A Commercial Package Policy (or CPP) is an insurance product that is highly customizable for medium and large companies, or small companies with high levels of risk exposure. It includes General Liability coverage and Commercial Property insurance, plus you can add on many additional protections depending on your business type and industry. You can be sure that you’re never paying for insurance you don’t need with a CPP as programs are tailored to your specific business needs.
This essential coverage for any business owner protects your assets should unforeseen circumstances arise. Imagine a customer slips and falls while visiting your business. Your General Liability policy will cover you for any costs associated with the injury and legal fees if the customer decides to sue you.
Commercial Property Insurance will protect your property, including buildings, equipment and inventory in case of theft, fire, damage or other loss. Many commercial property owners will require proof of Commercial Property Insurance before you can lease a building or storefront space.
The main goal of a CPP policy is to build a customized program that exactly fits your business needs. These are just a few of the many additional protections you can add on to your base CPP:
A BOP is specifically for small businesses that have low levels of risk and don’t need a high level of customization. Though you can add some additional endorsements on a BOP, it doesn’t have the level of flexibility that a CPP has. For small businesses looking for affordable baseline General Liability and Commercial Property coverage, a BOP is the way to go. For larger businesses or those with high levels of risk, a CPP is the right choice as it can be built specifically around your business’ needs and areas of exposure. A CPP is typically more expensive than a BOP, but for businesses with high risk, it’s the safest way to protect your assets.
Simply fill out our online application and one of our experienced insurance professionals will be in touch with you within one business day to help you build a CPP program that is tailored to the needs of your business.