Property insurance for buildings and contents owned by the company — there are two different forms, standard and special, which provides more comprehensive coverage.
Covered Building Property
- Buildings owned or rented
- Additions under construction if not covered elsewhere
- Completed additions
- Indoor and outdoor fixtures
- Permanently installed machinery and equipment
- Personal property you own as a landlord in furnished apartments
- Personal property you own used to service or maintain the building or premises
Covered Business Personal Property (BPP)
Exterior building glass you must cover if you are a tenant
- Leased personal property you are contractually responsible to insure
- Personal property you own and use in the business
- Property of others in your care, custody, or control
- The use interest in any improvements and betterments you made or acquired if you are a tenant
The business property must usually be stored or kept in qualifying proximity of business premises (such as within 100 feet of the premises).
Business interruption insurance, which covers the loss of income resulting from a fire or other catastrophe that disrupts the operation of the business. It can also include the extra expense of operating out of a temporary location.
Liability protection, which covers your company’s legal responsibility for the harm it may cause to others. This harm is a result of things that you and your employees do or fail to do in your business operations that may cause bodily injury or property damage due to defective products, faulty installations and errors in services provided.