PROPERTY INSURANCE
Property insurance provides coverage for property that is stolen, damaged, or destroyed by a covered peril. The term “property insurance” includes many lines of available insurance.
Commercial Property
Buildings you own or lease as a part of your business, your business personal property, and the personal property of others make up the basic coverage sections of commercial property insurance. This can be sold separately as an Individual Line policy (referred to as a monoline policy), or it can be sold as part of a Commercial Package Policy (CPP), which combines two or more commercial coverage parts such as commercial property, general liability, and commercial auto.
Inland Marine
This is a specialized type of property insurance that primarily covers damage to or destruction of your business property while in transport. Inland marine also covers the liability exposure for the damage or destruction that may occur to property in your care, custody, or control during transport.
This is currently marketed under such names as “systems protector,” “systems breakdown,” and “machinery breakdown” insurance. This covers business property, other property losses, and legal fees (if any) that may result from the malfunction of boilers and machinery.
This provides protection for the assets of your business including merchandise for sale, real property, money and securities.
