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Building and Personal Property Coverage Form (BPP) by Mind Map: Building and Personal Property Coverage Form (BPP)
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Building and Personal Property Coverage Form (BPP)

A. Coverage

1. Covered Property

a. Building, (1) Completed additions, (2) Fixtures - including outdoor fixtures, (3) Permanently installed machinery and equipment, (4) Personal property used to maintain or service the building, (5) Materials and supplies used for additions/repairs within 100'

b. Your business personal property, (1) Furniture and fixtures, (2) Machinery and equipment, (3) Stock, (4) Other personal property used in business, (5) Value added labor and materials, (6) Use interest in improvements and betterments, (7) Leased property with contractual agreement to insure

c. Personal property of others, Real property, Outdoor property, Other items

2. Property not covered

3. Covered causes of loss

4. Additional coverages

a. Debris removal

b. Preservation of property

c. Fire department service charge

d. Pollutant clean-up and removal

e. Increased cost of construction

f. Electronic data

5. Coverage extensions

a. Newly acquired/constructed property, (1) Buildings, (2) Your business personal property, (3) Period of coverage

b. Personal effects and property of others

c. Valuable papers and records

d. Property off premises

e. Outdoor property

f. Non-owned detached trailers

B. Exclusions and limitations

C. Limits of insurance

Outdoor signs

Additional coverages

D. Deductible

E. Loss Conditions

1. Abandonment

2. Appraisal

3. Duties in the event of a loss

4. Loss payment options

5. Recovered property

6. Vacancy

a. Definitions of vacancy

b. Restrictions

7. Valuation

a. ACV

b. Small building losses

c. Sold stock

d. Safety glazing on glass

e. Tenants improvements and betterments

F. Additional conditions

1. Coinsurance requirement

2. Mortgageholders clause

G. Optional coverages

1. Agreed value

2. Inflation guard

3. Replacement cost

4. Extension of replacement cost to personal property of others

H. Definitions