What is Business Personal Property (BPP) insurance?

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BPP insurance is an addition to your policy and covers all equipment, supplies, and contents used in your business. It covers your property both on and off premises. Do I need to give you a list itemizing equipment values? No. Both your current property and newly acquired property are automatically covered up to the limit you select--either $10,000 or $25,000. What type of coverage am I buying? Your property is insured for replacement cost; your claim will be paid based on the cost of new equipment, with no deduction for depreciation. Is there a deductible? All losses are subject to a deductible; $500 for theft-related claims; $250 for all other related claims. What is not covered by this plan? Coverage is written on a broad basis with few exclusions.* Some of the exclusions include governmental action, nuclear hazard, war and military action, unexplained disappearance or shortage found during inventory, unsecured office, currency or checks, dishonest acts, short circuit or other ... more
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