Property Insurance

When reviewing property insurance, be sure to discuss these five categories:

  1. Contents

  2. Computer Software and Equipment

  3. Inland Marine

  4. Improvements and Betterments

  5. Building Coverage


Coverage – Insures office furniture, machinery and computer equipment.

Cost – $20,000 in contents is approximately $250 annually.

Computer Software and Equipment

Coverage – Additional content coverage that specifies computers / software against additional perils not covered by a typical contents policy. Examples include damage from electric surges and loss of data. You will need to itemize your computer equipment and software. By that, we mean you will need to list your equipment and software and the cost on an EDP (electronic data processing) form. This is known as an “additional rider”.

Cost – $1.50-$2.00 / $100 value annually.

Inland Marine

Coverage – Insures mobile property such as a laptop computer, video / sound equipment. You may be required to itemize these mobile properties as well.

Cost – $1.50-$2.00/ $100 value annually.

Improvements & Betterments

Coverage – Check your lease agreement to see whether or not you have improvements (walls, re-carpeting, re-painting) and betterments to insure.

Cost – usually included in the Contents policy at that going rate.


Covers commercial buildings and personal property against a wide variety of perils or causes of loss, such as a fire. Obviously, you will not need Building Insurance until you own the facility.

Cost – Usually a rate multiplied by the replacement cost (this means no deduction for depreciation will be accounted for when the insurer pays your claim). Cost varies widely from $.30 – $1.10 per $100 value annually. Rural and coastal areas are more expensive than urban areas; frame is more expensive than brick, etc.