Commercial Multiple Peril Policy

DEFINITION of 'Commercial Multiple Peril Policy'

A commercial insurance policy that offers at least two forms of coverage. Commercial multiple peril policies can cover a variety of losses incurred from numerous causes. Some of the types of coverage offered include business crime, business automobile, boiler and machinery, marine and farm.

BREAKING DOWN 'Commercial Multiple Peril Policy'

Commercial multiple peril policies are also known as "commercial package policies." These policies are sold by property and casualty insurers to businesses of various types. Many farmers and ranchers also purchase these policies for multiple forms of protection against incidents such as farm fires.

RELATED TERMS
  1. Commercial Package Policy (CPP)

    An insurance policy that combines coverage for multiple perils, ...
  2. Named Perils Insurance Policy

    A home insurance policy that only provides coverage on losses ...
  3. Commercial Output Policy (COP)

    An insurance policy that provides both commercial property and ...
  4. Commercial Property Insurance

    Insurance that is used to cover any type of commercial property. ...
  5. Difference In Conditions (DIC) ...

    An insurance policy that provides expanded coverage for some ...
  6. Commercial Lines Insurance

    Commercial insurance lines help keep the economy running smoothly ...
Related Articles
  1. Personal Finance

    With HO5 Insurance, You're In Charge

    This home insurance covers everything and will put the onus on your insurance provider.
  2. Personal Finance

    Insurance Coverage: A Business Necessity

    Don't go to work without this policy in place - especially if your work is in your home.
  3. Personal Finance

    Filling The Gaps In General Liability Insurance

    Standard liability coverage may not be enough. Special needs call for specialized policies.
  4. Trading

    For Top-Notch Insurance Coverage, Compare Quotes

    Find out how to use and compare policy options to get the best coverage at the best price.
  5. Managing Wealth

    The Role of Commercial Banks in the Economy

    We interact with commercial banks daily to carry out simple financial tasks. That said, the function and creation of a commercial bank is anything but simple.
  6. Markets

    What's a Commercial Bank?

    A commercial bank is a type of financial institution that accepts deposits, offers checking account services, makes business, personal and mortgage loans; and offers basic financial products ...
  7. Managing Wealth

    Find Fortune In Commercial Real Estate

    Investing in big buildings means big money - and bigger risks.
  8. Personal Finance

    Do You Need Casualty Insurance?

    Find out how different types of coverages can protect you and which policy is right for you.
  9. Personal Finance

    The Importance Of Property Insurance

    Property insurance is important, but there's a lot you need to learn in order to get the proper coverage.
  10. Managing Wealth

    7 Issues to Consider When Determining Life Insurance Coverage

    Seven issues to consider when buying life insurance to ensure the coverage is tailored to meet your personal financial situation.
RELATED FAQS
  1. What are some examples of unexpected exclusions in a home insurance policy?

    Learn about commonly excluded perils with different standard insurance policies. Explore events that homeowners should consider ... Read Answer >>
  2. Does renters insurance cover storage units?

    Learn how renters insurance coverage extends to a storage unit but is usually limited to a percentage of the total contents ... Read Answer >>
  3. Does renters insurance cover moving?

    Learn how a renters insurance policy will only provide coverage during a move under certain circumstances, such as damage ... Read Answer >>
  4. How can retail investors invest in commercial paper?

    Find out how individual retail investors can purchase short-term commercial paper, but why it rarely makes good investment ... Read Answer >>
  5. What's the difference between investment banks and commercial banks?

    Understand the principal differences between investment banks and commercial banks, and the areas of banking services that ... Read Answer >>
  6. How does investment banking differ from commercial banking?

    Discover how investment banking differs from commercial banking, the responsibilities of each and how the two can be combined ... Read Answer >>
Trading Center