Business personal property includes the equipment, furniture, inventory, and goods used at your business, as well as, any improvements and enhancements made to your business space, and any business equipment you may have leased. We suggest selecting a business personal property limit that is 80% or more of the current replacement cost of all the property in your business.
This can be the items you sell, the perishable goods you use, down to the reams of toilet paper and cleaning supplies stored in the backroom. Any materials or supplies, used to operate your business, at risk for fire and theft, will likely be considered business personal property.
Regardless of whether you own or lease, the items you purchased to improve your business space may be covered. New flooring, mirrors, new work stations, countertops, bathroom tile, and even light fixtures.
Essentially, all the items you bought to make your business operational. Tools, electronics, desks, chairs, lamps, filing cabinets, heavy equipment and even decor.
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