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Business Owners
Package Policy
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An economical, convenient plan covering
- Buildings
- Business personal property
- Loss of income
- Comprehensive liability
Your building
Special coverage for all perils unless specifically excluded. Losses are settled on a replacement cost basis unless actual cash value option is purchased. Vandalism coverage for glass may be purchased if desired.
Your business personal property
Coverage is written on the same basis as building. coverage and includes theft. Stock, Wares, Merchandise, Furniture, Fixtures, Equipment are covered. A special peak season increase provision of 25% in personal property limit is provided to take care of seasonal variations in Stock Values. Enhancement endorsements are available at little or no cost to extend coverage to your accounts receivable, valuable papers, signs, employee dishonesty, mechanical breakdown, computers including software, money and securities, off premises power failure and spoilage of food products, backup of sewers and drains.
Your liability coverage
Optional limits of $300,000, $500,000 or $1,000,000. Personal injury, Products liability, Fire legal liability and premises medical payments are included. Non-owned auto liability coverage for employees using their own vehicle in the course of employment may be added. All employees, while acting within the scope of their duties, are included as additional insureds.
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Earthquake, flood (usually with a separate policy), optional higher deductibles up to $ 2,500 for premium savings, professional liability for Beauticians, Barbers, Funeral Directors, Veterinarians, Inland marine equipment for tools and property off premises, alarm credits for installed protective devices, employee benefit liability, Directors and Officers liability for condominiums.
Loss of income coverage can be more important to you than physical damage coverage
If your business is damaged by an insured peril, Overhead expenses continue, Extra Business expenses are incurred and/or Rent is lost. Policy covers without a stated dollar limit required to rebuild, repair or replace part of building or personal property destroyed or damaged by insured peril. Salaries of key employees and other continuing expenses including net profits while you are getting back in business… and Extra expenses… which help you get back in business faster and/or lost rental income.
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