Why do I need Property insurance?

Business Property Insurance Below are just a few of the important ways business property coverage can help you in the event of a loss. (Some coverages may not be available on all policies or in all states)

• Business Income. Reimburses you for your actual loss of earnings for up to 12 months resulting from a covered loss to your property. Extra expenses needed to continue operations.
• Computers & Media. Provides coverage for your computers, peripheral devices and media. Coverage is also provided for the costs to research, replace or repair lost or damaged data and software as a result of covered damage to computer equipment, certain power failures, or a computer virus. Business Income Coverage, if purchased, also applies to computer equipment, data and software.
• Business Personal Property Insurance (Contents) provides coverage for furniture, fixtures, merchandise, materials, and all other personal property owned by you and used in your business. Coverage is at replacement cost.
• Property of Others. Protects you against loss or damage to the property of others that is in your possession at a job site or on your premises. This coverage would respond to claims for accidental damage to customer equipment in your care, custody or control. If you are involved in computer installation, system integration, or network maintenance this coverage can be essential.
• Laptop. Up to $10,000 for laptop, palmtop and similar portable computer equipment anywhere in the world, including while in transit. (Not covered if checked as baggage)
• Equipment Breakdown. Covers the cost to repair or replace equipment, such as computers, air conditioners, phone systems and steam boilers, following a loss or damage caused by mechanical breakdown or artificially generated electrical current.
• Lock and Key Replacement. Pays for rekeying of locks, up to a specified limit, at your business premises following the theft of your keys by a burglar.
• Money and Securities. Protects money and securities used in your business if they are stolen, destroyed or lost.

Note: This summary outlines in general terms the coverages afforded under some policies. Examine the policy carefully for any exclusions, limitations, or any other terms or conditions that may specifically affect coverage. The terms and conditions of the policy prevail.