In which scenario would a packaged policy likely provide wider coverage?

Packaged policies are designed to offer comprehensive coverage for a variety of risks typically faced by businesses within specific sectors. In the case of specialized trades, such as construction, hospitality, or manufacturing, packaged policies can be tailored to encompass the unique insurance needs arising from those industries. These policies often consolidate multiple coverages—like property, liability, and professional indemnity—into a single product, ensuring that the specific risks associated with a specialized trade are addressed.

In contrast, larger businesses might require more bespoke insurance solutions that cater to their extensive and diverse operations, which packaged policies may not fully accommodate. Startups, while benefiting from the simplicity of a packaged policy, may not have the same complex risk profiles as specialized trades, thus not needing as extensive coverage. Associations often have their own unique considerations and may be better served by policies tailored to their operational structures rather than a packaged approach.

Consequently, the nature of specialized trades lends itself to a situation where packaged policies can provide wider and more relevant coverage compared to other scenarios.