Property insurance
Property damage involves the harm, breaking, or impairment of something your business owns. This can include your work vehicles, business property, and items they contain—such as office equipment and merchandise.
Business personal property (BPP) insurance offers financial protection for the repair or replacement of your lost, damaged, or stolen business property. It covers things like computers, furniture, and inventories.
Small business owners who rent the property where their business is located should consider business renter's insurance. This term refers to several insurance policies that protect commercial renters.
Installation floater insurance covers materials and other commercial property while they are being transported, stored, or installed at a job site or other temporary location.
Liability insurance and property insurance provide different forms of protection, and both types of coverage are necessary to protect a small business.
Equipment floater insurance covers portable equipment and tools that are taken from one place to another, such as a worksite.
The size of your building, the value of your equipment, and other factors help determine the cost of property insurance (also called hazard insurance).
Business property insurance can pay for repair or replacement of stolen, damaged, or destroyed business property.
Premises liability insurance covers the cost of third-party injuries and damage claims related to your work, such as accidents that happen at your business or at a customer’s property.
Employee dishonesty coverage insures business owners or their clients against employee theft.
The replacement value is how much it would cost to buy a brand-new replacement for a destroyed or stolen item.
Commercial property insurance is a form of insurance that protects the property owned by your business – your building, equipment, store fixtures, and more. It pays to replace or restore stolen items and items damaged or destroyed by fires, windstorms, and other events.
Opens perils coverage refers to a type of property insurance that covers damage to your possessions from all causes except those your policy specifically excludes.
The actual cash value (ACV) is the current value of an insured item.
