Property Insurance for Nonprofit, Social and Human Service Organizations

What is Property Insurance?

When most people see “property coverage” they may automatically assume that the nonprofits entire property is included. This could be a false assumption and could leave gaps in your coverage. To fully understand property insurance coverage, we will break it down into two distinct coverages; Building coverage and Business Personal Property coverage.

Building:

Building coverage is designed to protect everything that is a permanent part of the building, as well as anything that will be permanently affixed to the building. This could include additions, fixtures, extensions, machinery and equipment.  Some of the determining factors for rating building coverage are the buildings age, the roof type, the electrical wiring throughout the building and the buildings PPC (Public Protection Class). The PPC is important because it quantifies the risk associated with your building on a scale of 1-10 (1 being a low risk and 10 being a high risk). Factors that are considered in the PPC are mainly how close your building is from a fire hydrant, fire station and how current your fire alarm communication system is.

Business Personal Property:

So what about all of the contents within the four walls? This property coverage option is known as Business Personal Property or BPP.  Looking at the name, you could interpret that all of the personal property associated with the business will be covered. Simply put, if you were to flip the building upside down, anything that would fall from the building would be covered under BPP. This could include office equipment, computers and even company furniture.

Obtain a Property or a BOP quote for your nonprofit, social or human services today!