However, many insurance companies allow replacement cost insurance on contents of schools. As with buildings, the amount of insurance must reflect at least 80 percent of the current cost to replace. The cost is usually more reasonable than a separate burglary policy. Also, investigate the specific scheduling of different types of contents. For example, the school's movie projector, typewriter, phonograph and tape recorder can be protected on or off the premises.
Deductibles are also available on contents.
If the school is in a rented building, ask for a statement in writing from the owner about insurance carried on the building. Be aware of any clauses in the lease requiring the lessee to cover building property. This will protect both the lessor and the lessee if the negligence of either causes damage to the other's property. If this clause is not possible, fire legal liability insurance may be needed. This insurance is purchased to protect the policyholder who may become legally obligated to pay damages due to negligence for bodily injury or property damage to third parties.