Accounts receivable insurance protects your small business from financial losses when you can’t collect money from clients or customers. This type of insurance is also called trade credit insurance.
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 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.
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.
The replacement value is how much it would cost to buy a brand-new replacement for a destroyed or stolen item.
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.
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.
Equipment breakdown coverage is a form of commercial insurance that provides funds to repair or replace damaged machinery or equipment that has suffered a mechanical or electrical failure.
The actual cash value (ACV) is the current value of an insured item.
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.
Named perils coverage is a type of commercial property insurance that only protects you against losses your policy specifically lists.
A wind and hail deductible is the amount of money you’d have to pay out of pocket before your insurance will pay out the rest of your claim for wind and hail damage.