Business Liabiliity and Property insurance are there to protect you from damage to yours or another's possessions or self.
Liability Insurance is there to protect you from damage done to others. Sometimes, the terms used for Liability Insurance can be a little confusing. Below we've listed a few definitions that might help to clear things up.
Property coverage covers damage to your own buildings or personal property. Your Business policy might be written in different coverage forms: basic, broad, or special, and may be covered for Replacement Cost or Actual Cash Value. For more information on different coverage forms and Replacement Cost vs. Actual Cash Value, click the links below. Scroll down for a more complete description of Property coverage.