Comprehensive Guide to Business and Personal Property Coverage Form (BPPCF)

Julia Kagan is a seasoned financial and consumer journalist, formerly serving as the senior editor for personal finance at Investopedia.

What Exactly Is the Business and Personal Property Coverage Form (BPPCF)?

The Business and Personal Property Coverage Form (BPPCF) is a crucial component of commercial insurance policies designed to safeguard businesses against accidental damages to their owned buildings, as well as both owned and non-owned business personal property.

Deep Dive into the Business and Personal Property Coverage Form (BPPCF)

Typically, BPPCFs provide protection against a wide range of risks, encompassing basic, broad, and special causes of loss. This extensive coverage means that BPPCFs generally protect against nearly all perils unless explicitly excluded under special causes of loss provisions. Common exclusions often include flood, war, wear and tear, and earthquake damage.

Owned buildings refer to the structures listed in the insurance policy, including permanent fixtures and improvements made to these buildings. Owned business personal property covers assets owned by the insured business. Meanwhile, non-owned business personal property includes permanent enhancements made to leased spaces and personal property owned by others but held in the insured’s possession.

Insurance policies can enhance BPPCFs through endorsements, allowing coverage extensions such as protection against earthquakes, radioactive contamination, personal belongings, important documents, and property located off-premises. Endorsements may also boost coverage limits for outdoor property like trees and landscaping.

Understanding the Simplified Commercial Lines Portfolio (SCLP) Policy

The BPPCF forms a key part of the Simplified Commercial Lines Portfolio (SCLP) policy, which offers comprehensive protection for businesses against various damages and losses. Alongside BPPCF, an SCLP policy includes three additional coverages: crime, boiler and machinery, and liability coverage. Often, BPPCF and SCLP are used interchangeably due to BPPCF’s prominence within the policy.

• Crime Coverage: Protects against risks such as forgery, fraud, kidnapping, ransom, extortion, employee dishonesty, theft, disappearance, destruction, and counterfeit money.
• Boiler and Machinery Coverage: Covers losses from breakdowns of insured equipment or equipment in the insured's custody, including electrical, pressure and refrigeration, mechanical, and turbine categories.
• Liability Coverage: Addresses costs related to lawsuits, judgments, and settlements arising from accidents caused by the insured or their employees. This includes general liability, product and completed operations liability, advertising and personal injury liability, medical payments, and fire legal liability. Each category typically has its own liability limit, with a combined overall limit applying except for product and completed operations, which have a separate annual cap.

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