A few common coverages that many commercial package policies offer and most businesses can benefit from are:

• General Liability Coverage, which offers protection from a number of potential liability claims
• Commercial Property Coverage, which might offer protection for a business’ building or other property
• Commercial Auto Coverage, which Massachusetts businesses that own vehicles are usually required to carry
• Business Interruption Coverage, which may offer protection for certain interruptions in daily operations that lead to revenue losses
• Employment Practice Liability Coverage, which might offer protection from liability suits related to employment decisions

What Benefits Does Bundling Policies in a Commercial Package Policy Provide?

Bundling multiple individual policies together in a single commercial package policy has two benefits.

First, it’s easier to manage multiple policies when they’re together within a single entity. Rather than paying lots of bills, businesses can send in a single payment for all of their insurance policies’ premiums.

Second and more significant, most insurers offer significant discounts for bundling policies together. Businesses can often get a percentage off of each individual policy when they’re purchased through a package policy. Even a small percentage off frequently leads to large savings for businesses, as many businesses need several individual policies.

Some examples of more specialized coverages that only certain companies need include:

• Tank Leakage Coverage, which breweries that have tanks of beer might want
• Farming or Ranching Loss Coverage, which agricultural businesses might want
• Supply Chain Risk Coverage, which manufacturers that rely on specific suppliers might want
• Terrorism Coverage, which businesses that are potential targets of terrorism might want

The exact individual policies that a CPP offers can vary. In most cases, though, Worcester, MA businesses are able to mix and match individual policies to create a package policy that provides most of the protections they need.

Are There Any Individual Policies That a CPP Doesn’t Include?

While a CPP can include many different individual policies, there are a few insurance policies that typically aren’t available through commercial package policies. Workers compensation insurance, health insurance, disability insurance, and life insurance, for instance, frequently have to be purchased separately, as stand-alone policies.

Are Commercial Package Policies and Business Owners Policies the Same?

While commercial package policies and business owners policies are both package policies designed for businesses, they’re two different insurance solutions. Commercial package policies usually contain many individual policies that businesses can choose from to create a highly customized portfolio of protections. Business owners policies generally offer only basic protections that most businesses need. While business owners policies might be slightly adjusted, they normally don’t offer as flexible or comprehensive a solution as commercial package policies.

How Can Worcester, MA Businesses Get a Commercial Package Policy?

Because commercial package policies are generally customized for a particular business’ situation, Worcester, MA businesses should work closely with an experienced independent insurance agent when they’re setting up a commercial package policy. An independent agent will be able to help with the selection of individual policies, and they can get quotes for several commercial package policies that a business can choose from.