Property Insurance

Property Insurance covers the risk of property loss in a variety of commercial situations, including commercial buildings, equipment, furniture, fixtures, inventories, business records, supplies and other physical items.

Building Insurance 

Covers the building and permanently installed equipment from direct physical loss.

Business Personal Property 

Business Personal Property covers the business property of the insured while in or within a specified distance from the building for direct physical loss.  Tenants can also include permanently installed equipment or improvements to the property.

Building Ordinance and Increased cost of Construction

This is an important coverage that covers the increased cost to repair or replace a building that has suffered a direct loss.  An example would be a building that was partially destroyed in a fire that the local ordinance required a fire sprinkler to be installed in the building before they would allow the building to be occupied or receive an occupancy permit.

Equipment Breakdown Coverage/Boiler & Machinery Coverage

This coverage will cover a breakdown of equipment caused by mechanical failure, explosion of a boiler, and additional coverage perils for the property onsite such as power surge. 

Loss of Rents Coverage/Business Income

  • Building Lessor - Covers the loss of rental income from a direct physical loss to the property.  This will usually accompany a loss to the building or business personal property.

  • Building occupant/Business Owner - Covers the loss of net income that is a result of a direct physical loss to your building or business personal property.

Extra Expense

Sometimes combined with Business Income, this coverage provides coverage to maintain you business operations after a covered loss.  An example would be the temporary leasing of a building to continue operations.

Blanket Limits for Large Risks

Blanket Limits can be used on large property schedules to eliminate single building limits under the policy.  Instead you would have a larger limit that included all locations or types of coverage.  For Business Personal property this would be useful for an operation that moved inventories from one location to another on a regular basis.

*Coverages are subject to underwriter approval and are optional on many programs