What are the three categories under which the BPP form provides physical damage coverage?

The Business Personal Property (BPP) form is designed to provide coverage for items that are vital to the operation of a business. The correct categories under which the BPP form offers physical damage coverage include building, personal property, and property of others.

Understanding each category clarifies how the coverage works:

1. Building: This refers to the physical structure occupied by the business, including any fixtures attached to it. Coverage includes the actual building and any improvements made to it.

2. Personal Property: This encompasses the business's personal property such as furniture, equipment, inventory, and supplies. Anything that is movable and integral to the business’s operation falls under this category.

3. Property of Others: This category includes property that belongs to others but is in the business's care, custody, or control, such as goods held for service or sale. This aspect of coverage is crucial for businesses that handle clients' property.

Collectively, these categories ensure comprehensive protection for both the assets the business owns and those it temporarily possesses, which is particularly important in commercial operations.