Property insurance helps to protect the owner or user of property for its loss, or the loss of its income-producing ability, when the loss or damage is caused by a covered peril. This coverage often has a deductible or self-insured retention.
There are three basic types of policy forms – Basic, Broad and Special. These terms mean like they sound – the basic form has the most basic of coverage and is limited in its coverage. The Broad Form has more options but is still limited. The Special Form is the most often used for Commercial Business. This form provides more coverage for businesses.
Property is a form of insurance which protects a building and its contents. There are a number of types of business insurance policies available on the market, and when purchasing this insurance product, Business Owners should contact Quest Insurance to confirm that they buy a product which is suitable for their needs. Property Insurance has three basic types of forms: