Call Us 636.519.0059 ☰ ˟
636.519.0059
Logo
  • Home
  • Get A Quote
    • Automobile
    • Bonds
    • Business & CommercialImage of right arrow
      • Commercial Auto Insurance Quote
      • General Liability Quote Form
      • Business Owners (BOP) Quote Form
      • Builders Risk
      • Liquor Liability Quote Form
      • Workers Compensation Quote
      • Errors and Omissions
    • General Liability Insurance
    • Health
    • Homeowners
    • Life
    • Other
    • Renters
    • Watercraft & Boat
  • Customer Service
    • AutomobileImage of right arrow
      • Request Auto Insurance Id Card
      • Add new Auto to Policy
    • Business & CommercialImage of right arrow
      • Add Vehicle to Existing Commercial Auto Policy
      • Certificate of Insurance Request
      • Auto Id Card Request
    • Homeowners
  • Claims
    • Automobile
    • Business & CommercialImage of right arrow
      • Workers' Compensation Claim Report
      • Property Loss Notice (Commercial)
      • General Liability Claim Notice
    • Homeowners
  • Blog
  • Resources
    • Secure File Area
    • Refer a Friend
    • Important Files
    • Free Reports
    • Insurance Glossary
    • News Center
  • About Us
    • About Hebbeln Insurance
    • Location Map
    • Customer Testimonials
    • Privacy Policy
  • Contact
    • Contact Us
Home > Blog > Business Personal Property - What To Consider:
TUESDAY, AUGUST 16, 2016

Business Personal Property - What To Consider:



It can be easy for Business Owners to underestimate the value of their Business Personal Property (BPP).  

The “eye test” will reveal  mainly what is required to operate your business

·       Furniture/Cubicles

·       Inventory

·       Computers/Printers

·       Phones/Fax

·       Copiers

·       File Cabinets

 

Outside of the items above,  let’s venture a guess what other property a Business Owner that rents their office space may be responsible to Insure.  To determine, it is necessary to review their lease ageement.

 

Let’s say the owner requires alterations or improvements and betterments (I&Bs) to their space in order for them to operate (this is very common for Restaurant Owners).  Or, maybe the space is already ready to go because the I&Bs required have already been completed by the prior tenant.

 

Who has the duty to Insure these improvements should be defined in the lease agreement.  If it is the Business Owner’s, the value of the I&Bs should be considered when determining their Business Personal Property limit.  The cost and corresponding value of improvements and alterations to leased space can be significant. 

 

Another easily overlooked item is Heating and Cooling equipment.  Often lease agreements will shift this responsibility to the tenant.

 

Not only is it  important to determine an appropriate limit to make certain you are adequately insured, but also to make certain you are not subject to a costly coinsurance penalty.

 

If I’ve piqued your interest, or you need a sleep aid, here’s a Post on Coinsurance: Don’t get blindsided by a coinsurance penalty 

 

This developed into a fairly useful post – some  of your LinkedIn followers may be quite appreciative of a “share” (see share button below), but not as appreciative as I for your kindly share!



posted by dan@hebbeln-ins.com

Posted 10:11 PM

Tags: business owners insurance
Share |


1 Comments

Mike Miller said...
Keep up the great work! Thank you so much for sharing a great posts.

THURSDAY, AUGUST 27 2020 10:26 PM

Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014

  • loss control(32)
  • win stuff!!(24)
  • homeowners(22)
  • business owners insurance(22)
  • general nonsense(19)
  • auto insurance(16)
  • work comp(14)
  • stocks(8)
  • epli(6)
  • data breach(3)
  • income protection(2)
  • umbrella(2)
  • errors and omissions(2)
  • bonds(2)
  • general liability(1)
  • rants about steve!(1)
  • flood(1)

View Mobile Version
Logo
Quick Links
Home Our Products Customer Service Payment/Claim Options Report a Claim
About Us Refer A Friend Our Carriers Blog Contact Us
Location
744 Spirit of St Louis Blvd
Suite H
Chesterfield, MO 63005

Phone: 636.519.0059
E: service@hebbeln-ins.com
Social      

 

 

 

 

 
© Copyright. All rights reserved.
Powered by Insurance Website Builder