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Business and Personal Property Coverage Form Definition & Overview

Updated: November 25, 2022

You can take out an insurance policy for a wide range of circumstances. For example, you can take out auto insurance for your vehicle, home insurance, life insurance, and health insurance. There is also a broad range of business insurance policies that can help protect your business should anything happen. 

One of the most comprehensive options is business and personal property coverage. Read on to learn everything you need to know about how it works.

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    KEY TAKEAWAYS

    • A BPPCF is an important aspect of commercial insurance.
    • It protects against accidental damage to outdoor property. This includes buildings, contents, stock, and equipment.
    • Each business owner should consider their coverage needs and buy insurance that meets those needs.

    What Is a Business and Personal Property Coverage Form?

    The BPPCF, or business and personal property coverage form, is an important aspect of commercial insurance. It protects against accidental damage to buildings and business personal property. Also protected is non-owned business personal property.

    Most BPPCFs insure against all types of peril, making them a comprehensive coverage option. However, it’s important to check the exclusions on a BPPCF to make sure that you cover your specific needs. By understanding the coverage provided by a BPPCF, you can be sure that your business has protection in the event of accidental damage.

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    How Does a BPPCF Work?

    A BPPCF commercial insurance policy insures against accidental damage. This includes owned buildings, owned business personal property, and non-owned business personal property.

    The BPPCF usually covers all perils except those excluded by special causes. For example, a typical BPPCF would cover fire, wind, hail, theft, and vandalism. But there are coverage limits. For example, it would not cover damages from floods, earthquakes, or war.

    In addition to insuring against physical damage, the BPPCF also provides coverage for loss of business income. This coverage is important. It helps businesses to stay afloat in the event that they have to close due to damage caused by a covered peril. Without this coverage, many businesses would have no choice but to close their doors permanently.

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    Summary

    A BPPCF is a commercial insurance policy. It insures against accidental damage to owned buildings. The BPPCF covers direct physical loss or damage, as well as indirect losses, such as lost rent or business interruption.

    This type of policy is often used by businesses with large amounts of valuable property. You’ll want to consider this coverage if you’re in the construction industry or a similar field.

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    Business and Personal Property Coverage FAQs

    What is the standard coinsurance provision under a BPPCF?

    Most firms get a liability limit of 80% on their coinsurance provisions.

    What is business personal property in insurance?

    This is a form of coverage that protects the property in question against theft, loss, or damage to business property.

    What's included in personal property in homeowners insurance?

    This often protects furniture, sporting goods, clothing, or electronics. If you need to protect your personal effects, you’ll want to look into other liability insurance.

    What is covered under a building and personal property coverage form?

    This form covers physical damages to commercial properties.

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