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Protect Your Tanning Salon’s Property with a BPP Policy

Business Personal Property beauty salon insurance, often called BPP, is what it sounds like: items that your company individually owns. This can be anything within your salon, including: stylists’ chairs, suntanning beds, computer systems, furniture and tables, or products available for sale. If anything were to happen that ruined your company’s personal property, this plan would help to repay you for any value of the damaged property or the cost to replace the damaged property. Let’s say that you have a $50,000 business personal property insurance policy for your tanning salon. One night, a powerful thunderstorm smashes a tree through the roofing and destroys two suntanning beds in your tanning salon. These tanning beds have a price tag of $5,000 per bed, therefore you are at a loss of $10,000 – you’re glad you’ve got insurance! In case you did not have insurance coverage, you would need to shell out of your business’ coffers to obtain brand new tanning beds. Your BPP insurance coverage should help pay to provide you completely new tanning beds. Most insurance plans wouldn’t compensate the complete $10,000. Why not? Because of your deductible! The deductible is a pre-set amount of money that the insurance carrier is expecting you to pay out before they will shell out for any loss. This keeps beauty salon managers from submitting modest claims for small losses. If your deductible were $1,000, and your loss was $10,000, then you would be reimbursed $9,000 ($10,000 loss less $1,000 deductible). Be sure you check your business personal property insurance coverage or quote for any deductible amount. Some nail salon insurance companies will let you reduce, or even eliminate, your deductible in exchange for a larger premium (price).

Business Personal Property beauty salon insurance, often called BPP, is what it sounds like: items that your company individually owns. This can be anything within your salon, including: stylists’ chairs, suntanning beds, computer systems, furniture and tables, or products available for sale. If anything were to happen that ruined your company’s personal property, this plan would help to repay you for any value of the damaged property or the cost to replace the damaged property.

Let’s say that you have a $50,000 business personal property insurance policy for your tanning salon. One night, a powerful thunderstorm smashes a tree through the roofing and destroys two suntanning beds in your tanning salon. These tanning beds have a price tag of $5,000 per bed, therefore you are at a loss of $10,000 – you’re glad you’ve got insurance! In case you did not have insurance coverage, you would need to shell out of your business’ coffers to obtain brand new tanning beds. Your BPP insurance coverage should help pay to provide you completely new tanning beds.

Most insurance plans wouldn’t compensate the complete $10,000. Why not? Because of your deductible! The deductible is a pre-set amount of money that the insurance carrier is expecting you to pay out before they will shell out for any loss. This keeps beauty salon managers from submitting modest claims for small losses. If your deductible were $1,000, and your loss was $10,000, then you would be reimbursed $9,000 ($10,000 loss less $1,000 deductible). Be sure you check your business personal property insurance coverage or quote for any deductible amount. Some nail salon insurance companies will let you reduce, or even eliminate, your deductible in exchange for a larger premium (price).

John Sampson is the writes for SalonInsurancePro, a site dedicated to information and resources.

Article Source: http://www.articleslash.net

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