When youre busy running your business, you dont want to spend valuable time trying to determine which insurance policy is best for you. Thats why commercial package policy insurance provides you with all of the coverage you need to protect your business. Here is an overview of the main components of a Commercial Package Policy (CPP).
Buildings and Contents
With CPP insurance, the building that you own is protected, as well as all of your belongings.
Buildings and contents insurance may cover the costs of:
If any of these items are damaged or stolen, your insurance policy can cover them. Buildings and contents insurance also protects structural damage to your building as a result of a severe weather event.
Business Interruption Insurance
Another essential component of commercial package policy insurance is business interruption insurance. This type of insurance keeps you protected if you close your business temporarily due to a situation that is out of your control. By covering normal operating expenses as well as any expenses associated with moving your business, business interruption insurance can cover your lost income.
General Liability Insurance
General liability covers your business against various claims. These may include allegations of property damage, bodily injury or personal injury. A general liability policy also provides coverage for any medical expenses associated with the claims against your business. Having this type of insurance is vital for your companys protection.