A General Liability and property package policy includes
General Liability insurance to cover your commercial liability
and property insurance for physical assets, such as contents,
that are leased or owned. The package insurance policy may
also cover loss of business income and extra expense resulting
from an insured peril.
A business insurance package policy generally insures
lost or damaged property for replacement value, which means
you'll receive a settlement amount sufficient to replace
the property without deducting for depreciation.
The Property insurance portion of a General Liability
and property package policy also covers other people’s
personal property to the extent that the business owner
is legally liable for the damage.
