A Deductible Reimbursement Policy, or a DRP, carries with it many advantages besides providing great protection for your business. Here are just a few of the valuable benefits you and your company will experience with a DRP in place.
Ideal for Multiple Lines
Depending on the size of your business and the assets that you have to protect, you may have multiple lines of coverage, such as business auto, professional liability, workers compensation, and more. It is clear that with all of these multiple coverage lines, and based on how many personnel you have, the deductible payments can reach into the high thousands and hundreds of thousands. A DRP is ideal for businesses like this because a DRP can reimburse these expenses, even when they reach above $500,000 dollars and close to a million dollars.
Captive Solutions May Be Available
A captive solution is an insurance solution where a third party insurer covers an insured. If you are in a captive solution arrangement that is working out pretty well for your business, a DRP might be a good idea for you. DRPs are often designed for captive insureds specifically based on your unique needs and your business. As a business owner you know that insurance premiums can get costly and one of the ways that you can help yourself out while helping out those whom you insure is through a Deductible Reimbursement Policy.