At Frankenmuth Insurance, we work hard to protect growing companies with comprehensive coverage. But you may be wondering: What type of business insurance do I need? It depends on a number of factors, such as the size of your business, the number of employees and the type of business you run. Both business owner policies (BOPs) and commercial package policies (CPPs) offer protection and peace of mind, but one really suits your unique needs better.
Your agent will get to know your company and recommend a policy for you. But to help you understand the differences, we break down BOP compared to CPP. Discover them now.
What is a Business Ownership Policy (BOP)?
Business owner policies are pre-assembled, standard policies and work particularly well for small businesses such as contractors, stores and wholesalers and distributors. Even if the insurances are predetermined, your insurance agent can work with you to add coverage that is right for you.
The standard policy functions include:
- Business liability ̵
- Commercial Property – This feature protects your building and its contents. This includes things like computers, office furniture, mechanical equipment, warehouses and more.
- Insurance Interruption Insurance – If you need to close the doors temporarily due to a covered loss, this coverage offers financial protection.  What is a Commercial Package Policy (CPP)?
Commercial parcel policies are good for larger companies or those with unique risks. In addition to property coverage and liability that underlies each insurance policy, you may need additional coverage, including:
What type of business insurance do I need?
Your insurance agent is here to help you determine the right coverage for your business. The best way to make sure you are completely covered is to have a sincere conversation about where your business is today and where it is going tomorrow.
Talk to one of our local, independent agents to get the coverage that is right for your unique business needs.