Business Personal Property
InsuranceNoodle has assembled products from many of the nation's leading Business Personal Property Policy insurers for you to choose from. With our unique technology, we can match your business risk profile with insurance companies that specialize in your industry and want your type of business. We'll help you get the right coverage from the right insurer.
Product Summary
Many small business owners buy a type of insurance coverage called a Business Personal Property Policy. This is a policy that covers the contents belonging to the insured and being used in the covered business.
A Business Personal Property Policy provides only the coverage limits shown on the declarations as covered property selected by the policyholder.
What's Covered?
A Business Personal Property Policy is covering property owned by the insured and used in the named insured business.
Property coverage generally includes the contents of buildings, such as furniture, supplies, fixtures, equipment, and inventory related to the business. Consequential Loss Coverage may also be available for indirect losses, extra expense and loss of anticipated profit.
Property insurance can be purchased based on the property's actual cash value (its replacement cost minus depreciation), its current replacement cost or another agreed-upon amount, such as an appraisal.
What Isn't Covered?
A Business Personal Property Policy doesn't cover damage due to earthquakes or floods; workers' compensation; group health, life or disability insurance; insurance for company-owned vehicles; and specialized liability risks such as professional liability, director's and officers, employment practices and malpractice.
What Affects the Cost of the Policy?
The premium is based on the amount of coverage and deductibles selected by the insured.