Paige Cerulli Last Updated On: July 18, 2024

Business Personal Property Insurance (BPP)

Business personal property insurance, also known as BPP insurance, can help protect the property and equipment you use at your company. This type of coverage is often included in your business property insurance, and it’s essential in fully protecting your business.

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What is BPP Insurance?

BPP insurance coverage helps to pay for the cost of repairing or replacing your business personal property, which may include:

  • Inventory
  • Property located at your place of business
  • Furniture, like desks and chairs
  • Computers that you use for your business
  • Tools and equipment used in operating your business
  • Improvements that you’ve made to your leased place of business

What Does BPP Insurance Cover?

BPP policies insure your business’s personal property in case of certain types of incidents, like fire, lightning, explosions, smoke, vandalism, theft, sprinkler leakage, and more. Only some policies cover losses caused by incidents like water damage, collapse, snow or ice weight, or structural collapse.

You will need to carefully review your business personal property insurance coverage to understand what is included and excluded.

Do You Need BPP Insurance?

BPP insurance is essential in helping you protect the property that your business owns or rents. This coverage can help your business recover more quickly and easily from a loss. Suppose your business experiences an event like a fire and you don’t have insurance coverage. The loss can be financially devastating and may shut down your business until you’re able to purchase new equipment. In addition to the cost of your property, you could lose income until you can get your business running again.

Small business owners with brick-and-mortar stores, studios, offices, or restaurants should all buy BPP coverage. If you have a home business, your homeowners insurance may include some coverage to replace personal belongings after a loss. Still, it won’t protect your business equipment, like your computer or files. A business personal property insurance policy is a worthwhile investment in protecting your business.

How Much BPP Coverage Do You Need?

When you shop for business personal property coverage, you’ll need to decide on the amount of coverage you want for your business. A general rule of thumb is to choose a policy limit that will cover at least 80% of the value of any property you want to insure. You can select a lower limit, but your insurance policy will only pay out to your maximum policy limit. You would be personally responsible for paying any remaining costs to replace your property.

The cost of your insurance policy will depend on your business industry, the value of your property, and your desired coverage limits.

How Can You Get BPP Insurance?

Your business owner’s policy will include BPP insurance coverage, and you will be able to customize the limits to your needs. You can get a free business property insurance quote today and start shopping for the right insurance for your business today.


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