What is Package and Property Program?
A Package and Property Program combines multiple lines of commercial insurance into a single policy, typically bundling general liability and property coverage. This type of program is designed for businesses or organizations that need broad protection for physical assets and operational risks. Whether you're managing a retail shop, a contractor’s office, or a nonprofit organization’s facility, this coverage helps simplify insurance management while addressing key exposures.
Who needs it
Clubs, small businesses, property managers, associations, and contractors often seek package and property programs. These entities face a variety of exposures — from fire damage to equipment breakdowns — that require both property insurance and liability protection. For example, a community center hosting events may need coverage for both building damage and potential spectator injuries.
What it typically covers
Most package and property programs include:
- Commercial property coverage – for buildings, furniture, equipment, and inventory
- General liability insurance – for bodily injury or property damage claims from third parties
- Business interruption coverage – to help cover income loss during covered events
- Optional add-ons – such as equipment breakdown or commercial auto exposure, depending on the insurer
Some programs, like the Tailored Property Programs, are customized for specific industries or property types.
Common exclusions or limitations
While comprehensive, package policies usually exclude certain risks such as:
- Flood and earthquake damage (unless added separately)
- Intentional acts or fraudulent behavior
- Wear and tear or routine maintenance issues
Reviewing exclusions and understanding your organization’s unique liability exposures is an important part of the risk management process.
Factors that influence cost
The cost of a package and property program depends on several underwriting factors, including:
- Location and age of the property
- Type of industry and operational hazards
- Claims history and safety practices
- Coverage limits and selected endorsements
For instance, a landscaping contractor may pay differently than a condominium association due to varying job-site hazards and property values. Programs like the Greenscape Insurance Plan are tailored to specific operational risks, which can impact pricing.
Proof of insurance & compliance
Package and property policies typically come with certificates of insurance that serve as proof of coverage. These are often required by landlords, municipalities, or clients before starting a project or opening a facility to the public. Ensuring timely documentation helps maintain compliance and business continuity.
How to get a quote
To get started, gather basic information about your property, business operations, and current insurance. Then request a quote to compare tailored options that meet your coverage needs and budget.
Frequently Asked Questions
What types of businesses benefit most from package and property programs?
Small to mid-sized businesses, contractors, clubs, and associations often benefit from bundled coverage that simplifies insurance and reduces gaps.
Can I add equipment breakdown coverage to a package policy?
Yes, many insurers offer optional endorsements like equipment breakdown or environmental impairment coverage, depending on your needs.
How is liability coverage included in a package policy?
General liability is a core component, covering injuries or property damage to third parties resulting from your operations or premises.
Are natural disasters like floods covered?
Standard package policies typically exclude flood and earthquake damage, but these can often be added through separate policies or endorsements.
Is business interruption included in all package programs?
Not always. Some programs include it by default, while others offer it as an optional add-on. Be sure to confirm with your insurer.
Still have questions? Talk to a local insurance expert.