What CPP Covers
A Commercial Package Policy covers building, completed additions, fixtures, permanently installed machinery and equipment, personal property that is used to service or maintain the building or premises, and, under certain circumstances, construction equipment, material and supplies.
Under personal property, the CPP covers furniture and fixtures, machinery, equipment, stock, all other personal property owned by the insured and used for business, labor, materials, or services furnished or arranged by the insured on the personal property of others, any improvements and betterments made by or acquired by the insured (when a tenant), and any leased personal property the insured has a contractual responsibility for. The CPP also covers property that is outside if it is in the open or in a vehicle that is within 100 feet of the premises.
What CPP Does Not Cover
Like any insurance policy, there are items that are not covered. A CPP does not provide coverage for accounts, bills, currency (and similar property), animals, automobiles held for sale, bridges, roadways, walks, patios, or other paved surfaces, contraband, property being transported by air or over waterways, land, crops, underground property, most vehicles, expenses related to replacing company records and other property.
Again, this is just a very brief discussion of the CPP. If you need more information, help is nearby. Contact one of our insurance professionals to talk about coverages and your coverage needs.