The Building and Personal Property Form has a long list of property not covered. Is this a rip-off? No. It's just good economics - and saves you money! Most of this list reflects risks that not all insureds have and other forms of insurance can cover. So, for instance, autos held for sale are excluded. Good thing because your premiums won't be affected by losses to this type of property. Those in auto sales can obtain insurance specifically fitted to this type of risk.
Curious about property not covered? Whip out your policy and check the list. Among items not covered:
- vehicles licensed for use on public roads
- animals
- money
- other items that can be covered by other forms of insurance
What additional coverage is provided in my policy?