Property Insurance

As the name suggests, property insurance provides coverage to your business for loss or damage (such as fire or vandalism) to your property. Most business owner's policies include property insurance. Business property coverage typically falls into two categories: building and personal property:

Building - This coverage is sometimes referred to as "real" property. It protects you should something happen to your building. Be sure to analyze your policy to see exactly what it includes - these policies typically cover damage caused by fire, lightning, wind, vandalism, or the weight of snow on your roof. Some things such as earthquakes, hurricanes and even general wear and tear are often excluded.

Personal property - This covers a business for loss of, or damage to, the property inside its building, such as files, office furniture, inventory, materials, etc. Check to see if your policy includes your computers and your phone system; your insurer may consider these to be "special" property and require additional coverage.