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What is Special Multi-Peril (SMP) Insurance?
Special Multi-Peril (SMP) insurance is a type of commercial insurance that includes coverage under one policy that otherwise would be covered by multiple different insurance policies. Special Multi-Peril insurance puts multiple types of insurance policies under one contract, simplifying and centralizing claims while potentially reducing costs for policyholders.
Central Co-Operative Insurance Company (CCIC) has worked with insurance agents and brokers for over 134 years. Is a Special Multi-Peril Insurance policy right for your client?
What’s Included in a Special Multi-Peril Insurance (SMP) Policy?
While all insurance products are customized to meet the individual needs policyholders, Special Multi-Peril insurance is inherently customizable. Special Multi-Peril insurance is a type of bundling of coverages that would otherwise be included in separate insurance policies. Because of this, what’s included in Special Multi-Peril insurance policy coverage depends on the needs and budget of the policyholder.
Central Co-Operative Insurance Company offers a wide variety of SMP policies such as:
Additional coverage options for a Special Multi-Peril Insurance policy include mechanical breakdown insurance. The purpose of mechanical breakdown insurance coverage is to cover the cost associated with repairing or replacing broken equipment or technology.
CCIC also offers service line insurance as an additional coverage for a Special Multi-Peril Insurance policy. Agents and policy holders may also know this coverage as sewer line insurance or water line insurance. This type of additional coverage is for the cost of repairing or replacing damaged pipes or wires that are underground on an organization's property.
An Outstanding Claims Department for Special Multi-Peril Insurance
Our Special Multi-Peril insurance policies are supported by a friendly and helpful claims team. Our team of insurance claims professionals have the specialized knowledge, and commitment to approachable service, that policyholders depend on. As a result, claims get resolved promptly.
At CCIC, we treat our employees right, and our employees treat clients right. CCIC provides our employees with a competitive benefits package and a company culture that values each team member. As a result, our claims team provides friendly service to each policyholder, and Special Multi-Peril insurance claims are handled efficiently.
Let’s Talk About Special Multi-Peril Insurance
Is a Special Multi-Peril policy right for your client’s coverage needs and budget? Let’s find out together. CCIC has partnered with insurance agents and brokers for over 134 years to get competitively priced commercial insurance plans.
