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  • The Standard Property Policy

    The popular Commercial Package Policy (CPP) may not be available because of your building’s size, age, construction or its contents. Fortunately there is an alternative, the Standard Property Policy (SPP).

    Besides commercial buildings, the SPP also covers completed building additions, property used for maintaining or servicing the building (such as mowing or painting equipment), permanent fixtures (such as permanent shelving), and machinery. The SPP also covers material meant for construction or repairs to a covered building.

  • Covering Business Utility Services

    A commercial property insurance policy is reliable enough to handle direct loss to a business’s structures, equipment and related property. However, what happens when weather conditions turn mean and cause indirect damage by knocking out utility services? Property could be harmed by heat-induced transformer breakdowns. This form of power interruption affecting compressors, motors and switches, at a business could result in food spoilage or damage to climate-sensitive property. Equipment damage may also occur due to an accidental, sudden loss of power.

  • Equipment Breakdown Protection

    Equipment Breakdown Coverage policies handle a substantial loss exposure to items such as unfired vessels - Air, steam or water tanks, refrigeration systems, rollers, steam pressers, ironing equipment, steam cookers, generators, chemical processing tanks, motors, switches and controls, compressors, pumps, gears, etc. Breakdown policies are important. They fill a large gap! Commercial property policies typically exclude losses involving machinery or equipment breakdowns. The breakdown form provides the following coverages:

  • Commercial Output Policy

    Many businesses protect themselves by purchasing a standard Commercial Property Policy which handles routine building and business property loss exposures. However, this type of coverage is not as useful to operations that involve the following:

    • heavy retail sales activity
    • active product transportation
    • above average processing/manufacturing, or
    • equipment installation and/or repair

    For such businesses, there is a coverage alternative, specifically the Commercial Output Policy (COP).

  • Vacancy Provision

    Under a commercial property policy, coverage is significantly different for buildings that are vacant for extended periods. Usually, certain types of coverage are completely eliminated during the vacancy. Insurance companies are interested in protecting ongoing businesses and premiums are based upon active occupancy. Continued, full coverage may be provided, but that is only at the insurance company’s discretion. If a vacant risk is accepted, it usually means paying more premium.

  • The Commercial Property Policy

    No matter the size or type of business, tangible property is a major asset. A national standard for insuring such property is the Insurance Services Office (ISO) Commercial Property Program (CPP). The CPP may be written as a single policy (covering only buildings and property) or as a package that provides property, liability and, other important protection for your business.

    The Parts of A CPP

    A Commercial Property Policy is flexible because it consists of several basic parts: