What is a Commercial Package Insurance Policy?
A commercial package policy (CPP) is an insurance policy that combines coverage for multiple perils, such as liability and property risk. A commercial package policy allows a business to take a flexible approach to obtain Insurance Coverage. The benefit of CPP is that it may allow the business to pay out a lower amount of premiums than if it purchased a separate policy for each risk.
What is Included in a CPP?
Generally speaking, a BOP is a prepackaged insurance policy that includes three essential commercial coverages: Business Liability, Commercial Property, and Business Interruption Insurance.
What benefits come with having a Commercial Package?
The benefits of purchasing a package policy include lower costs, broader coverage for losses that usually occur together, time efficiency, etc. A package policy can cover you against all sorts of risks under its protective umbrella.
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