Understanding Commercial Package Insurance Policies

Understanding Commercial Package Insurance Policies

Insurance is one of the best ways to protect your business. You get financial protection from all catastrophes for a small, regular investment. However, buying commercial insurance individually can be prohibitively expensive. That is why asking about commercial package policies (CPP) is essential. A CPP offers financial savings and lets you get enough insurance to cover your needs.

Business Owners Policy

A business owner’s policy is the primary insurance most businesses need. It offers liability and property coverage for regular-risk companies. It is best suited for small, uncomplicated businesses with little risk. Many people think of it as a starter policy. However, as your business grows, so do your insurance needs.

Types of Commercial Insurance

There are several other types of commercial insurance. Not all businesses need all kinds of insurance coverage. An insurance agent can help you explore your needs and determine whether a specific type of insurance could be helpful for you.

• Property Insurance
• Business Vehicle/ Fleet Insurance
• Auto Insurance
• Contents Coverage
• Business Crime Insurance
• Electronic Data Processing Coverage
• General Liability Insurance
• Business Income Insurance
• Commercial Umbrella Liability
• Employment Practices Liability
• Equipment Breakdown
• Pollution Liability
• Inland Marine

Not every business needs all of that coverage. Those are just some of the main types of coverage that you may want to include in your CPP. If you are in a high-risk industry, you may need additional types of coverage. Depending on your location, your business type, and the size of your business, you may also have to carry worker’s compensation coverage.

Exclusions

While commercial package policies are comprehensive coverage, they will not cover everything. In addition to a CPP, you may need some additional coverage. For example, you may want to supply your employees with life insurance, health insurance, and workers’ compensation coverage. You may also want specialized policies for your executives or boards of directors. Capstone can help you find additional policies to meet all of your needs, including insurance coverage as part of employee benefits packages.

Contact Capstone Today

To discuss your insurance needs with an agent who will look out for your interests, contact Capstone today. We will review your needs and help you find an affordable plan that provides you with the protection you need.

Categorized in: Blog, Business Insurance