What is a Commercial Package Policy?

Businesses face a multitude of potential risks, ranging from damage caused by fire or vandalism to lawsuits over employment practices or employee injuries. A commercial package policy provides protection from many of the risks that businesses face, and it can be customized for a particular business’ insurance needs.

A commercial package policy is a bundled insurance policy that contains several individual insurance policies within it. The individual policies are all business, or commercial, policies (as opposed to personal policies), and they can be adjusted if necessary. Commercial package policies are sometimes abbreviated as a “CPP.”

What Benefits Does Purchasing Policies Together Offer?

Many of the individual policies offered through commercial package policies could be purchased as individual, stand-alone policies. Getting them together through a package policy, however, makes managing premiums easier. Businesses just have one premium payment instead of several. It also usually nets businesses some savings, as many insurers offer discounts for bundling multiple policies together.

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What Types of Individual Policies Can a CPP Include?

CPPs are highly customizable, and package policies can include a wide array of individual policies. Examples of individual policies that might be included in commercial package policies are:

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The list of potential coverages could go on. These are just a few of the many different individual policies that commercial package policies can provide.

(Workers compensation, health, and disability insurance usually aren’t available through commercial package policies. They’re typically purchased separately, instead).

What’s the Difference Between Business Owners Policies and CPPs?

In some ways, CPPs are similar to business owners policies (BOPs). They’re both package policies that offer multiple individual commercial policies within them.

BOPs, however, are usually only useful to small businesses that have minimal insurance needs. While BOPs provide crucial coverages, like business interruption and general liability coverage, they aren’t designed to provide specialized policies that many businesses need. Both large businesses and businesses in certain industries often need more protection than BOPs afford.

A CPP, in contrast, can meet the needs of most businesses because it’s highly customizable. Small businesses, large ones, and ones that have unique insurance needs can often adjust a commercial package policy to their needs. Through a CPP, businesses can get many different types of coverage that aren't neccessarily available in a BOP.

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How Can Businesses Compare Commercial Package Policies?

Businesses looking for a commercial package policy can quickly compare quotes from multiple insurers with the help of an independent agent. An independent insurance agent will be able to help a business decide what coverages it wants, and then look at policies that offer those coverages and select the best one.

Meet Your Industry Specialist

Jeff Kroeger

Principal, Senior Vice President, and Head of Commercial Lines, Mr. Kroeger also manages the company's hospitality book of business and is that unit's primary producer. He is a graduate of Montclair State University and was named a 2015 Young Gun Insurance Business America.

Jeff has been providing exceptional insurance for restaurants, bars, nightclubs, and more for many years. He understands the unique challenges this industry faces and delivers the right coverage at an affordable price.

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