Commercial Liability Insurance · Commercial Package Policy · Insurance

Buying the Right CPP Insurance in New Brunswick NJ

A startup company may do just fine by bundling several low-priced insurance policies together, commonly known as a business owners policy (BOP), while a company that is experiencing expansion and growth will likely require a more comprehensive approach when it comes to providing the kind of protection required to deal with unexpected events. This is when taking the time to look into a commercial package policy (CPP) can really make good business sense. Let’s take a look at the advantages of purchasing CPP insurance in New Brunswick NJ for a burgeoning business.

A BOP versus a CPP

This concept applies to multiple business insurance policies. In the beginning, 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. Both offer multiple types of policies that are bundled together, but there are some obvious differences between these two options.

A BOP is perfectly suitable for people looking to save money or only currently requiring a pre-packaged insurance solution. But a commercial package policy offers a lot more options, and can be better tailored to cover all aspects of your business. Let’s break it down thusly; you can buy several policies that are bundled together but may not necessarily fulfill your needs or expectations of what your coverage should include, or you can customize your insurance needs to get the exact coverage you want, just at a slightly higher cost.

There are several options for you to choose from when putting together your commercial package policy, 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 in New Bunswick NJ will help your business get the most reliable coverage available that any small business needs and should have in place.