Professional Liability

Expert Witness

Business Property

Antiques

Boiler& Machinery

Builders Risk

Building Ordinance

Bus. Interruption

Crime

Debris Removal

Bonds

Glass

Inland Marine

Loss of Lease

Workers' Comp.

Group Health

Life

Commercial Vehicles

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Professional Liability

Insurance for professionals such as doctors, lawyers and consultants * that covers errors and omissions.

*Please refer to our Expert Witness Program .

Business Property Insurance

What types of property does business insurance cover?

Your business may not possess all the following types of property, but you can use:

• Buildings and other structures (owned or leased)
• Furniture, equipment and supplies
• Inventory
• Money and securities
• Records of accounts
• Improvements and betterments you made to the premises
• Machinery
• Boilers
• Data processing equipment and media (including computers)
• Valuable papers, books and documents
• Mobile property such as automobiles, trucks and construction equipment
• Satellite dishes
• Signs, fences and other outdoor property not attached to a building
• Intangible property (good will, trademarks, etc.)
• Leased equipment

To establish the amount of insurance you need on each, your insurance agent can help you review the types of property you own and their uses. Some of these items are covered in the basic policies, others can be added by an endorsement, or rider. And some, link money and securities may not be covered by a standard commercial policy and may require a second, separate policy.

What business property should be covered?

The best thing to do is to take a complete inventory of all your business property, determine their value, consider your current and future business situation and decide if each is worth insuring. Then check the basic business property policy to see if the items is covered and that it is covered for the correct amount. If not, ask about purchasing additional coverage to meet your needs.

Common additions to business property coverage.

The most common additional coverages include:

Boiler and Machinery Insurance Even if you do not own a boiler you may need this coverage. The term "boiler and machinery insurance" is gradually being replaced with terms such as "equipment breakdown" or "mechanical breakdown" coverage. This insurance provides coverage against the sudden and accidental breakdown of boilers, machinery or equipment including computer systems and telephones/communication systems. Coverage usually includes reimbursement for property damage, expediting expenses (e.g., express transportation charges), and business interruption losses.

Builders Risk Coverage: Covers building in the course of construction. Depending on the policy, this coverage can be for either the building's value at the time of loss or its full value at the time of completion.

Building Ordinance Coverage: Provides coverage when a community has a building ordinance stating that when a building is damaged to a specified extent (usually 50 percent), it must be completely demolished and rebuilt in accordance with current building codes rather than repaired.

Business Interruption Insurance: Covers the loss of earnings as a result of damage or loss of business property. Reimbursement for salaries, taxes, rents and other expenses plus net profits that would have been earned during the period of interruption can be included.

Commercial Crime Coverages: covers money and securities, stock and fixtures against theft, burglary and robbery both on and off the insured premises and from both employees and outsiders.

Debris Removal Coverage: Covers the cost of removing debris after damage from fire of other covered peril that requires debris removal before reconstruction of the damaged building can begin. This is not part of fire insurance coverage and must be added as an endorsement.

Fidelity Bonds: covers business owners for losses due to dishonest acts by their employees.

Glass Coverage: Provides coverage for glass breakage such as store windows and plate glass on office fronts.

Inland Marine Insurance: Primarily covers property in transit such as from warehouse to warehouse or warehouse to retail store, as well as other people's property left on your business premises, such as clothes left at a dry cleaning business or an employee's personal effects left in the company locker room.

Insurance for Loss of Lease Income or Value: Covers the loss of income when rental property is damaged or destroyed and the loss of value when the owner of the rental property also used some of its space for business. If the tenant of the destroyed or damaged building is forced to rent space elsewhere at a higher cost, this is called loss of lease value.

Commercial Vehicles

Coverage for vehicles registered in a commercial business name.

Worker's Compensation

Coverage for companies that hire and maintain more than one employee.

Group Health, Life Insurance

Crowl offers a variety of plans for group health and life coverage.