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Business Personal Property insurance

Business personal property insurance to value

You’ve built it, now protect it.

It took you years to develop a winning product or service, leverage hard-earned investment dollars, and build a prospering company.

As your business has grown, so have your tangible assets. Whether it’s the diagnostic equipment to examine your patients, the stamping press that shapes your parts or the computer servers that store your proprietary data, this tangible property is essential to your business. If disaster strikes, are you prepared to have it all quickly replaced at today’s costs? Replacement is more than just the purchase price, it involves making the purchase, then having it delivered, installed, tailored to your specific application and tested.

Business personal property – General guidelines

Replacement Cost (new) = The cost (new) of the same item or replacement item with equal utility including applicable taxes, delivery and installation charges.


3 Replacement Cost (new) is not Depreciated Asset Value.

3 Normally a lessee is responsible to insure equipment they lease.


3 Replacement Cost (new) is not the cost of used equipment.

3 Replacement Cost (new) is not Market Value or Liquidation Value.

“How did you get your values?”

There might be a problem if:

•     They’re derived from your Fixed Asset List

•     You don’t know and you’ve been increasing the equipment values you customized

•     Values are obtained from a Market Value Appraisal

Manufacturing operation example

There might be a problem if:

•     Your Building Value is higher than the

BPP/Machinery & Equipment Value

•     If one line or piece of equipment is a significant percentage of the total value of your assets

•     The majority of your assets were purchased used

 

 

In the event of a significant loss event, blanket limits of insurance may hide depressed values exposing business owners. Some business owners find their blanket limit of insurance values are understated by 50-75%, resulting in significant, unexpected out-of-pocket costs as insurance limits are exhausted.

For example, in a manufacturing operation the per square foot is the cost to replace a facility’s Business Personal Property and Machinery & Equipment (M&E) with items of like kind and quality. These values include installation, shipping and engineering throughout the plant.

M&E INCLUDES machinery, nonlicensed vehicles, conveyors, tanks, silos and support systems. M&E also includes patterns, fixtures, molds, dies, etc. located at your locations and in your care and custody. These cost ranges also encompass the main manufacturing areas, office space, warehouses, maintenance and other areas of the building excluding parking garages. These M&E ranges DO NOT include inventory that consists of raw materials, work in progress or finished goods.

 

Business Personal Property Insurance

 

 

We write insurance policies through the following insurance companies in Los Angeles, Beverly Hills, Santa Monica, West Hollywood, Hollywood, Malibu, Bel Air, West Los Angeles, Westwood.:

 

ACE Insurance
ACE PRIVATE RISK SERVICES Insurance
AIG Insurance
AMERICAN CONTRACTORS IND Insurance
AMERICAN STRATEGIC Insurance
AMTRUST Insurance
AMWINS Insurance
ANDERSON & MURISON Insurance
APPALACHIAN UND Insurance
APPLIED UNDERWRITERS Insurance
ARROWHEAD Insurance
ATLAS Insurance
BBSI Insurance
BERKSHIRE HATHAWAY HOMESTATE Insurance
BROWN & RIDING Insurance
BUILDERS & TRADESMAN Insurance
BURNS & WILCOX Insurance
CALIFORNIA MUTUAL Insurance
CBIC Insurance
CENTURY NATIONAL Insurance
CHARITY FIRST Insurance
CHARTIS Insurance
CHUBB Insurance
CNA Insurance
CNA SERVICE CENTER Insurance
CNA - WESTERN SURETY Insurance
CNA PRO Insurance
COMMERCE WEST Insurance
COMPWEST Insurance
CSE Insurance
DEANS & HOMER Insurance
DONGBU INS CO Insurance
EMC Insurance
EMPLOYERS COMPENSATION Insurance
EXPLORER Insurance
FIDELITY & DEPOSIT Insurance
FIREMANS FUND Insurance
FIRST AMERICAN SPECIALTY Insurance
FIRST COMP Insurance
FOREMOST SPECIALTY Insurance
FOREMOST AUTO Insurance
FOREMOST BUSINESS Insurance
GEOVERA Insurance
GREAT AMERICAN Insurance
GUARD INS CO Insurance
HAGERTY Insurance
HANOVER Insurance
HARTFORD COMMERCIAL Insurance

HARTFORD Insurance
HARTFORD PERSONAL LINES Insurance
HCC SPECIALTY Insurance
HCC SURETY Insurance
ICAT MANAGERS Insurance
ICW Insurance
INFINITY Insurance
INSCO DICO Insurance
K & K INSURANCE
KEMPER PREFERRED Insurance
KEMPER SPECIALTY Insurance
LIBERTY MUTUAL Insurance
LIBERTY MUTUAL SURETY Insurance
LIG - Leading Ins Co Insurance
MARKEL Insurance
MCGRAW Insurance
MEERCURY Insurance
METLIFE Insurance
MEXIPASS Insurance
MIDWEST Insurance
MJ HALL Insurance
NATIONAL GENERAL
NATIONWIDE LIFE Insurance
NATIONWIDE Insurance
NON PROFITS INS ALLIANCE Insurance
ONE BEACON Insurance
OLD REPUBLIC Insurance
OREGON MUTUAL Insurance
PACIFIC COMPENSATION Insurance
PACIFIC GATEWAY Insurance
PHILADELPHIA Insurance
PREFERRED EMPLOYERS Insurance
PROGRESSIVE Insurance
RCA INSURANCE Insurance
REPUBLIC INDEMNITY Insurance
RLI SURETY Insurance
RYAN SPECIALTY GROUP Insurance
SAFECO Insurance
STAR SURETY Insurance
SELECTIVE FLOOD Insurance
STILLWATER Insurance
SUREPRODUCTS Insurance
SURETY CO OF THE PACIFIC Insurance
SURTEC INS CO Insurance
TRANSGUARD INS CO Insurance
TRAVELERS Insurance
TRAVELERS COMMERCIAL SERVICE CENTER Insurance
UCA Insurance
ULICO Insurance
UNITED FIRE Insurance
UNITRIN/FINANCIAL INDEMNITY Insurance
US ASSURE Insurance
US RISK Insurance
VICTORIA INS Insurance
WRIGHT FLOOD Insurance
ZENITH Insurance

 

 

Tired of confusing statements on the web? Not getting the services you desire? Or do they make you go through so many automated systems and not letting you talk to a real person?  Then you are in the right place to change all of those.  

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