Building And Personal Property Coverage Form


DEFINITION of 'Building And Personal Property Coverage Form'

The document that details the provisions of a type of business insurance policy designed to cover direct physical damage or loss to a covered commercial property and many of its contents. The form defines what property is covered (e.g., building, fixtures, personal property), what property is not covered (e.g., cash, animals, contraband), what types of losses are covered (e.g., fire, vandalism), additional coverages (e.g., debris removal), exclusions and limitations, insurance limits and deductibles.

BREAKING DOWN 'Building And Personal Property Coverage Form'

It is important that the policyholder read the building and personal property coverage form when the policy is taken out to make sure everything important is covered. If the policy is inadequate, it is often possible to purchase additional coverage. The form also describes the conditions that must be met for the policy to be valid.

  1. Business And Personal Property ...

    Provisions of a business insurance policy that provide coverage ...
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  3. Rider

    A provision of an insurance policy that is purchased separately ...
  4. Commercial Real Estate

    Property that is used solely for business purposes. Examples ...
  5. Premium

    1. The total cost of an option. 2. The difference between the ...
  6. Insurance

    A contract (policy) in which an individual or entity receives ...
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