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Business Personal Property Insurance

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What is Business Personal Property Insurance?

Business Personal Property (BPP) coverage is the most basic property coverage offered for businesses and organizations. Similar to Personal Property coverage in a Homeowner's policy, Business Personal Property covers nearly all items of value that aren't considered a structure, fixture, automobile, watercraft, or aircraft. This would include items such as desks, chairs, tools, equipment, appliances, furniture, etc.

Who needs business personal property insurance?

  • Anyone who rents a physical space

  • Has any business equipment such as computers, printers and furniture

  • May be required by your landlord to business interruption coverage (usually required in all lease/rental contracts)

  • Has a lot of data stored

There are many ways to broaden the coverage provided by BPP coverage. Below are some of the most common coverages that are similar and/or intertwined with BPP:

  • Electronic Data Processing (EDP): This coverage would insure computers and other electronic devices that transmit and process data. Depending on the language used in the policy, these items might not be covered or might be subject to a sub-limit.

  • Inland Marine: BPP coverage only applies for the locations listed on the policy. To have coverage for BPP items when they're away from the insured locations, an Inland Marine policy would be required. Many different versions of Inland Marine exist, and they are used to provide specialized coverage.

  • Tenant's Improvements & Betterments: When a business rents the space they use, discrepancies might occur when determining if items are part of the structure or part of the tenant's BPP. This endorsement clarifies which items are covered by BPP.

  • Stock: Stock, as in inventory or wares held for sale, is not normally covered by BPP. However, endorsements are available to add coverage for stock. Most commonly, the stock would be added to the overall BPP limit. 

Whats Covered?

  • Physical property owned by the business, such as office equipment

  • Electronic data processing

  • Tenant improvements and betterments

  • Loss of rent to building owner (must purchase a business interruption endorsement)

Whats Not Covered?

  • Fraud

  • Employees injured on the job

  • Property not listed

  • Bodily injury and property damage

  • Failure to protect sensitive information

  • Employment practices liability

  • Dishonest acts

We’re here to help you find and purchase the best Business Personal Property Insurance policy for your business!

Need more information, no problem, just give us a call (949) 359-1380, a licensed professional will be more than happy to answer all your questions.

Check out others coverages available to you and your business:

Professional Liability

General Liability

Workers' Comp

D&O Insurance

Cyber Liability

Have a dedicated Peloton Insurance Broker review your current plan and work with you to devise the right coverage to meet your growing needs and mitigate risks to your business.

Just give us a call (949) 359-1380, a licensed professional will be more than happy to answer all your questions.

MAILING ADDRESS

30100 Town Center Dr,

Ste O-317

Laguna Niguel, CA 92677

T. (949) 359-1380

F. (949) 270-3704

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