The Ins and Outs of a Commercial Package Policy

Many business owners of small to medium sized businesses are incorporating a commercial package policy as part of their total business insurance. A commercial package policy, often referred to as a CPP, is a type of business insurance package that bundles together coverage for a number of things including, but not limited to, liability insurance, crime, property, machinery and professional liability. The small business owner who purchases a commercial package policy realizes flexibility and customized coverage specifically chosen to suit his particular needs.

A CCP policy is individualized because it includes coverage specifically selected by the policyholder. The commercial package policy often includes general liability and property coverage, along with bundles of several other risk coverages.
A commercial package policy can cover property exposures such as buildings, personal property and oven off premises property. There is built in coverage in each CPP category, but you can also personalize your protection. Further, small business owners often choose liability insurance as part of their commercial package policy bundle because it covers their business if it is sued. For example, if someone receives a personal injury as a result of something your business failed to do, liability insurance, as part of a CPP bundle, covers settlements and damages arising from a lawsuit. Most policies even cover court costs and attorney fees.

The commercial package policy is a great choice for the small business owner. Not only does it allow you to select coverage based on your individual business, but the CPP policy can change and grow as your business does. This is especially important if you company is a start-up or growing — or expects future growth.

The commercial business package is often used for small businesses such as service companies, restaurants, offices, contractors, apartment management companies and more. CPP’s are also a great choice for complex businesses that need a higher level of customization than other general policies.

Regardless of your business type or industry, the commercial package policy is a fundamental component to protect any business. It provides your business with a myriad of essential property and general liability coverage. It’s an ideal solution for the small business owner who desires a comprehensive package of insurance coverage in an adjustable plan. By combining a number of components into one bundled package, you can receive convenience, flexibility and economies of scale, all of which are critical factors to today’s successful business.