Business Package Policy & Commercial Package Policy Insurance in Chesapeake, VA
What Is a Business Package Policy (BOP)?
A Business Owners Policy (BOP) is designed to bundle commercial property, general liability, and other common business coverages into one streamlined policy. Combining these coverages into a single package is generally more cost-effective than purchasing each one separately, though actual savings and available coverage depend on your business and carrier.
At Southern Insurance Services, Inc., we work with independent business owners throughout Hampton Roads, including Chesapeake, Virginia Beach, Norfolk, Portsmouth, and Suffolk, to help identify coverage options suited to their operations.
What’s Typically Included in a BOP?
A standard Business Owners Policy generally offers coverage options such as:
- Commercial Property – addresses damage or loss to buildings, equipment, and inventory
- General Liability – addresses third-party bodily injury and property damage claims
- Business Interruption Insurance – helps offset lost income following a covered disruption to operations
- Equipment Breakdown Coverage – helps with the cost of repairing or replacing essential business equipment
- Hired & Non-Owned Auto Liability – addresses liability for vehicles used for business purposes that your company doesn’t own
Coverage availability, terms, and limits vary by carrier and policy. This is a general overview, not a description of any specific policy.
What Is a Commercial Package Policy (CPP)?
A Commercial Package Policy (CPP) is a flexible, modular option built for mid-to-large businesses that may need broader coverage or higher limits than a BOP typically provides. Unlike a BOP’s fixed bundle, a CPP is assembled from individual commercial lines coverage parts, allowing the policy to be structured around your business.
What Coverage Can a CPP Include?
A Commercial Package Policy can generally be built from coverage parts such as:
- Commercial Property
- Commercial General Liability (CGL)
- Commercial Auto
- Commercial Inland Marine
- Commercial Crime
- Equipment Breakdown
- Business Income and Extra Expense
Which coverage parts are available, and on what terms, depends on the carrier and your business’s specific risk profile.
BOP vs. CPP: Which One Might Fit Your Business?
A Business Owners Policy (BOP) is often suited to smaller businesses with standard, predictable risk exposures. A Commercial Package Policy (CPP) may be a better fit for businesses that have outgrown a BOP, operate across multiple locations, or require higher coverage limits. The right structure depends on your specific operations, assets, and risk tolerance.
Get a Business Insurance Quote in Hampton Roads
Not sure whether a BOP or CPP fits your business? Southern Insurance Services, Inc. can review your operations and help you compare coverage options. Contact us today for a quote.