As a business owner who owns a mid to large-sized business operating in the great state of Maryland, you have enough to worry about with operations, deadlines, customer satisfaction, and employee retention, without adding insurance to the list. While you can buy several different, essential policies that no smart businessman would go without, a commercial package policy in Maryland can be issued to include almost any type of coverage offered, from property and liability to auto, crime, inland marine and professional liability.
Packaging coverages not only allows for great flexibility to determine which policy to choose, and one specifically designed for the needs of your organization, it also enables you to have almost all of your coverage in one convenient package. That means you only have to deal with one insurer when a claim for any of those issues occurs.
Partnering with the right insurer is important. Someone who can analyze the amount of risk you might typically face in order to determine what type of liability coverages you need, as well as the amount of coverage (any current coverage amount you have may be inadequate for the types of risks your business faces), which is tantamount to your remaining successful.
Look at coverage for additional exposures
You may also need to have adequate protection from other exposures you may face, and depending on the particular type of business, you should probably include additional types of liability coverage protection. You may benefit by including:
- Pollution Liability
- Directors & Officers
- Professional Liability
- Employment Practices Liability
- Umbrella/Excess Liability, to name a few
You need to consider the possibility that there may be gaps in coverage that you are unaware of. It may be determined that increased policy limits, broader coverage, or other additions are appropriate to ensure you have a truly comprehensive Maryland commercial package policy.