Provisions of a business insurance policy that provide coverage for personal property and buildings. The BPPCF is contained in the simplified commercial lines portfolio (SCLP) policy, and extends coverage in three ways: buildings owned by the business, as well as fixtures, equipment and materials considered permanent; personal property owned by the business; and improvements and personal property of parties other than the insured.
BPPCF typically insures against three forms of peril: basic form (e.g. fire, smoke, vandalism), broad form (falling objects, such as ice and sleet) and special cause of loss form (accidental losses outside of flood, earthquakes, and wear and tear).
Businesses can expand the BPPCF coverage to also cover property outside of the building (e.g. trees, fences), information and records, personal effects and off-premise property.