A business owners policy coverage guide by floyd arthur http://carmoongroup.com What Does Business Owner’s Policy Coverage Include? A business owner’s policy typically includes: • Property insurance, which covers buildings and any contents, such as office equipment and furnishings. This coverage applies to property owned by the business, personal property of the business owner, and property that belongs to others that was left in the care of the business (for example, a computer left for repair).There are two forms of coverage: standard, which covers perils such as fire, wind and theft, and special, which covers all risks, except those that the policy specifically excludes, such as earthquakes or floods. Many standard policies also cover incidental damages, such as fire department service charges, debris removal, removal of pollutants and damage caused by water used to extinguish a fire. • Liability insurance, which covers the business in the event that you or your employee causes harm to others or their property. This typically includes coverage for defective products and services as well as medical payments and other damages resulting from bodily injuries to others that occur on your property. Most policies also cover advertising injury and personal injury, such as slander, libel and intentional infliction of emotional distress, as well as litigation costs and court-awarded damages. • Business interruption insurance, which covers your lost income in the event your business is forced to shut down due to a fire or other catastrophe. Some policies also cover the cost of doing business at a temporary location, including payroll and operating expenses. For an additional premium, you may be able to add additional coverages, such as coverage for personal property kept off the premises, valuable papers and records, and property stored outdoors. Some insurers also offer additions that cover losses due to the mechanical breakdown of equipment and broken glass or sign repair. Floyd Arthur http://floydarthur.info