What is property insurance?
Your livelihood is dependent on the survival of your business, so it is imperative that you protect it against any potential threat—big or small.
Basic property insurance covers losses due to fire or lightning, including the cost of removing property as a way to protect it from further damage.
Policies are available that provide coverage for extended perils, such as floods, windstorms, hail, earthquakes, acts of terrorism, explosion, riots, smoke, civil commotions and vehicles that damage your property.
What property is covered?
- Buildings and other structures (leased or owned)
- Furniture, equipment and supplies
- Money and securities
- Intangible property (goodwill, trademarks, etc.)
- Business contingency for suppliers
- Records of accounts receivable
- Electronic data processing equipment (computers, etc.)
- Ordinary payroll
- Extra expenses as a result of loss
- Signs, fences and other outdoor property not directly attached to the building
- Valued documents, books and papers Mobile property (construction equipment, etc.
- Property in transit
- Satellite dishes
- Leasehold improvements you made to the rented premise