What is Business Personal Property Insurance?

This type of insurance covers inventory that is rented out and things you own to generate business income. Think of movable items such as fixtures, equipment, furniture and office supplies.

Get cover for accidental coffee spills on a computer and/or damage from a burst pipe or fire.

This is an important cover for your business premises.

What is property insurance for a business?

Business personal property (BPP) is defined as inventory that you can move and that your company owns. A business owner policy (BOP) is an umbrella coverage that includes insurance for your property. These generally relate to the structures and permanent establishments.

The BPP insurance covers all other things. What would move if you pick up the building and shake it. These items are also referred to as tangible personal property. When you start researching, you will see that there are different types of business insurance.

Why You Should Have Business Personal Property Cover (BPP)

Small businesses can take advantage of this type of insurance. Then view these business insurance policies.

Here are five other reasons why this BPP policy helps. Remember that little or no coverage exposes you to lawsuits.

They protect your inventory – The financial losses from things like sprinkler leakage or fire damage are covered. They cover the furniture – Conference tables, furniture and other movable property important to your business can be replaced. Even if you move to another location. Have policies that cover important inventory items such as scissors and electronics. Equipment and machines are included – Don’t let equipment failure cost your business time and money. Especially if water damage is the culprit. Also some improvements – Made improvements to a rented space as a tenant? A BPP policy covers the repair or replacement of property in the event of vandalism or an explosion. These coverages protect upgrades – Have you done permanent renovations to a business? Such as custom built-in wardrobes and/or lighting? A BPP cover policy takes care of the replacement costs.

What is covered by business personal property insurance?

BPP insurance covers everything from labor and materials to services. Below is a list of five items that every insurance company should include.

Office supplies

Business personal property insurance covers some of the things you might not expect. Such as pens, staplers and even calculators. The little things small business owners may not think about after a fire. BPP coverage takes care of the stuff on your desk.

Heavy tools

The policy covers large items that small businesses also rely on, such as forklifts and excavators. This insurance protects a construction company against financial damage.


Ensure physical security and protect e-commerce SMEs with BPP insurance. A good insurer covers desktops, laptops, smartphones and tablets.


A business personal property policy even covers the curtains, blinds and rugs. Still wondering how much a business really needs and for what? Keep reading.

Rented personal property

Personal Property Insurance BPP covers equipment such as the leased personal property that you are required to insure. This is different from a homeowners policy.

What is not covered by a business insurance policy?

Likewise, some things are not covered by these insurance products. Keep the following list in mind for business purposes.

This insurance does not include:

General Liability Insurance – There is usually no general liability coverage for basic risks. Like property damage to something that doesn’t belong to you. Commercial Auto Insurance – Collision, Towing, Rental Compensation, and the like. A business personal property policy does not have any of this. Workers Compensation Insurance – Do You Have Employees? This is a requirement in most states. It covers things like work-related injuries and medical bills. And you don’t get that with business personal property insurance.

Remember, a standard homeowners policy won’t work if you work from home. Especially if you want to attract new employees.

How Much Is Business Personal Property Insurance Coverage?

Wondering how much small business insurance costs? These coverages vary and the cost will depend on the services you choose and the size of your business.

It’s so broken.

Know what the company property is worth. Location and age, as well as replacement versus actual cash value, matter for business personal property insurance costs.

The median for commercial property insurance, which is part of a BPP business owner’s policy, is $63 per month. Most small businesses pay between $400 and $800 annually.

How to choose the right property insurance for your business

Getting the right business owner’s policy is about shopping with the right insurance company. Business personal property policies need some extra finesse. Have good personal property insurance with the following.

Here are five tips for getting the right home insurance from the right provider.

Understand the different types. Each insurance company offers different policies. If you’re in business, chances are you don’t need home insurance. But it is important to cover personal property for equipment. Understand the specific risks. Every company is unique. Commercial insurance should cover you for natural disasters if you are in a flood zone. Do not forget aspects such as cover against spoilage. Put good policy above costs. The cost of personal property insurance should not be the deciding factor. Choosing cheap policies to save on premiums can come at a cost in the long run. Understand what affects your rates. Make sure you know what will affect your quote. Your experience and claim history can change the numbers on a commercial real estate quote. Consider the deductibles. The business premises can influence the offer of an insurer. Higher deductibles on things like lost income mean lower premiums. But you do have to pay that when you submit a claim.

How To Get Property Insurance For Your Small Business

Maybe you have a home business, or an e-commerce and/or physical store.

Follow these steps to get a business personal property policy from a credible insurance company.

View the company’s history/reputation

Looking for a non-life insurance company? Start by looking at their experience. Accident insurance and insurance for your property are often bundled.

Look at customer service

Offering business interruption insurance is important. But so is 24/7 customer service. That should include online claim reporting and bill payments.

The best small business insurance companies will also recommend that you overestimate coverage. That’s not necessarily a sales pitch. A lawsuit can really hurt your small business.

Here’s a final tip. Look for additional expense coverage. You may receive compensation while your business is being repaired or relocated. Now you have what you need to look for business personal property insurance.

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This post What is Business Personal Property Insurance? was original published at “https://smallbiztrends.com/2022/04/what-is-business-personal-property-insurance.html”

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