When opening a small business, one of the most important investments you can make in your new startup is purchasing insurance. The insurance you maintain protects your business from liability. This liability can include litigation if you are taken to court, damage to property, accidents, and even times of struggle.
Every business is different so each business will have different needs. A commercial package policy is designed to cover all your needs. A CPP policy can include coverage of your building and contents, as well as equipment maintenance and protection from accidents that could potentially happen at off-site events.
As an example, if you are a restaurant owner, you would not only want to insure the building in which your business operates, but you would want to insure the equipment on which you cook. Furthermore, you would want to protect yourself from litigation should a patron experience an accident in your facility, whether your business is at fault or not. If your business does outside catering, you would also want protection on your traveling equipment and hazards at the off-site event.
A CPP policy will be a bundle of several policies that fit your business needs. For your particular industry, an agent should be able to assist you in customizing the right policy to ensure you and your business is protected so you can continue to concentrate on the growth of your business.