As a commercial business owner, you have a lot to lose and even more risks to lose them by. If a customer gets injured on your property or by one of your products, you can be sued for damages. If an employee gets hurt on the job, you may have to pay for medical expenses, retraining and missed wages. If a client isn’t happy with your services, you may face a legal suit based on errors and omissions. While you likely do everything in your power to prevent a lawsuit, there is no way to prevent one entirely, which is why it is important to invest in a commercial package policy.
When it comes to your commercial insurance policy, you can make it as comprehensive or as simple as you need it to be. Depending on the size and scope of your business and your needs, you may only need to bundle a few of the essential coverages such as general liability and property coverage. On the other hand, you may need auto insurance, cyber risk liability coverage and E&O coverage as well. A BOP allows you to bundle everything you need into one plan, that way you’re not paying multiple premiums to multiple providers; you’re simply paying one flat fee each month for any and all coverage that you need.