Walker & Associates: Packaging Your Insurance Coverage Into One Policy
All businesses require several fundamental insurance coverages to protect against potential liability claims and safeguard their property. From customer injuries on your premises to a fire that damages your inventory among other exposures, you need to make sure you are well protected. Walker & Associates has been insuring businesses throughout Central Indiana since 1960, and would like an opportunity to do the same for you. We can provide you with a choice of package policies, which is a great way to get many of the coverages you need bundled together. Of course, depending on your needs and the scope of your business, we can create a personalized insurance program combining individual policies to best address the unique risks facing your business.
Business Owners Policy (BOP)
A BOP provides you with comprehensive insurance coverage for standard exposures designed for your industry sector. It includes Property insurance for buildings, contents, and personal property of others on your premises, among other coverages. The property component also includes Business Interruption insurance, which is vital should a covered loss occur that causes your operation to shut down while repairs or rebuilding takes place. With this coverage, you will be covered for ongoing expenses such as payroll, utility bills, etc. — up to the amount specified in your limits.
A BOP policy can also include equipment breakdown, glass or signage and exterior structures, among other specialty items particular to your niche. Depending on your exposures you can add enhancements to broaden your Property coverage for mobile property, crime, valuable papers, money and securities and other business assets that could be damaged or destroyed.
Your Liability coverage can also be tailored to fit your specific operation and the niche you serve. Our staff works with several leading insurers to obtain a policy designed for your industry segment.
Additionally, outside of the BOP, we can write Workers’ Compensation, Employment Practices Liability, Professional Liability and other key coverages that your firm requires.
Commercial Package Policy
Depending on the size of your company, a Commercial Package Policy may be better suited for your business. A Commercial Package Policy differs from a BOP in that you select the specific coverages you want and bundle them as a multi-policy package. Often, a premium discount is available when you combine policies into one package.
You can limit your Commercial Package Policy to just General Liability and Property coverage, or you can include other policies, such as Business Auto insurance, Inland Marine, Equipment Breakdown, Crime, Business Interruption with Extra Expense and others. Liability insurance specific to your needs can often be added.
We can also secure built-in coverage for various expenses such as debris removal, valuable papers, outdoor property and signs, and sewage and drain backup, to name a few. We will review all of your options with you and help you decide the insurance solutions that best protect your company.