Buying A Commercial Package Policy in Carmel

commercial package policy in Carmel

For most startup companies bundling several insurance policies together will not only protect the business, but it will also save money. This is commonly referred to as a business owner’s policy (BOP). For a company that is established and experiencing growth, they will likely benefit from a more comprehensive approach when it comes to providing the protection required to deal with lawsuits and other unexpected events.


If you fall into the second category, this is when taking the time to look into a commercial package policy in Carmel can really make good business sense. Let’s take a look at some of the advantages of purchasing CPP insurance for a business that requires more coverage for the risks and exposures that they may face.


Advantages of a CPP over a BOP


This concept applies to multiple business insurance policies. In the early stages, individual insurance policies were probably fine for your operations, but once they no longer suffice, as a small business owner you have two sound choices for insurance packages: a business owners policy or a commercial package policy. While both offer multiple types of policies bundled together, there are some obvious differences between these two options.


A BOP may be perfectly suitable for people looking to save money while only requiring a pre-packaged insurance solution for starters. But, with a commercial package policy there are a lot more options, and you can better tailor the coverage to cover all aspects of your business.


It may simply be a choice between buying several policies that are bundled together, but that may not necessarily fulfill your needs or expectations of what the coverage should include, or customizing your insurance needs to get the exact coverage you want, but at a slightly higher cost.


There are several options to choose from when putting together your commercial package policy in Carmel, and these are the most common types of coverages available for a small business:

  • Product liability
  • General liability
  • Professional liability (also called errors and omissions)
  • Property
  • Business income (also called business interruption)
  • Business vehicle
  • Employment practices liability, and
  • Commercial umbrella


All of these policies can be customized for coverage limits, named perils, and deductible amounts that you’ll pay. Your CPP insurance will help your business get the most reliable coverage available that any small business needs and should always have in place.