What type of Building Insurance is Required for a Wholesaler/Distributor Business in Oregon?

What does Business Personal Property and Building Insurance forms cover for a wholesaler/distributor in Oregon?

The building and personal property coverage will cover direct physical loss to your business property if it is damaged or if there is any loss that has occurred. It will also cover the contents. The form will tell you, the business owner, exactly what is covered, what is not covered, if there are any additional coverages included in your policy, anything that is excluded from coverage and what your deductibles and limits are.

If you have questions about your current coverage, or you are seeking another company to do business with, give us a call! Jason Graybeal, President of Ferranti-Graybeal Insurance has first hand knowledge of Distributors and Wholesalers. His family has owned and operated Graybeal Distributors since 1955. He protects his family’s livelihood and has made it his mission to understand wholesale companies, their risks, and the types of coverage they need, his passion. Call us today or contact us for a free review of your current coverage! 541.567.5523

What does Building and Personal Property Insurance normally cover?

This depends on whether you own or rent the building where your business is. If you own the building, you will want property coverage and business personal property coverage. If you rent the building, it is only necessary for you to have the business personal property coverage.

A business and property insurance policy will cover permanent equipment such as boilers, furnaces, and AC equipment. If any fixtures are permanently attached, this policy will cover those items as well, under Building Coverage Insurance. Keep in mind, things that are not permanently attached, such as refrigerators, other appliances, furniture, etc. would be covered under the Business Personal Property Insurance coverage portion of the policy.

BPP consists of owned property that is not part of a building and is not otherwise excluded. It includes office furniture, machines and equipment (if not attached to the building), raw materials, goods-in-process and finished goods. Improvements made to a leased building are covered if you paid for them and cannot be legally removed.

The limits of building and personal property form insurance apply separately to each occurrence, except for a small number of additional coverages specified in the policy. BPP coverage is not subject to an aggregate limit that caps a recoverable amount under that coverage during a policy year. Give us a call at: 541.567.5523. Thanks for visiting today!