Property Insurance

Property coverage protects business property and inventory used in the course of business, even if that property is removed from your place of business when it is damaged. This coverage includes owned buildings, business personal property, computer hardware/software, property of others and loss of earnings due to a covered cause of loss.

Why Property Coverage is Required:

Here are just a few reasons why a business or contract worker needs property coverage.

• If you have your customers' property in your care, custody, or control, your customer may then require "bailee" coverage or property of others coverage. This protects you or your business from claims and claims expenses that may emanate from damages to their property.
• If you lease equipment, the leasing or finance company will require that you carry property insurance on that equipment until the loan is paid. This assures the finance company that the property will be repaired or replaced to its original value in the event of a covered loss.
• Your homeowners policy will not provide the appropriate coverage you need for your business personal property. Limited coverage, if any, may be included, however this coverage is a very basic endorsement intended for incidental business coverage, and does not provide the broad and robust coverage a business insurance policy provides.