Client Portal
Report a Claim
Library
Commercial Package Policy (CPP)
A Commercial Package Policy (CPP) allows a high degree of customization for more complex and larger businesses, so unique coverage requirements can be combined into a single policy. The CPP typically begins with general liability and commercial property policies. Other types of coverage that may be added are business auto, umbrella liability, business interruption, employment practices liability, builders risk, inland marine, crime protection, cyber risk, professional liability, and environmental/pollution liability.
While some carriers allow multiple coverages to be added to the CPP, some types of coverage cannot be added and must be purchased as a standalone policy, such as workers compensation, directors and officers, errors and omissions, group life, and disability income.
Through the discovery process, we will identify the policies needed and the insurance carrier that offers the best plan and pricing for you.
Commercial Package Policy (CPP) FAQs
What liability limit should I have on the policy?
No less than $1,000,000 per occurrence. You should review your exposures with us to determine a limit based on your business/situation.
What deductible should I choose for my buildings?
Most insurance companies set the minimum deductible at $1,000, while the average policy deductible is closer to $2,500. It is best to evaluate your risk and work with us to determine the deductible that is best for your situation.
Will I get a premium discount if I install security cameras?
- Typically, insurance carriers do not apply discounts for security cameras; however, if a claim is filed against you, having the camera footage proving you were not at fault can greatly benefit you.
- Be careful not to disable your alarm system(s). If you are receiving a discount on your insurance premium for having a fire or burglary alarm in place when a fire or burglary occurs, the alarm system must be active at the time. Should you have manually disabled the alarm for any reason and there was a loss, the insurance carrier may not provide any coverage because the system had been disabled.
- If your insurance premium is discounted for having a fire or burglary alarm in place, the system should not be disabled. If the system is manually disabled and a fire or burglary occurs, the insurance carrier may not provide any coverage because the system was not in place to reduce the amount of damage.
Does my policy cover the equipment that I rent?
Possibly. Some policies have coverage built in, but others don’t, and an endorsement would be needed. We can work with you to determine the amount of coverage you need and the best way to obtain coverage through an endorsement or a standalone policy.
What is a Certificate of Insurance (COI)?
A COI is a document provided by the insurance agency to a third party that proves a business has insurance coverage as of the date the COI is issued. It provides one or more lines of insurance, policy number, effective and expiration dates, insurance company, and limits of insurance.
Does FIFS represent more than one company?
Yes. FIFS is an independent agency, which means we are not limited to one company. We have contracts to sell policies for multiple carriers, and also have relationships with brokers for hard-to-place risks. This gives us the flexibility to choose a company and product that best suits the client rather than a “one size fits all” concept.
We represent a variety of companies including mutual, regional, and nationwide companies.
The important thing to remember is that by choosing FIFS, you are allowing us to shop and purchase insurance on your behalf rather than having to spend your valuable time calling multiple insurance companies. Also, if anything changes with your current insurance program, we are happy to discuss, reassess your needs, and place you with a different insurance program.
FIFS is a member of the Trusted Choice brand of independent insurance agencies with a commitment to adhere to the highest level of customer service standards.
Is there cyber liability coverage included in my CPP?
Most policies include some cyber coverage; however, based on your exposures, we may recommend you increase the coverage or have a standalone cyber policy.
We’re a non-profit organization. Do we need a directors & officers policy?
If you have a Board of Directors or a leadership board, then yes, you should have a directors & officers liability policy.
At FIFS, we are dedicated to working with businesses to improve the overall health of your company using strategies to manage risk, control utilization, and ultimately improve your bottom line. Learn more about FIFS Employer Advantage.
