Commercial Package Policy
What Does Commercial Package Policy Mean?
A commercial package policy (CPP) is a bundled business insurance solution that covers various risks, such as commercial crime, commercial property, and general liability. It provides businesses with flexibility in selecting the coverage they need, often at a lower premium than if each type of policy were purchased separately.
Insuranceopedia Explains Commercial Package Policy
Insurance companies offer commercial package policies (CPP) to small and mid-sized businesses, which typically require less liability coverage than larger companies. This option is appealing to such businesses because it allows customization within a single policy, offering multiple types of coverage for property, automobiles, general liability, and more. However, business owners should be aware that CPP does not cover life, health, disability, or workers’ compensation, and they may need additional coverage for specific risks not included in their policy.
