Why wouldn’t every company choose General Liability and property package policy for their business insurance, with all the advantages listed above? First, not every business is eligible for BOP coverage. If a company is involved in high-risk or highly-specialized operations, if it occupies large premises or conducts most of its services off-premises, or if requires higher limits of liabilities than BOP packages offer, the company will have to find other forms of commercial insurance.
Second, General Liability and property package policies carry a single limit for bodily injury and property damage claims. For the right kind of business, the single limit in the BOP is a simple, adequate feature. But if your business has higher than average product liability risk, the fixed limits of a BOP may not be sufficient.
General Liability Insurance Quotes
While General Liability and property package policies are competitively priced as a category, there will be variances in the premiums charged for different small business insurance policies. Contacting several insurance agents and/or researching commercial insurance policies online will help you receive competitive insurance quotes for the coverages you need. Also keep in mind that General Liability and property package policies only satisfy a company’s needs for Property and General Liability insurance. General Liability insurance does not protect your business from professional errors or negligence that are normally covered by a Professional Liability insurance policy.