All You Need to Know About Commercial Package Insurance Policy

​You might be aware that running a business entails a lot of risks. Instead of buying an insurace plan for each risk, which can be costly, getting a CPP can help you choose what you want and save a lot of money. Why? Most insurance companies will enable you to pay out lower premiums for Commercial Package Policy. CPP is a type of protection that covers multiple risks — property and liability risks.

More about Commercial Insurance Package
CPP is bespoke insurance under one policy. It is ideal for small to mid-sized business.  These businesses can quickly apply for the package because, typically, they have smaller liability necessities, and don’t utilize enormous facilities.

What CPP Can Bundle
Here are various types of coverage that can be under one policy:
General liability insurance

• Property insurance
• Fleet protection
• Electronic data processing cover
• Business income insurance
• Commercial crime insurance
• Business umbrella liability
• Employment practices legal responsibility
• Equipment interruption
• Pollution liability
• Inland marine protection

Example of Businesses that Need CPP

• Light manufacturing companies
• Vehicle wash facilities
• Digital marketing centers
• Shipping companies
• Apartments and lodgings
• And, many others

Commercial Package Exclusion
Thankfully, CPP can include a lot of covers. However, it can’t cover the following:

• Workers’ compensation
• Directors and officers liability
• Life Insurance
• Health and disability

Take note: The reason why CPP can’t include those four types of coverage is these coverages need to be purchased separately required by the law. Also, they entail distinct policy choices and decisions. 

Is Commercial Package the Same as Business Owner Policy?
The answer to this question is no. Both the Commercial Package and Business Owner Policy bundle various types of coverage, but there is a distinction. 
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• Business Owner Policy: This plan bundles a list of covers, but some of them may be of interest to the policyholder. In other words, the insurer chooses the covers to offer.
• Commercial Package: The policyholder has the freedom to customize the package. In other words, you can explicitly select the types of protection that you want through this package.

Determine the types of protection that you need and get the necessary commercial package insurance plan now from a trusted insurer. It’s an excellent and flexible approach to safeguard your business.

At Desmond Insurance, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (859) 491-5100. Get your free quote today by CLICKING HERE.