Property & Equipment
Insure the things your operation depends on.
Buildings, contents, mobile tools, equipment and lost income may require different coverage forms.
Match coverage to where property goes
Commercial Property commonly addresses buildings and contents at scheduled locations. Inland Marine or equipment coverage may be needed for tools and machinery that travel to job sites or are stored away from the main premises.
Values matter
Replacement cost, actual cash value, coinsurance, deductibles and valuation methods can materially affect a claim. Business income and extra expense coverage may help after a covered loss interrupts operations, subject to waiting periods and policy terms.
Property details drive both eligibility and valuation
Carriers commonly ask for construction, occupancy, protection class, roof age, electrical or plumbing updates, square footage, neighboring occupancies and prior losses. Coastal wind, wildfire, hail, freeze and flood exposures vary by location and may require separate deductibles or policies.
Business personal property
Inventory, furniture, tenant improvements, computers, stock and machinery may need different limits. Peak seasons, property of others and goods in transit can create values beyond an ordinary contents estimate.
Equipment breakdown and spoilage
Mechanical or electrical breakdown can damage equipment and interrupt production even when there is no fire or wind loss. Depending on the operation, equipment breakdown, utility interruption or spoilage coverage may deserve consideration.
Business income worksheet
Business income coverage is not simply the building limit. Estimate continuing expenses, projected earnings, the time required to repair or relocate, supply-chain dependencies and any extended restoration period.
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