What is a Commercial Package Policy?
Businesses in New York are exposed to lots of possible risks. They may have property vandalized, supplies stolen, be sued by an employee, or have any number of other incidents occur. A commercial package policy offers protection against many of the risks that businesses face.
Commercial package policies are bundled insurance policies that have several individual policies within them. The individual policies are all commercial policies rather than personal policies, hence the term “commercial package policy.” Commercial package policies are sometimes abbreviated as a “CPP”.
What Coverages Do Commercial Package Policies Include?
As a bundled form of insurance, a CPP can be customized. In fact, commercial package policies are highly customizable. They often contain individual policies that provide coverages many businesses need, and they can also have individual policies that are particular to a business’ industry or situation.