Does business property insurance include liability protection?
Business property insurance primarily focuses on safeguarding physical assets, and it usually doesn’t have liability coverages. This is because the liability coverage needs of businesses vary substantially.
It’s generally easier to purchase liability coverages separately so that they can be customized. Business property and liability coverages are often bundled together, although the actual coverages remain distinct.
Are digital assets covered by business property policies?
Business property policies mainly cover tangible assets, and not so much digital assets. A policy may cover a computer and hard drive, but it’d be unlikely to cover any data or programs stored on the hard drive.
Businesses that need insurance for digital assets should work with a knowledgeable insurance agent, who can assist with exploring what coverage options are available.