A CPP or commercial package policy provides protection for nearly any type of commercial risk. Business owners may combine and package different coverages so that they cover the unique risks that business owners face. If you’re still asking yourself, what is a CPP insurance policy? This is your guide.
Elements to a Commercial Package Policy
A commercial package policy has several components. These components include:
- CPP coverages
- Common policy conditions
- Common policy declarations
The CPP coverages are the most important part of the commercial package policy. This is where the true flexibility of the CPP insurance policy shines through. Keep in mind that all coverages come with their own specific and unique conditions.
What Is a CPP Insurance Policy?
While you may know what a CPP is, you may not know all of the coverages. Some of the most common coverages and combinations of coverages are:
- Commercial property coverage
- Commercial auto coverage
- Commercial crime coverage
- Boiler and machinery coverage
- Commercial inland marine coverage
- Professional liability coverage
- Employment practices liability
- Farm coverage
One of the best parts of this type of policy is that you can combine and choose what your business needs.
A commercial package policy is crucial when you own a business. It provides you with protection for all kinds of commercial risks.