Understanding the Standard Property Policy

Typical commercial insurance packages are all-inclusive, helping business owners sleep well knowing their company is protected. However, there are times when commercial buildings don't qualify for package coverage, e.g. building age.

Fortunately, there is an affordable alternative to protect commercial real estate and business property. The Standard Property Policy, also called the building and personal property (BPP), is available to protect your business assets.

The Standard Property Policy

If your business has been told that a commercial insurance package is unavailable, the Standard Property Policy helps fill the void. According to the International Risk Management Institute, Inc. (IRMI), the Standard Property Policy "combines in one form many of the provisions of the common policy conditions, commercial property conditions and personal property coverage . . ."

• Building - Includes additions, indoor and outdoor fixtures, permanently installed machinery and equipment, and personal property used to service the building, including fire extinguishers, floor coverings and outdoor furniture.
• Business personal property - Includes furniture and fixtures, machinery and equipment, inventory, all other personal property owned by and used in the business.

To get more information about this coverage, contact Cook, Disharoon & Greathouse, serving the Bay Area and Oakland, California since 1953. Cook, Disharoon & Greathouse offers a full-service menu of insurance products to protect your home, your business and your family. Take advantage of their experience and call or e-mail them today.