Property insurance should pay for direct physical loss and damage to buildings and structures, outdoor fixtures, permanently installed fixtures, machinery, and equipment. It should cover the cost of replacing personal property such as furniture, fixtures, computers, etc. Make a list of those items that are definitely worth protecting, and make sure they are covered by the policy. Carefully review exclusions which remove coverage for certain types of property. You should keep an inventory list and values of furniture and equipment, etc., and give a copy to the agent.
Perils describe the causes of the loss.
If the business faces a risk from an excluded peril, then ask the agent how much it would cost to purchase coverage for the missing peril, and what the likelihood of such an event is in your location. Carefully review exclusions which remove coverages for damage caused by certain perils. The maximum amount of insurance recovery is set by the limits of the policy. Any loss over those limits is uninsured. Be careful when buying a low priced policy, since premiums may be reduced by lowering limits or restricting coverage.