Commercial Property and Commercial Package (BOP, CPP)

Overview

Commercial Property Insurance compensates a business if the property used in the business is lost or damaged as the result of various types of common perils such as fire or theft. Property insurance covers not just a building or structure but also what insurers refer to as personal property, meaning office furnishings, inventory, raw materials, machinery, computers and other items vital to a business’s operations.

Commercial Package Insurance includes property, general liability, crime business interruption and can have endorsements that customize the form for particular class of business i.e. restaurants, flower shop, etc.

Classes	Apartment: owners of buildings used exclusively as apartment houses, including cooperatives. Building:  lessors of commercial buildings occupied by offices, mercantile and retail establishments. Business: providing personal consumer services, businesses repairing light consumer goods and businesses engaged in printing. Condominium: owners of buildings used exclusively as condominiums. Contractors:  residential, specialty trade contractors. Garage: independently operated or franchised automotive service and repair businesses. Manufacturers:  food products, leather goods, metal goods, paper products, plastic goods, rubber products, textiles and wood products. Professional Office:  Firms providing medical, legal, financial or other professional services for their clientele. Religious:  churches and other houses of worship not affiliated with operating educational institutions. Restaurant: franchise, family, and high end eateries  Store: retailers primarily engaged in brick-and-mortar commerce. Technology: Manufacturers of electronics and instruments products. Technology Office:  firm providing computer consultation and a variety of technology services for their clientele. Wholesalers: distributors of various types of durable and non-durable domestic goods.
What is Required / Forms	New Submissions Requirements: Complete ACORD Applications and Company Supplemental Application if applicable - ask your Acct Exec. Current Valued Loss Runs with a minimum of 3 years (5 years preferred) If Available: Copy of current policy or explanation of the type of coverage currently provided. Expiring premium or target premium
Direction for Submissions	Step 1: Print the ACORD form. Step 2: Complete the ACORD form. Step 3: Fax the completed signed ACORD form to 866-884-4796 or scan and email the form to info@firstchoiceii.com.
Insurance Company Rating	All Carriers are “A” rated by AM Best
Territory	All States
Coverage	Commercial Package includes the following: Commercial Property, General Liability, Crime Coverage & Business Interruption
Deductibles	$500, $1,000  & Up
Marketing Material	Available by Request to your Acct Exec
Premium Financing	Yes
Notes