Understanding Business Personal Property Insurance

There are more than 50,000 employer establishments in Palm Beach County. While these businesses can represent major sources of revenue for their owners, they are also at risk for all kinds of property damage: weather events, fire, theft, water damage and more.

If you own a business in the area, it is a good idea to speak with a public adjuster in West Palm Beach. We can help you understand what coverage you have and help you file an insurance claim. Many business owners have business personal property insurance, which provides essential coverage.

What Is Business Personal Property Insurance Designed to Cover? 
Business personal property (BPP) coverage is part of a broader commercial property insurance policy. 

While the broader commercial policy is likely to provide coverage for the building if you own it, BPP specifically is designed to encompass the items that are not a part of the building.  

This can include: 

• Electronics 
• Equipment 
• Furniture 
• Machinery 
• Office supplies 

• Personal property owned and used by the business 
• Leased personal property 
• Retail inventory 

​While BPP does not provide coverage for the building, it will likely provide coverage for improvements you have made to the building. 

It is designed to protect against several different kinds of property damage like water, fire storms, theft, and vandalism damages. As always, policy coverage varies from policy to policy and we will review your policy to determine and help you understand your coverages. 

Does Business Personal Property Insurance Cover Office Equipment in My Home? 
Business personal property coverage can include office equipment if you have a home-based business. If you own a home-based business, it is important to review your homeowners insurance policy because it may not provide the coverage you need. 

Depending on the size of your home-based business, you may need to supplement your homeowners insurance policy with increased business property limits, an in-home business policy, or business personal property insurance.
 
Business personal property insurance is also tax-deductible, which makes it a great choice for all kinds of businesses. 

Does BPP Cover Other People’s Personal Property? 
There may be situations where another person’s property is put under your care, control, or custody. While BPP will not provide coverage, the broader commercial property insurance policy will. 

What If Your Insurance Company Disagrees Regarding Your BPP Coverage? 
If your insurance company denies your claim, there are still options to receive a claim settlement. The earlier you choose to work with a public adjuster, the better. We thoroughly document your claim, and assist with making sure all of your post loss policy obligations are met.  

Additionally, we can provide a pre-loss inspection report before damage even occurs and prove the condition of your property prior to any loss. I cannot stress enough how our clients who sustained flood and wind damage from Hurricane Ian wished they had done this as we sift through all the damage and try to document their damaged business personal property. 

Are You Looking for a Public Adjuster in West Palm Beach? 
You have come to the right place. We are experienced public adjusters and are dedicated to helping homeowners and business owners get the settlement you deserve. 
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If you have any questions or would like to speak with us, contact us today. We are always happy to help.