Insurance that covers a property owner for a loss on “real” property (i.e. buildings & structures) or “business personal property” (i.e. computers, furniture, etc.) from a covered peril, such as fire, wind/hail, or theft. Property Insurance can also cover equipment used in the field (inland marine) and even equipment breakdown (boiler and machinery).

There can be several other coverage categories under the property policy, to include:


Valuable Papers/Media

A property policy can cover valuable papers as a part of business contents. For example, a water main breaks overnight and floods the office, damaging drawings and specifications that had been printed and assembled for a bid proposal. The policy would cover the cost of replacing those drawings and specifications.

Accounts Receivable

This coverage helps protect businesses from outstanding money owed to them by customers because of damage to accounts receivable records by a “covered peril,” such as fire.”

Other Covered Property

Depending on the policy, there can be limited coverage for trees, shrubs and plants, money and securities, signs, and other types of property. It is important to read the policy to become familiar with the types of property covered and the coverage limits. If you are unsure what you need, you can just pick-up the phone and contact us to discuss any aspect of your policy.

On-Premises Business Property

This coverage refers to the replacement of business property such as computers, servers, telephone systems, furniture, fixtures and other items.

Off-Premises Business Property

Many firms have employees that work full or part-time from their home. This coverage provision provides limited coverage for business property used by employees at other locations. This can include cell phones and laptops, however, depending upon the value of off-premises property, a separate Inland Marine policy may be required to fully cover a potential loss.

What about property loss or damage due to a computer virus?

Loss or damage to property due to a computer virus is usually not covered under the property policy. A separate Cyber Liability & Network Security policy is usually required for this type of coverage.

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