Business Property
Insurance

Because most startups have very little business property compared to larger companies, it’s common to bundle BP coverage with General Liability into a Business Owner’s Policy (“BOP”).

In fact, at Vouch, we only sell startups BP coverage as part of a BOP bundle, because it’s so rare that a startup has enough property to justify a standalone policy.

Business Property insurance can cover the cost of repairing or replacing business property owned by your startup when it’s damaged by “covered events.” In a typical Business Property policy, covered events include but are not limited to…

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  Fire and smoke
  

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  Lightning strikes
  

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  Theft
  

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  Vandalism
  

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  Water damage originating indoors (burst pipes, sprinklers, etc.)
  

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  Explosion
  

But we always recommend checking your policy to confirm what it covers and excludes.

If your product or service is responsible for damaging the property of a third party, your General Liability policy may be able to cover the costs of repairing or replacing that property. Note that in order to make a claim, the value of the damaged property would likely need to be greater than your policy’s deductible.

CLAIM SCENARIO

Someone at your coworking space burns microwave popcorn while you're working in a common area. The sprinklers go off everywhere, and several laptops get wet and stop working. You file a Business Property claim and receive enough money to replace your machines.

Your BP policy won’t cover damage caused by events that aren’t covered. Usually, that means floods, earthquakes, sinkholes, mudslides, wars, nuclear damage, and failure at a utility company.

Another important note: normal wear and tear isn’t covered by BP insurance. You’re responsible for keeping your business property in good working order and replacing it when it wears out.

Oh, and if you rent a car, that’s not considered business property and therefore won't be covered by this insurance. Instead, look for a Hired and Non-Owned Auto policy.

Vouch is a company built by founders for founders, which means our coverage and service are designed to work with the realities of running a startup.
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For example, we once spoke with a client who had to go through six months of back-and-forth with their old insurance company to get their $3,000 laptop replaced.
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With Vouch’s BP coverage, you can replace crucial property quickly.