HomeFAQBusiness Insurance FAQ’sBusiness Property Insurance
A peril is the cause of a possible loss (examples include fires or windstorms).
Business Income Coverage provides coverage for loss of earnings and ongoing expenses when operations are curtailed or suspended due to property damage resulting from a covered cause of loss.
Electronic Data Processing (EDP) equipment can be covered as unscheduled business personal property in “commercial property” forms such as the building and personal property coverage. An EDP equipment floater can provide added benefits. Many EDP floaters cover special perils such as mechanical or electrical breakdown and typically cover property in transit.
In property insurance, co-insurance is a clause under which the insured shares in losses to the extent that he/she is under-insured at the time of a loss. You may have heard of co-insurance relative to health insurance; this is a provision in which the insured and the insurance company will share covered losses in an agreed proportion.
The Lynchburg Insurance Group is located in Lynchburg, VA. Our insurance agency is a member of the Wyndhurst business community and proudly manages the insurance needs for clients throughout Central Virginia.
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