it’s designed for certain types of small businesses, and covers fewer risks, as where a commercial package policy in Carmel is made available for a more diverse group of businesses. A CPP can be customized to meet the specific needs of your company.

You may wish to add a wider range of coverages to your CPP, including inland marine coverage, EPLI, or umbrella coverage in line with specific exposures you want to address. Speak to an agent about the options available under this flexible insurance package.