Property
Property – insures the real property, such as the building that you own and business personal property such as desks, chairs, computers,etc. from a variety of exposures such as fire, theft, vandalism, etc.
Also under the Property insurance, are coverages known as Business Income or Business Interruption and Extra Expense.
• Business Income – this coverage pays a business for its normal, continuing operating expenses in the event of a covered loss which caused the business to close temporarily.
• For example, salaries, mortgage or rent payments, business loans, insurance premiums.
•Extra Expense – this pays the extra expenses of renting a new location, renting equipment, furniture, etc for use at the temporary location until your office is available, provided that the loss was a covered loss.
Also under the Property insurance, are coverages known as Business Income or Business Interruption and Extra Expense.
• Business Income – this coverage pays a business for its normal, continuing operating expenses in the event of a covered loss which caused the business to close temporarily.
• For example, salaries, mortgage or rent payments, business loans, insurance premiums.
•Extra Expense – this pays the extra expenses of renting a new location, renting equipment, furniture, etc for use at the temporary location until your office is available, provided that the loss was a covered loss.