Basic

Provide the least coverage from damage caused by fire, windstorms, hail, lightning, explosions, smoke, vandalism, sprinkler leakage, aircraft and vehicle collisions, riots and civil commotion, sinkholes, and volcanoes.

Basic

Broad

Cover the causes of loss included in the basic form, as well as damage from leaking appliances, structural collapses, falling objects, and weight of ice, sleet, or snow.

Broad

Special

Provide the most coverage. These policies cover damage from all causes of loss, except those specifically listed in the policy. These are called policy exclusions. Most policies exclude damages from floods, earth movement, war, nuclear disaster, wear and tear, and insects or vermin.

Special

Replacement Cost

Pays to repair or replace your property at current costs. This means the policy will pay enough to rebuild your building and replace your property with new items, even if the cost is more than what you originally paid.

Replacement Cost

Actual Cash Value

Pays replacement cost minus depreciation. Depreciation is a decrease in value because of wear and tear or age. If you have actual cash value coverage, the policy might not pay enough to fully rebuild your business.

Actual Cash Value