A business owner’s policy is two types of coverage in one. The first part of the policy is asset coverage. The asset portion of the policy usually protects business personal property such as tables, chairs, fax machines, computers, software, plotter, and printers.
The second part of the BOP(balance of payment) is called general liability. It provides coverage for bodily injury and property damage in the office or at a place of work, such as off-campus. For more information about real estate insurance visit http://keystrokeins.com/underwriting/errors-omissions/marketing/
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Also included under the liability insurance is a medical, product and completed operations, personal and advertising injury. Non-owned and rented auto liability coverage can also be provided for a rented or borrowed auto. They may provide additional coverage on an employee’s auto coverage when using their car for business purposes.
There are many coverages that have been provided under a business owner’s policy designed for the general liability insured.
Valuable Paper Coverage: The limit is usually around $ 100,000, but can be increased. This coverage protects the value of the insured time. It covers the cost to recreate architectural and engineering drawings, sketches, eyeglasses, and blueprints if they are destroyed or damaged by causing damage. Earthquakes and floods are covered most of the time.
Contractor’s equipment: Engineers and surveyors have lots of equipment. Along with the cost of GPS equipment and survey equipment, it is important to have these items scheduled for your business owner’s policy. Some carriers provide replacement cost coverage regardless of age. Coverage also includes data that is stored on devices.