Business Insurance for Property & Equipment

Property Insurance protects the physical property and equipment of a business against loss from theft, fire or other perils; all-risk coverage covers against all risks, named-peril coverage covers only against specific perils named in the policy.

Property insurance policies are a form of indemnity in which the insurer undertakes to make the insured whole again after suffering a loss. The policy may state the specific compensation payable in the event of loss or damage or the policy will normally pay the intrinsic value of the insured object taking into account any appreciation or depreciation on the original cost. Property insurance policies usually have a maximum sum, or policy limit, for which the insurers are liable.