What is Business Personal Property Insurance?

This type of insurance covers the inventory you rent and the things you have to generate business income. Think of mobile items such as accessories, equipment, furniture, and office supplies.

Get coverage for accidental spillage of coffee on a computer and / or damage from a pipe or fire.

This is important coverage for your business property.

What is property insurance for a business?

Personal property (BPP) is defined as the inventory that you can move that your company owns. A business owner policy (BOP) is an umbrella coverage that includes insurance for your property. These usually cover permanent structures and fittings.

BPP insurance covers everything else. What would happen if you grabbed the building and shook it? These items are also called tangible personal property. When you start researching, you will see that there are different types of business insurance.

Why You Should Have Personal Business Property Coverage (PPP)

Small business owners can use this type of insurance coverage. Check out these business insurance benefits.

Here are five other reasons why these BPP policies help. Remember that little or no coverage leaves you open to lawsuits.

  • Protect your inventory – Financial losses arising from things like sprinkler leaks or fire damage are covered.
  • cover furniture – Meeting room tables, furniture, and other furniture important to your business can be replaced. Even if you move to a different place. Get policies that include important inventory items such as scissors and electronics.
  • Equipment and machinery included – Don’t let computer failures cost you time and money in your business. Especially when water damage is to blame.
  • Also some improvements – Have you made improvements to a rented space as a tenant? A BPP policy covers the repair or replacement of property when there have been acts of vandalism or an explosion.
  • These covers protect you from updates: Have you made permanent reforms to a company? Like built-in closets and / or custom lighting? A BPP coverage policy will cover the cost of replacement.

What does the company’s personal property insurance cover?

BPP insurance will cover everything from labor and materials to services. The following is a list of five items that any insurance company should include.

Office supplies

Personal property insurance covers some of the things you might not expect. Like pens, staplers and even calculators. Small items that small business owners may not think of after a fire. BPP coverage takes care of your desktop stuff.

Heavy equipment

Policies include large items that small businesses also rely on, such as forklifts and excavators. This insurance protects a construction business from financial losses.


Be sure to brick and mortar and protect e-commerce SMEs with BPP insurance. A good insurance company covers desktops, laptops, smartphones and tablets.


A company-owned personal policy even covers curtains, blinds, and carpets. Still wondering how much a company really needs and why? Keep reading.

Leased Movable Property

BPP personal property insurance covers equipment such as rented personal property that you have contracted to insure. This is different from a homeowners policy.

What is not covered by business property insurance?

Similarly, some things are not covered by these insurance products. Please note the following list 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 Car Insurance – Collisions, towing, rental refund and the like. A personal business ownership policy will have none of this.
  • Workers’ Compensation Insurance – Do you have employees? This is a requirement in most states. It covers items such as work-related injuries and medical bills. And you won’t get it with personal property insurance from the company.

Remember that a standard homeowners policy will not work if you work from home. Especially if you want to hire new employees.

How much does the company’s personal property insurance cost?

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

It breaks like that.

  • Know the value of business ownership.
  • Location and age, as well as replacement versus actual cash value are important for the costs of personal business insurance.

The average commercial property insurance policy that is part of a BPP business owner’s policy is $ 63 per month. Most small businesses pay between $ 400 and $ 800 a year.

How To Choose The Right Property Insurance For Your Business

Obtaining the right business owner policy is to buy with the right insurance company. The company’s personal property policies need a little more delicacy. Get good personal property insurance coverage with the following.

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

  1. Understand the different types. Any insurance company offers different policies. If you’re in business, chances are you don’t need homeowners insurance. But it is important to get personal property coverage for the equipment.
  2. Understand the specific risks. Every business is unique. A commercial insurance policy should cover you for natural disasters if you are in a flooded area. Don’t forget things like coverage for damage.
  3. Put good policies ahead of cost. The cost of personal property insurance should not be the deciding factor. Choosing cheap policies to save on premiums can be costly in the long run.
  4. Understand what affects your rates. Make sure you know what will affect your budget. Your experience and claims history may change the numbers of a commercial property listing.
  5. Consider deductibles. Commercial premises may affect what an insurance provider offers. Higher deductibles on things like loss of income mean lower premiums. But you will have to pay them when you make a claim.

How To Get Property Insurance For Your Small Business

Maybe you’re a home business, or an e-commerce store and / or a brick-and-mortar store.

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

Look at the history / reputation of the company

Are you looking for a claims insurance company? Start by looking at your experience. Claims insurance and property insurance are often grouped together.

Look at customer service

It is important to offer business interruption insurance. But so is customer service 24 hours a day. This should include reports of online claims and bill payments.

The best small business insurance companies will also suggest overestimating your coverage. This is not necessarily a selling point. A lawsuit can really hurt your small business.

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

Image: Depositphotos

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