Commercial Package Policy ​​


A commercial package policy will combine two or more insurance coverages that you will need to protect your business. As the name suggests, it will be a package consisting of several types of insurance coverages, such as general commercial liability, commercial property, business crime, equipment breakdown, and commercial auto liability. However certain coverages may not be included in the packages. For instance, workers’ compensation insurance will not be covered in a package policy since it is mandatory to buy that in Philadelphia.

Commercial Package Policy For Business​

A commercial package policy in Philadelphia will cover different types of damages within one policy. It is very similar to umbrella insurance in concept, but targeted specifically at commercial enterprises.

What are the types of coverages included in a Commercial Package policy?​

Following are the common type of insurance that are covered:

  • Property insurance: This covers all the damages caused to your building, office, and equipment.
  • Business income insurance:This covers losses that a business may experience following a disaster. Businesses can use that insurance money to rebuild their operations after the devastation of a disaster.
  • Business vehicle insurance: This covers damages incurred upon the vehicles owned or used by the company.
  • Business crime insurance: This protects your company from financial losses caused due to business-related crimes, whether they were performed by an employee or third party. This may include, but is not limited to: theft, burglary, employee dishonesty, and fraud.
  • General liability insurance: This covers a variety of claims relating to business operations. Property damages and bodily injuries are the specific damages covered under this policy.
  • Equipment breakdown insurance: Machinery-related issues are common and can occur at any time with little to no warning. This enables a business owner to resolve any such machine failures quickly and effectively by covering any costs associated with repairing or replacing the damaged parts; as with any insurance however, repairs and replacement costs are only covered up to a certain fiscal threshold established in advance.
  • Inland and marine insurance: This covers businesses products and properties while in transit from your primary center of operations to another location. Your policy will include details regarding what destinations are covered, and which are not (i.e. international).
  • Electronic data processing insurance: This covers costs related to data loss or damage caused during data transfer due to the failure of a third party product.

A good CPP will protect your business with a range of policies. If you’re a business owner in Philly, consider getting a Philadelphia commercial package policy for your business today.