If you own or manage a business operating out of an office, then you need an office package insurance policy to ensure that you have the right coverage that your business needs in the unfortunate time of a loss. The following are the three main types of insurance coverage that are commonly included in office package insurance policies:
Commercial general liability:
Commercial General Liability is coverage that is almost always written on an occurrence basis but can also be written on a claim’s basis. Commercial general liability written on an occurrence basis, it covers your legal liability for both bodily injury to a third party and property damage to property of others caused by an occurrence. This occurrence would need to take place within the coverage territory that is stated within the policy and must occur within the policy period in order for the policy to respond. Other common overages included in commercial general liability include:
- Personal Injury (Libel and slander, false arrest and malicious prosecution, wrongful entry)
- Medical Payments
- Tenant’s legal liability
- Employers’ liability coverage
- Non-owned automobile coverage
Commercial property insurance:
It is common to have this coverage provided on a broad form basis. This type of coverage protects you from direct physical loss or damage. Physical loss or damage due to flood and earthquake are commonly excluded but can usually be added for an additional premium.
This type of coverage provides coverage for a move or a loss of income when a business is forced to temporarily close due to an insured loss occurring. Business interruption coverage enables to you minimize potential damage to your business. Contact us today to see how we can help you with your Bop needs.