Everything You Need To Know About Commercial Package Policy (CCP)

​Business theft, mechanical failures, inland marine, and car insurance are a few coverages that insurance companies can combine into a Commercial Package Policy. The coverage of a commercial package policy varies on the business and the program requirements. 

What makes a CCP beneficial is that you can save more in availing one than buying separate insurance policies for different threats to your company. In this guide, we’ll discuss some insurance policies usually included in a Commercial Package Policy and how it helps your company minimize the costs of risks. 

Advantages of a CCP
There are many benefits to bundling the most typical insurance coverages that a company might avail into one policy. One of them is that it enables the company to distribute its liabilities among several insurance policies. Commercial package policies normally offer greater coverage options even if a CPP integrates types of policies usually included in single coverage.

Fewer insurance plans also imply less handling and simpler claiming processes. While a CPP does not offer all the insurance coverage you require, the bundling of coverage may greatly simplify your business life. Even if you exclude the cost reductions linked to combining coverage, customers may likely acquire better insurance at a lesser price as more providers can submit quotations.

CCP Inclusions
A CCP combines many policies to give businesses a greater selection of coverage options and limitations, giving them more freedom to customize their insurance to fit their company's needs. Some of the included policies are the following: 

1. General Liability 
   Thanks to general liability, your company is shielded from claims involving your facilities, goods, finished activities, and damaged equipment. Additionally, it can help your company from paying for unintentional injuries, hospital bills, and advertising damage.
   
   
2. Business Income Insurance
   Suppose your company must close or transfer due to natural disasters and other insured damages. In that case, this insurance, often known as business interruption insurance, restores lost income and pays for additional costs.
   
   
3. Inland Marine Insurance
   Transporting products and equipment on land and water is covered by inland marine insurance. Different assets are protected by coverage for these broadened risks, not simply those that are a specific range from the location of your company or the address specified in the contract.

Conclusion
One of the most popular insurance policies is the commercial package policy. In addition to offering comprehensive coverage, it also provides numerous advantages to help secure your business. 

At Desmond Insurance, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (859) 491-5100 or Click Here to request a free quote. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!