Buildings screen for businessowners

In businessowners, buildings are the fundamental rating unit for policies. A single building class code applies to both property and liability coverages. Businessowners policies must contain both property and liability coverage. Every policy must have at least one location and building. Conversely, multiple buildings at a single location may be treated as a single building with blanketed values.

The Buildings screen displays all previously added locations and allows you to add or select buildings at the highlighted location.

When you select a location, PolicyCenter displays buildings at that site and allows you to add buildings to that site. Clicking the Add button opens a Details screen where you can edit the building details. Clicking on a existing building also opens this screen.

Details tab

The Details tab allows you to enter building attributes that will be used for rating, insurance to value testing, and underwriting information.

The Details tab has the following key fields.

Field name	Description
Building Class Code	Enter a building class code. You cannot update a building without supplying a class code. The drop-down list may also be pre-filled with codes filtered by the industry code of the primary named insured on the policy.
Building coverage	This is a suggested coverage because it is not required for renters.
Premium Basis Type	The class code determines the value of this read-only field. The basis types are: Liability Limit – Most stores and general business operations Payroll – Contractors Sales – Motels, restaurants, and some types of stores Building Limit – Lessors Risk Only (LOR)
Premium Basis Amount	An input field which is only visible if the basis type is Sales or Payroll.
Business Personal Property	This coverage is commonly referred to as contents or inventory. The coverage is a suggested coverage because it may not be required if the owner of a building is leasing it to others.
Building Construction	Provides fields to collect information that PolicyCenter uses in rating and testing insurance to value.
Building Improvement	Enter year of building improvement in `YYYY` format. The fields may be null. Values must be between Building Construction > Year Built and the current date (inclusive).
Burglar Alarm	This data is collected for rating purposes. All fields may be null.
Exposure	These values provide underwriting information which is not directly used by rating, but may affect premium modification.
Interest/Occupied/Leased	These fields provide data for rating and forms inference.
Building Additional Interests	This is a listview that collects information related to people or companies who have an insurable interest in the building or contents such as a mortgage holder or lender.

Additional Coverages tab

This tab is similar to Businessowners line screen. Coverages on this tab apply only to the selected building.