Growing businesses have different needs than larger companies. While all businesses require commercial insurance solutions, your risks as a newer company may not be as extensive as an older company. A commercial package policy or CPP Policy is a flexible alternative to a business owners policy.
Insurance companies design CPPs for small businesses because they understand that a small business has unique needs. You do not want to overpay for your insurance coverage. A commercial package policy includes the standard general liability and property coverages. In addition, you can add other coverages to your policy. For example, if your company has vehicles for the business, you can add business auto insurance to the coverage.
Part of the reason for CPPs is affordability. Business owner policies also combine several policies. The major difference between the two is that a BOP has standard policies that you cannot choose between. You have to pay for several coverages with few options to opt-out of the options. With a CPP, you pay less because you aren’t purchasing coverages that you won’t use.
As a small business, you may not have the money to waste on insurance policies that you don’t need. If you invest in a CPP instead, you are more likely to get the most for your money.