Commercial Package Policy
Commercial Package Policy (CPP) is an insurance policy that combines general liability and commercial property coverages for medium-sized businesses.
What is Commercial Package Policy?
Commercial Package Policy (CPP) is an insurance policy that combines coverage for multiple hazards, such as liability and property risk. A CPP allows businesses to customize their insurance coverage to suit their specific needs.
Why You Need It
1
Customizable and Flexible Coverage
With a CPP, businesses have the flexibility to choose and combine the coverages they need, making it a versatile solution for diverse businesses with specific insurance needs.
2
Cost-effective
Packaging multiple coverage types under a single policy can often be more cost-effective than purchasing individual policies.
3
Simplified Management
By consolidating different coverages into one package, businesses can streamline their insurance management process, making it easier to keep track of their coverages and premiums.
Looking For A Commercial Package Policy?
We can help you find customized options from multiple insurance carriers.
What Commercial Package Policy Covers
General Liability
Covers businesses for injury or damage to others as a result of their business operations.
Commercial Property
Protects the property owned by the business, such as buildings, equipment, or inventory, from covered perils.
Employment Practices Liability Insurance (EPLI)
Protects against claims from employees for legal rights violations, such as wrongful termination or harassment.
Cyber Liability
Helps manage costs and repercussions associated with a data breach or hack, including customer notifications and fines.
Employee Benefits Liability
Covers businesses against errors or omissions in the administration of employee benefits programs. Such mistakes could include failure to enroll a new employee in a benefits program, negligent advice on benefits matters, or clerical errors that result in benefit loss.
What Commercial Package Policy Doesn't Cover
Not Covered
Professional Liability
Claims related to professional errors, negligence, or malpractice are not covered. This coverage requires a separate professional liability or errors & omissions policy.
Not Covered
Workers' Compensation
Employee injuries at work are not covered. For this, you need a separate workers' compensation policy.
Not Covered
Flood & Earthquake
Most Commercial Package Policies do not include any coverage for a flood or earthquake damaging owned property.
Not Covered
Directors & Officers Liability
Claims against your company’s executives for wrongful acts in their managerial roles are not covered. You would need a separate D&O policy for this.
Reasons To Have Commercial Package Policy Coverage
Commercial Package Policy is a must have for businesses that need:
Customizable and Flexible Coverage
With a CPP, businesses have the flexibility to choose and combine the coverages they need, making it a versatile solution for diverse businesses with specific insurance needs.
Cost-effective
Packaging multiple coverage types under a single policy can often be more cost-effective than purchasing individual policies.
Simplified Management
By consolidating different coverages into one package, businesses can streamline their insurance management process, making it easier to keep track of their coverages and premiums.
What Does Commercial Package Policy Coverage Cost?
Costs can vary based on your location and the specific type of work you perform. Here are some examples of various Commercial Package Policy quotes:
| Distributor | Hotel | Powersports Dealership | |
|---|---|---|---|
| State | CA | OK | TX |
| Annual Revenue | $26,000,000 | $200,000 | $35,000,000 |
| Value of Insured Property | $6,448,125 | $1,700,000 | $2,850,000 |
| General Liability Limit | $1,000,000 | $1,000,000 | $1,000,000 |
| Annual Cost | $131,004 | $19,352 | $103,000 |
Frequently Asked Questions
What Our Customers Are Saying
I’ve worked with Austin at LandesBlosch. He is upfront and honest, active in the community, and helpful even beyond basic insurance. I’d recommend LB to anyone.
Colton J.
I have been with Guy Landes and the LandesBlosch agency for almost 20 years. Guy Landes and his staff have been there for me and my entire family through several claims as well as guiding us successfully to ensure our family’s ever changing and growing business. Whether you are looking for personal or commercial insurance, you cannot find a more devoted and competitively priced group than the LandesBlosch Group!
Mike S.
Buying insurance can be a daunting task because of the complexity of each policy. LandesBlosch has been a game changer for my business. They held my hand through all the different options that my businesses may or may not needs to make sure I'm not underinsured. This reduces my personal stress and my business liability.
Dalton P.
Wondering If A Commercial Package Can Help Reduce Your Costs?
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