Note. It's usually combined with one or more causes of loss forms. These come in three types: basic, broad, and special. The first two are named peril forms-a grouping of perils such as fire, windstorm, and vandalism. The special is an open peril form-everything is covered except for specifically described exclusions.

Tip. Look at your entire policy to determine your coverage.

The Building and Personal Property Form:

• Contains the Insuring Agreement. Indirect losses, like the interruption of your business, can be covered. You can imagine that an interruption of your business could be a greater loss than direct property damage!
• Distinguishes between buildings and business personal property. Logic is used here, not strict legal definitions. For example, building coverage can include permanently affixed items and equipment used for building maintenance. This may not seem important, but imagine you're a landlord. You'd want your snow blower or lawnmower covered in building limits.
• Calls attention to coverage for other people's property. If your business deals with the property of others-as do drycleaners, equipment repair shops or storage facilities-you'll want separate bailee coverage.

Note. Some insureds will have only business personal property. Others will have only real estate. Others will have both. That's why the insurance policy has separate dollar limits of coverage. It's important to know how property is classified.