Commercial Package Policy
What Does Commercial Package Policy Mean?
A commercial package policy (CPP) is bundled business insurance coverage for various perils, such as commercial crime, commercial property, and general liability. It offers businesses flexibility in choosing the coverage they want, and the premiums may also be lower than if they purchased each type of policy separately.
Insuranceopedia Explains Commercial Package Policy
Because small or mid-sized businesses do not need as much liability coverage as larger companies, insurance companies offer them commercial package policies. This is attractive to such businesses because it affords them customization in a single policy that can offer multiple types of coverage for property, automobiles, general liability, and more. Business owners should know that CPP does not cover life, health, disability or workers’ compensation, and they may need other coverage for specific risks not included in their policy.