What is “Business Personal Property Insurance”?
The ASCP Business Personal Property (BPP) Insurance was designed specifically for the unique insurance needs of our members. Our BPP program covers members’ property (equipment) both on and off premises. This is important, as many policies do not cover property once it is taken off business premises. The policy provides members with up to $10,000 blanket coverage. This means you do not need to hassle with providing us with a list itemizing equipment values of the property. Both your current and newly acquired property are insured for replacement cost, up to the $10,000 limit. Should members have a covered loss, their claim will be paid based on the cost of that equipment, new, with no deduction for depreciation. All losses are subject to a $250 deductible; theft losses are subject to a $500 deductible. Coverage is written on a broad basis with few exclusions. Comparable insurance programs cost over $200 per year, but is available to our members for only an additional $95 per year.
