What additional coverages are included in my Business Owners Policy (BOP)?
The following are examples of the additional coverages that are frequently included at no further cost:
Replaces amounts due to you that cannot be collected because your accounts receivable records were lost or damaged during a covered event.
Covers incidental structures located on the same premises as the main building such as storage buildings, carports, or garages.
Business Income and Extra Expense
Covers the loss of net income as a result of damage or loss of business property. Reimbursement for salaries, taxes, rents, and other expenses incurred during the period of interruption is typically included.
Damage to Premises Rented to You
Insures damage to property you rent if your business is responsible for damages.
Covers the cost to replace or restore data that’s been destroyed or damaged by a covered loss.
Covers loss resulting from dishonest or fraudulent acts of your business' employee(s), including theft of your property.
Fire Department Service Charge
Pays for charges from a fire department for their response to save or protect your business from a covered cause of loss at your business.
Fire Extinguisher Systems Recharge Expense
Pays to have your fire extinguisher recharged or replaced after being discharged, except during installation or testing.
Forgery or Alteration
Covers loss resulting from the forgery of payment issued by your business, someone on behalf of your business, or by someone impersonating you or someone from your business.
Interruption of Computer Operations
Covers lost income and extra expenses sustained in a suspension of operations due to destruction or corruption of electronic data by a covered cause of loss.
Covers property outside your building (e.g. trees, shrubs or plants, signs - though not attached signs) for losses due to fire, lightning, explosion, riot or civil commotion, or aircraft (but not theft).
Preservation of Property
Covers loss or damage to your property if it must be moved in order to preserve it. Coverage is provided while the property is in transit and at the new location for up to 30 days after the move begins.
Valuable Papers and Records
Covers the cost to research, replace, or restore lost information on valuable papers and records (e.g. documents, manuscripts, books, deeds, drawings, or mortgages).