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Obtain Comprehensive Insurance Protection for Your Business

When it comes to insuring your business, there are several options available including the ability to put your coverages together into one package Depending on your type of business, the size of your operation, revenue, where you are located, and other factors, you can opt for a Business Owners Policy (BOP) or a Commercial Package Policy (CPP). The Regan Agency offers both types of packages and will help determine which option is best for you once we conduct a thorough analysis of your operation and exposures.

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What’s a BOP and Which Coverages Are Included?

A BOP is typically a good fit for small to mid-sized business, combining General Liability and Commercial Property insurance into one convenient, affordable package. It protects your assets in the event of a lawsuit involving third-party bodily injury or property damage, and your building (if you own it) and business content (office furniture, equipment, inventory) from property damage. If a visitor slips and falls while at your premises, a BOP will step in to pay for legal defense costs and settlement amounts up to the policy limit. If a fire breaks out and you need to replace or rebuild your property, a BOP will cover the loss up to the amount you have purchased.

It also provides you with Business Interruption insurance to cover loss of income due to a covered disaster that forces your business to shut down temporarily. It helps pay the added expense of operating out of a temporary location after a loss as well as the need to continue to meet your financial obligations, like rent, payroll, and utilities while repairs or rebuilding takes place.

You can also customize the BOP to add Cyber Liability and Crime coverages.

What’s a CPP?

A Commercial Package Policy is typically for larger businesses with more complex risks. It allows you to put together a package of coverages that fits your risk profile. Businesses in industries such as light manufacturing, processing and service, habitational, retail, office, and wholesale risks would turn to the CPP for comprehensive insurance protection.

Coverages under the CPP include General Liability, Commercial Property, and Business Interruption with the ability to add Inland Marine insurance to cover property and equipment that moves off your premises, customer property in your care, and a host of other types of properties. You can also add Commercial Auto, Crime, and Employment Practices Liability insurance. If you provide professional services to clients, you should look to add Professional Liability coverage, which will protect you in the event of a third-party lawsuit alleging financial damage due to an error or omission in the services you provided.

Workers’ Compensation insurance must be purchased separately from the CPP.

The Regan Agency professionals are available to go over each package to determine how to best protect your business.

We’re Ready to Serve Your Insurance Protection Needs

We invite you to learn more about the Regan Agency and to give us an opportunity to show you how we can take care of your business and personal insurance needs. Just give one of our professionals a call at 631-669-3434.