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Business Owners Insurance, Katy
Eligibility for Business Owners Insurance
For an Office
The building must be 6 stories or less with no more than 200,000 square feet in total floor area. Contents coverage is available for up to 25,000 feet in total floor area. Office condiminiums are eligible.
For Mercantile / Wholesale
Coverage is available for up to 25,000 square feet in total floor area for companies with up to $5 Million in annual gross sales per location. Sales over $5 Million require underwriter approval.
Convenience Stores
Gasoline sales are limited to 75% of total gross sales.
Property Coverage within Business Owners Insurance
Business Owners Insurance includes all of the following property coverages:
- Accounts Receivable
- Aircraft or Vehicles
- Automatic increase on buildings
- Business income including extended business income and civil authority
- Business personal property away from premises
- Business personal property of others
- Debris removal
- Explosion
- Exterior building glass
- Extra expense including civil authority
- Fire and lightning
- Fire department service charge
- Forgery and alteration
- Increased cost of construction
- Money orders and counterfeit paper money
- Peak season coverage (25% increase)
- Personal effects
- Personal property at newly acquired premises
- Personal property of premises
- Preservation of property
- Replacement cost of contents (with no depreciation)
- Riot
- Smoke
- Sorinkler leakage
- Trees, shrubs and plants
- Valuable papers and records
- Vandalism and malicious mischief
- Windstorm and hail
Liability Coverage within Business Owners Insurance
Business Owners Insurance includes all of the following liability coverages:
- Advertising and personal injury (libel, slander, falst arrest)
- Bodily injury / property damage
- Fire legal liability
- Host liquor liability
- Medical payments
- Products and completed operations liability
Special Enhancements Available with Business Owners Insurance
Newly Acquired Property
The limit of insurance can be extended to apply to specific buildings including newly acquired or built property at 100% of the described limit without exceeding $250,000. Coverage under this type of extension will eventually end when a new property is reported, a full 60 days goes by, or the policy actually expires.
Newly Acquired Business Personal Property
nclude any premises that you acquire. Coverage under this type of extension will eventually end when a new property is reported, a full 60 days goes by, or the policy actually expires.
Personal Effects
Pays up to $2,500 for the personal effects owned by you, your officers, your partners or your employees. Excludes business utilized tools.
Personal Property of Premises
Extends insurance to apply to property other than money and securities that is transit. Amount can be as high as $10,000, but cannot exceed $5,000 if the damage was caused by theft.
Outdoor Property
Coverage can be extended for up to $2,500 for radio, TV antennas, fence, trees and shrubs. Limit is $500 for trees and shrubs if the loss resulted from fire, lightning, explosion, riot, civil commotion or aircraft. Coverage also included an amount up to $2,500 per sign attached to the building that is insured at the premises and $2,500 per occurrence for signs that are not attached.
Arson Reward (not available in the State if New York)
$5,000 reward will be offered for information that leads to an arson conviction that is connected with any fire loss covered under your policy.
Money and Securities
Pays up to $2,000 inside and $2,000 outside the business premises for loss of securities and money that is the result of destruction, disappearance or theft.
Accounts Receivable
Extends coverage to specifically cover an amount due from customers, interest charges on any loan used to offset uncollectible accounts, collection expenses in excess of normal collection expenses, other reasonable expenses that result from direct physical loss or damage to your record of account up to $5,000 on premise, $2,500 off premise.
Valuable Papers
Extends coverage an additional $5,000 on premise and $2,500 off premise for costs to research, replace or restore lost or damaged papers or records including records on electronic or magnetic media.
Fire Extinguisher Recharge
Pays up to $1,000 for the cost of recharging fire extinguishers and dry chemical fixed pipe after being used in extinguishing a fire on the covered premises or on an adjoining premises.
