The size of your building, the value of your equipment, and other factors help determine the cost of property insurance.
Business property insurance can pay for repair or replacement of stolen, damaged, or destroyed business property.
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.
Business personal property (BPP) refers to movable items owned by your business. It includes office supplies, furniture, computers, machinery – basically everything except for the building itself.
An appraisal is a structured process in which a trained professional determines the value of an asset to facilitate a financial transaction for business or personal purposes.