The building and personal property coverage form insures buildings, business personal property and personal property of others located on the insured's premises. It promises protection against "direct physical loss" due to a covered peril. The designation of covered perils is the function of a separate "causes of loss" form. The four “subitems” to be aware of when determining a limit of insurance for Business Personal Property are 1. Inventory values (keep in mind the fluctuations) 2. Equipment Values 3. Furniture and Fixtures 4. Improvements and Betterments. Building coverage includes any buildings or structures (and their completed additions) shown on the declarations page with a limit of insurance. It does not matter whether the additions are in place when the policy is written or if they are added later.