Commercial Package Policy
What is a Commercial Package Policy?
A Commercial Package Policy (CPP) is an insurance policy that provides both liability and property coverage for businesses and other organizations. This policy has a range of coverages and limits, allowing a business additional flexibility in tailoring its coverage to specific needs.
What are the coverages included in a Commercial Package Policy?
A Commercial Package Policy can include two or more of the following coverages:
- General Liability
- Commercial Property
- Business Income
- Business Crime
- Commercial Umbrella
- Employment Practices Liability
- Inland Marine
What additional coverages can included in a Commercial Package Policy?
Additional coverages, also known as Enhanced Property Endorsement, can also be added to the policy, including
- Equipment Breakdown
- Spoilage Coverage up to $100,000
- Outdoor Signs
- Valuable Papers
- Accounts Receivable
- Personal Property of Others
- Newly Acquired Locations
- Outdoor Signs
- Debris Removal
- Fire Department Service Charges
- Trees, Shrubs and Plants
- Off Premises Power Outage
What is the difference between a Commercial Package Policy (CPP) and a Businessowner's Policy (BOP)?
A Businessowner's Policy (BOP) is designed for small to medium-sized businesses and provides liability, property, and other coverages at a lower cost than buying individual coverages. On the other hand, a Commercial Package Policy (CPP) also bundles liability, property, and other coverages; however, it is geared towards businesses with higher risks. CPP offers coverages and limits that are more customizable, making it a good option for businesses with unique or complex needs.
What Businesses can benefit from a Commercial Package Policy?
Small to medium size businesses can benefit from a Commercial Package Policy, including:
- Apartments & Rental Dwellings
- Barber Shops, Beauty and Nail Salons
- Bowling Centers
- Car Washes
- Civic or Social Clubs
- Convenience Stores
- Grocery Stores
- Light Manufacturing
- Lessor’s Risk
- Professional Offices
- Restaurants & Food Services
- Retail Stores
- Vacant Land
Contact an insurance agent for more information
If you own a small business, you should inquire about purchasing a Commercial Package Policy. Contact us for an insurance agent in your area.Find an Insurance Agent Near You