An insurance policy for businesses and other organizations that insures against damage to their buildings, equipment, inventory and more due to a covered cause of loss, such as a fire, vandalism, break-in wind and other manmade or natural disasters. The policy may also cover loss of income or increase in expenses that results from the property damage.
Business Personal Property Coverage
Covers property at a specified location such as equipment, furniture, fixtures and inventory. Commercial property policies have limited coverage for property taken off the specified location. For equipment that is frequently taken off-site to various locations, it is important that you have an inland marine policy.
Commercial property policies exclude flood, a separate policy must be purchased to protect you from resulting damage.
Electronic Data Processing (EDP) Insurance
Coverage to protect your computer related equipment is provided by Electronic Data Processing policy. EDP covers computer networks including power surges and virus attacks.