What is Business Personal Property Hazard Insurance

Business personal property or BPP is in reference to the items that are owned by your company such as furniture, computers, office supplies, machinery and pretty much everything minus the structure of the building. 

What is business personal property?

Business personal property is also referred to as business contents. It basically refers to everything from pencils to manufacturing equipment. Most business personal property is tax deductible. 

Business personal property can include but is not limited to:

• Office supplies: pens, staplers, and calculators
• Furniture: chairs, desks, and tables
• Furnishings: rugs, blinds, and curtains
• Computers: desktops and laptops
• Electronics: smartphones and tablets
• Heavy equipment: forklifts and excavators
• Machinery: 3D printers
• Any other movable items used by your business

Commercial Insurance: Business Personal Property Insurance 

Having an adequate amount of business personal property insurance may be a better route than increasing commercial property insurance due to cost. This is a question you will want to ask your agent. There is always the off chance that you may not have enough commercial property insurance to cover the contents of your business. 

When you buy commercial property insurance you may want to check with one of our agents to ensure you get the amount of coverage you need. Your business personal property should always be within your company walls to ensure that you will be covered under your commercial property insurance policy. 

What is the difference between tangible and intangible personal property?

The two forms of personal property are tangible and intangible:

• Tangible is in reference to the physical items that can be touched such as furniture, computers, machinery and more. 
• Intangible property are the items that can not be touched such as bonds, securities, patents, and intellectual property. 

For a business personal property estimate typically your company will only need tangible property. If your business has intangible items you want to protect then you will want to ask one of our agents about insurance that can cover them. 

What is the difference between actual cash value and replacement value?

When you purchase business personal property insurance you will have to choose between insuring items as actual cash value or replacement value.

• Actual cash value refers to a personal items current market value, but with depreciation taken into account
• Replacement value refers to the cost of buying a brand-new replacement of a damaged or lost item. Usually replacement value policies have higher rates

Business Personal Property Hazard Insurance Quote 

If you’re looking for a great rate and an amazing policy the best way to find it is by speaking to an independent agent like Eugene C Yates Insurance Agency. Our agents have access to the top business personal property insurance companies in the industry and they have firsthand knowledge of the best discounts available. 

If you would like a free custom commercial insurance quote, please feel free to get in contact with us today at 916 313 6100