In today’s business world, the tools and items we rely on everyday—our computers, appliances, furniture, phones, and mechanical equipment—are more important than ever. That’s why protecting yourself against financial losses when those items are damaged is just as important. With business personal property insurance from Sentry, you can feel confident that our experienced claims team will be there for you in case your personal property is damaged in a covered loss.
What’s the difference between direct property damage loss and indirect property damage loss (also known as time element loss)? And how does it affect my coverage?
If your personal property is damaged or lost due to events like fires, storms, theft, or collisions, that damage is considered a direct loss. But any lost income or increased expenses you encounter because you can’t use the damaged equipment would be considered an indirect loss.
For your business personal property insurance (BPP) to cover a loss, it needs to be a direct physical loss.
Let’s say my laptop is damaged while I’m off my business’s premises, visiting a client. Would the damage be covered under my business personal property insurance?
It would, as long as we’re talking about a covered direct loss. With Sentry, your personal property is covered even when it’s off your business’s premises—at job sites, in transit, and even temporarily outside the coverage territory if it’s in your custody or the custody of your employee or agent. Keep in mind that indirect losses you face because of your damaged laptop—lost income or increased expenses—wouldn’t be covered by your business personal property plan.
By potentially saving you money and providing peace of mind. For example, with Sentry’s Additional Coverages Endorsement (ACE), a broadened property coverage endorsement available with a business owner’s policy, we extend the definition of your premises to provide coverage for property within 1,500 feet of the building. You won’t need to purchase separate property coverage, and you’re less likely to have uncovered property if a loss occurs. The same coverage is available with any property policy (not just a business owner’s policy) under a special broadened property coverage endorsement.
This is just one example of the many expanded coverages we provide. Reach out to one of our knowledgeable agents to learn more about saving money and expanding your coverage.
Sentry and its predecessor companies have offered insurance coverage to businesses like yours for more than 100 years.
Sentry has business customers like you all through our great nation.
Sentry Insurance Group has received an A+ rating from AM Best for 33 years in a row.*
As the philanthropic arm of Sentry Insurance, our giving priorities include education, workforce development, United Way, and local organizations that work to improve quality of life.
Our goal is to do what’s right by you. Our board has experience you can trust to make decisions critical to the success of Sentry—and, in turn, you.
