Meeting Your Risks With a CPP

Small to mid-sized businesses can often purchase a business owner’s insurance policy (BOP) as a way to combine different areas of liability coverage, making it a more cost-effective and efficient option than multiple policies addressing property damage, bodily injury, commercial auto, or other liabilities. Large companies have similar exposures but will find that a commercial package policy carries many similar benefits to that of a BOP.

Combination Options

The commercial package plan or CPP offers flexibility in addressing risk areas of a company while still keeping their premium costs down. The type of industry associated with your company will be a determining factor in the cost of a policy, as the financial requirements to address certain risks vary across fields. For instance, a hair salon would require less coverage than a real estate developer. Because the risks are unique, a CPP can be customized to include a number of coverages into one policy. The most commonly included items are:

  • Commercial auto
  • Commercial property
  • Crime Protection
  • General liability

Crime protection extends beyond theft or vandalism and can include issues with embezzlement and credit card fraud. However, the information at reveals that coverage is not available for directors’ and officers’ liabilities, workers’ compensation plans, and group life or disability plans. You can work with your agent to craft a more inclusive policy according to the needs of your business.