General Liability - Mandatory in most states, general liability provides protection in the event you are sued for bodily injury or property damage.

Building Coverage – In the event of a covered loss building coverage will pay up to the limits of the policy to repair/rebuild your building. Keep in mind, the value of the building is based on the current cost associated with building, such as labor, lumber and other supplies. These costs will vary from county to county and state to state. The building limit will be different from the market value, again b because it is based on current costs to rebuild that space, not the current status of the real estate market.

Ordinance or Law – If your building was build 10 + years ago, there is a good chance that new ordinance and laws have been put in place to protect the environment or improve building standards, the additional cost of complying with these new ordinance and laws is not included in the building limit and would be considered an out of pocket expense.

Business Personal Property – So if you picked up your business and shook it upside down, everything that falls out, the computers, equipment, inventory would be considered Business Personal Property, and will only be covered if you have BPP coverage. Again, its about protecting your investment, your equipment is part of your assets, your net worth.

Business Income – So the power went out last night, when it came back online a power spike started an electrical fire in your space, it will take months to repair/rebuild, don’t’ worry, Business Income can provide supplemental payments to replace the rental income the business would have generated if it had not experienced the loss. Business Income allows you to continue to pay your monthly expenses until you are back up and running or reach the policy limits.

Sewer Backup – For some reason your sewer lines backed up and now the space is flooded. The cost for clean up and repairs is not covered under any other property coverage. If you do not have Sewer Backup you would be responsible for all costs associated with loss.

Cyber Liability – Data, its all about the data, hackers want your data, your employee’s information, your clients details and your vendors account numbers. They will steal it or lock it down for ramson, either way you have a big problem. By law you are responsible to notify individuals whose data may have been compromised. Under current law the company or organization that is storing the data is responsible for the data breaches and will pay any fines or fees that are the result of legal action.

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