Commercial Package Policy

Commonly known as a CCP, a commercial package policy is a coverage bundle designed to protect your business against a range of risks that threaten your operation. A standard CCP includes coverages such as general liability and commercial property, paired with numerous other components or options tailored to your unique business operation, such as workers compensation.

One key advantage of a commercial package policy is that it can save you money on your premiums compared with purchasing a separate policy for each risk exposure.

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Do I Really Need a Commercial Package Policy (CPP)?

Most commercial package policies (CCPs) are written for small to medium-sized businesses. Because SMBs tend to have smaller, less complicated operations, they also generally tend to have lower risk exposure in comparison compared to a large enterprise or chain.

Because a small mom-and-pop grocery store tends to have less risk exposure than a multinational manufacturing firm, they likely need significantly less insurance coverage.

If you’re an SMB interested in saving money on your premiums with a single custom-tailored plan, a Commercial Package Policy may very well be a great fit for you.

Some industries that commonly carry CPP insurance include:

  • Offices
  • Restaurants
  • Wholesalers
  • Light manufacturing
  • Consumer services
  • Health care providers
  • Educational institutions
  • Religious organizations
  • Technology consulting firms
  • Apartment complexes and property management firms

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What Commercial Package Policy Coverages Do I Need?

At Tomins, our consultative approach to designing insurance for entrepreneurs and small businesses helps make sure you’re covered at the most competitive price possible. We pride ourselves on offering the right coverage for your specific need.

Commercial package policies can be highly customized to fit the unique needs of a modern small or medium-sized business. While the average commercial package policy includes standard general liability and commercial property coverages, many also include coverages for commercial auto.

Businesses that need protection for goods that they transport often also include inland marine coverage in their CPP. Depending on your unique situation, there are several other coverages that would be wise for you to consider.

While this list is far from exhaustive, some additional CPP  coverages that might make sense for your business include:

  1. Employment Practices Liability Insurance: If you have employees, EPLI coverage could prove very beneficial. This coverage can help with costs related to negligent or improper hiring and termination, along with sexual harassment, discrimination, and other employment-related liabilities.
  2. Electronic Data Processing Coverage: Closely-related to cyber liability insurance, this coverage is especially important for financial service businesses and others that work with sensitive personal or financial client data. Electronic data processing coverage can help with the cost of lost, stolen, or damaged data.
  3. Business Crime Insurance: As its name implies, business crime insurance can help protect your business against the costs of theft, burglary, embezzlement, and a variety of other business crimes.
  4. Equipment Breakdown Insurance: This coverage can help with the costs of equipment failure. Also known as boiler and machinery insurance, equipment breakdown coverage is designed to help a business recover from an unexpected breakdown of their heating, cooling, electrical, communication, or other equipment.
  5. Business Income Insurance: Business income insurance is another important coverage for a business owner to consider. This coverage can help cover the loss of income suffered from a covered interruption to your business.
  6. Pollution Liability Coverage: This insurance can assist a business with the costs of pollution, including injuries sustained as a result and the cost of cleanup.
  7. Commercial Umbrella: This coverage can protect any business  owner against claims made in excess of the general aggregate limits of your standard insurance coverage.
  8. Professional Liability Insurance (E&O): Also known as professional liability insurance or Errors and Omissions (E&O) insurance, this coverage is designed to protect you from legal damages resulting from mistakes and negligence in giving a professional opinion. E&O is especially important for project managers and professionals that offer consulting or professional advice, such as architects or electricians who install security systems. There are many other coverages available beyond the ones we’ve mentioned here. If you have questions regarding the coverages that make the most sense for your business, our Tomins business insurance experts are happy to help.

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What Do I Need to Get a Commercial Package Policy?

At Tomins, we are in the business of making commercial package insurance easy. Start your free, personalized insurance quote now at our online quote page . To make sure we can provide the most accurate and competitive quote possible, it helps to make sure you have the following information available when you apply:

  • Business address and Tax ID 
  • Income for your most recently completed fiscal year 
  • Number of employees you currently employ
  • Information about other insurance you currently hold
  • Volume, nature, and storage method tenant or client data  
  • Proof of professional licensing and other relevant certifications or permits  
  • History of past claims (at least three years) 

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