commercial package policy
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For those familiar with the bundling of insurance for small businesses, a Carmel commercial package policy works similarly to a business owners policy (BOP), except that a BOP has more limitations and covers fewer areas of risk. The reason why so many companies might prefer a commercial package policy (CPP) is because they are typically written for small to medium sized businesses with specialized risks. Also, the selection of coverage is a bit broader than the lines of insurance coverage available in a BOP, and you can base it on your particular companys needs.
Various policies available under CPP packages
Property insurance coverage will protect your real property (buildings or structures) whether you own or lease, along with business personal property (this includes betterments and improvements to real property), and any inventory exposures are covered as well. You can also choose to insure any real property for replacement cost value or actual cash value. This coverage can also be tailored to fit your individual needs.
General Liability (GL) insurance is kind of the foundation of most insurance packages, both BOP and CPP. This policy helps protect your assets by providing defense against a variety of claims for alleged negligence or wrongdoing. As always, this is subject to any agreements and exclusions contained within the policy. Your GL coverage is designed to keep your operations running smoothly and without major interruption.
Depending on your type of business you may want to include inland marine coverage. This is property insurance designed for property in transit over land, certain types of moveable property, instrumentalities of transportation (such as bridges, roads, and piers, or communication (such as television and radio towers), and legal liability exposures of bailees. Many inland marine policies provide coverage without regard to the location of the covered property; these are sometimes called “floater” policies.
Other coverages to consider include equipment breakdown, business interruption, crime insurance, umbrella liability, and employment practices liability. There is a range of other policies that may also benefit your business, all of which you can discuss with an agent, and determine exactly what falls in line with the type of services or products your company provides.
There are some standard policies that cannot be included in your Carmel commercial package policy, and these include directors and officers, health and disability, life insurance and workers compensation coverage, all of which, if needed, can be purchased separately. Speak to an agent about all of your insurance needs.
As a business owner in Virginia, you understand that running a company comes with certain risks. Fortunately, business insurance in VA offers extensive liability coverage at competitive rates, allowing you to conduct business with the protection you require. Working directly with an agent, you can find a policy that best suits your needs, from commercial liability to workers compensation. Take a moment to learn a little bit more about business insurance.
More Options, Better Coverage
Financially backed by reliable insurers, business insurance in VA steps up to the challenge when your company is at stake. With personal, professional attention from a reputable agent, your business can choose from a variety of products, including:
- general liability,
- commercial auto,
- business owners,
- commercial property,
- workers compensation,
- commercial package, and more.
Though these policies may seem overwhelming, in reality your coverage needs comes down to two things: the type of business you are and the type of company you plan to become.
The Power to Grow Your Business
Having protection against the various risks you encounter in business allows your company the room for growth and to pursue more ambitious goals without worrying about the what-ifs. To usher your business into the next era, contact your local agent to begin shaping a policy that’s right for your company.
The risk of hackers infiltrating all types of businesses has become so prevalent that it regularly makes the news. Cyber security is important for companies of all sizes. Many small businesses are now being targeted and are equally at risk for cyber attacks as large companies and should therefore be prepared for a possible breach at any time.
Thankfully companies in the area can greatly benefit from austin business insurance that deals specifically with cyber theft and cyber breaches. Not only are hackers a concern when it comes to breaches but even those within the company can be responsible for getting into your system and stealing data, either unintentionally or on purpose.
Laptops can provide access to sensitive data
Sensitive information exists in most companies computer records and if an unauthorized individual is able to access a company computer then you could be at risk. For example, an employee who takes a laptop home from work could have it stolen and this could result in a loss of personal and confidential information. Any business that collects and stores sensitive information from customers, as many now do (and this includes everything from credit and credit card information, contact information, social security numbers, and confidential medical information) is at risk of a data theft.
Ways to prevent your company from experiencing a breach
You should instruct all employees to change the passwords used to log into technology systems on a regular basis and to avoid emailing sensitive information, or use a secured email service. Have employees lock their computer screens whenever their desks are unattended and never open strange email attachments or click unusual links in emails, especially from unknown senders. Make it a company policy to restrict access to unescorted and/or unsupervised visitors walking through your office, and have a written technology policy in place so that all employees understand the expectations and rules regarding how your business handles sensitive data.
To protect your small business from these exposures, consider a cyber liability austin business insurance policy. Speak to an agent that can help you identify the risks your business faces from data theft and also help you identify the right policy to cover those exposures.