 |
|
Property Insurance
Property insurance pays for losses and damages to real or personal property. For example, a property insurance policy would cover fire damage to your office space. You can also purchase additional coverages for business property, including:
Boiler and Machinery Insurance: Boiler and machinery insurance, sometimes referred to as "equipment breakdown" or "mechanical breakdown coverage," provides coverage for the accidental breakdown of boilers, machinery, and equipment. This type of coverage usually will reimburse you for property damage and business interruption losses. For example, this coverage would cover fire damage to computers.
Debris Removal Insurance: Debris removal insurance covers the cost of removing debris after a fire, flood, windstorm, etc. For example, if a fire burns your building to the ground, the remains of the old building have to be removed before you can start rebuilding. Your property insurance will cover the costs of rebuilding, but not of removing the debris. |
|
|
