Types of Policies

All businesses need property/casualty insurance coverage. The “property” component protects against damage to or loss of the business’s property. The “casualty” or liability component provides protection against legal liability for damages caused to other people or their property. A wide variety of lines of business fall into these broad catagories.

Package Policies

Commercial insurers sell coverages separately and/or offer policies that combine protection from most major property and liability risks in one package. Package policies are created for businesses that generally face the same kind and degree of risk.

Commercial Multiple Peril Policies

Larger companies might purchase a commercial package policy or customize their policies to meet the special risks they face. Commercial multiple peril policies , ofter purchased by corporations, bundle property, boiler and machinery, crime, and general liability coverage together.