Key Considerations About Insurance Packages for Businesses

Businesses of all sizes need to be vigilant about controlling the costs of each line item in an operating budget. When they are planning their budgets, insurance coverage merits special attention. A business package policy must be affordable yet also comprehensive enough to adequately address risk exposure.

Property Insurance

If businesses own real property, it likely represents one of their greatest assets. Property insurance protects the value of that asset and equips businesses to remedy damage. The cost of these policies vary based on market value, locale, and capital needs.


General liability policies can cover a large variety of claims that an individual or another business entity could bring against a company. However, they may not necessarily include coverage for some of a company’s biggest risk scenarios. They may need to consider structuring a package with supplemental coverage for professional liability or cyber liability coverage. Also, including an umbrella policy can offer vital protections.

Directors and Officers Coverage

Business principals need to be proactive about protecting themselves from personal liability. Corporate officers and board members should be sure to include directors and officers coverage in their policies.

Ideally, businesses should work with insurance companies that have experience serving similar commercial clients. They can offer guidance about unique coverage needs as well as access to competitive quotes from reputable carriers.