Customers' Flooring under the Building and Personal Property Coverage Form

May 30, 2016

We insure a flooring company that will store flooring in their warehouse that belongs to a customer. What is the best option to insure the property of others: merely allow the property value to be included in the BPP limit as the definition of BPP includes property of others or specify a limit for personal property of others?

Connecticut Subscriber

The ISO CP 00 10 Building and Personal Property Coverage form contains a coverage extension for personal property of others that is in the insured's care, custody, or control. The extension carries a limit of $2,500. If the insured needs more coverage, the property should be covered under the personal property of others coverage, which is designed to cover such property. The business personal property coverage part applies to the insured's property.