What types of property do I need to insure for my business?
Your business may not possess all the following types of property, but you can use this list to help make sure that you have considered all the property categories and any insurance coverage that may be warranted:
Building and other structures (owned or leased)
Furniture, equipment and supplies
Money and securities
Records of accounts receivable
Improvements and betterments you made to the premises
Data processing equipment and media (including computers)
Valuable papers, books and documents
Mobile property such as automobiles, trucks and construction equipment
Signs, fences and other outdoor property not attached to a building
Intangible property (good will, trademarks, etc.)
To establish the amount of insurance you need on each, your Hoffman & Associates agent can help you review the types of property you own and their uses.
There are many other coverages business owners should be aware of. Be sure to discuss your business in detail with your Hoffman & Associates agent so they can assist you in finding the right coverage for your business.
NOTE: The answers to coverage questions are primarily based on ISO forms generally used in Florida by most companies. However, please keep in mind that all companies forms are NOT necessarily the same. Some companies may provide broader coverage and some may be more restrictive. IN ALL CASES, THE CONSUMER MUST REFER TO HIS OR HER OWN POLICY FOR SPECIFIC COVERAGE INFORMATION.