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Property

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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.

© Tom Brown & Company, Inc. 2012