Commercial Package Insurance: What You Need to Know

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Making many decisions is a must to become successful. A prudent business owner knows that part of this decision is choosing the kind of insurance needed to protect their products, employees, and property. If your company is expanding or has specialized risks, a Commercial Package Policy might be the one for you.

CPP or Commercial Package Policy is a type of policy that would give you the benefit of bundling a variety of coverages under a single system. Moreover, CPP is not only customizable to cater to your business's specific needs, but it is also available for a wide range of companies.

Two basic coverages of CPP would be Property insurance and General liability insurance. The former covers damage to infrastructures, equipment, and more, while the latter covers costs if someone is injured from using your product or at your business. Now listed down below are just some of the different coverages you can opt to add to your CPP.

1. Business Income Insurance
   If your business has to relocate due to unfortunate calamities, this insurance will cover the lost revenues and extra expenses.
   
   
2. Business Vehicle Insurance and Crime Insurance
   From the name itself, business vehicle insurance covers vehicles owned by your business. Business crime insurance covers losses from fraud, burglary, and other business crimes.
   
   
3. Equipment Breakdown
   From the name itself, equipment breakdown covers losses from the malfunction of any equipment in your business, for example, air conditioning units.
   
   
4. Employment Practices Liability and Commercial Umbrella Liability 
   Employment practices liability covers costs related to employment issues; an example is discrimination and sexual harassment. Commercial umbrella liability fills in the gaps left by other coverages.
   
   
5. Electronic Data Processing Coverage
   This coverage includes costs related to damage or loss of electronic data processing equipment.
   
   There are still many types of coverages that you can include in your CPP. However, take note the following insurance is excluded in CPP: Health and disability, Life insurance, and Worker's compensation.

We all want insurance that would suit and protect our business. By customizing your Commercial Package Policy, you are individualizing the type of insurance you are purchasing for your business.

At Brad Spurgeon Insurance Agency Inc., we do our best to ensure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (409) 945-4746 or Click Here to request a free quote.