Frequently Asked Questions

Dog working at a laptop

    Is replacement cost the same as market value?

    No. Market value is the amount of money your property would sell for on the open market. The replacement value is related to how much it would take to repair or rebuild your damaged property, returning it to a like new condition.

    Terrorism risk insurance covers damage and destruction to your business property, including buildings, equipment, furnishings and inventory, due to certified acts of terrorism. Business interruption costs or liability claims against the business may also be covered. An act of terrorism is considered certified upon the formal designation by the U.S. Department of Treasury.

    Business personal property includes the equipment, furniture, inventory, and goods used at your business, as well as, any improvements and enhancements made to your business space, and any business equipment you may have leased. We suggest selecting a business personal property limit that is 80% or more of the current replacement cost of all the property in your business.

    There are two likely reasons you were unable to be matched to an insurance provider.

    First, you may participate in marijuana sales, adult themed businesses, or weapons or firearms sales.


    Second, if you offer multiple, different types of services through your business, your risks are just too complex to handle through Gildber. No worries though, just text us at 330-333-6146 and we’ll discuss other options.

    This can be the items you sell, the perishable goods you use, down to the reams of toilet paper and cleaning supplies stored in the backroom. Any materials or supplies, used to operate your business, at risk for fire and theft, will likely be considered business personal property.

    Regardless of whether you own or lease, the items you purchased to improve your business space may be covered. New flooring, mirrors, new work stations, countertops, bathroom tile, and even light fixtures.

    Essentially, all the items you bought to make your business operational. Tools, electronics, desks, chairs, lamps, filing cabinets, heavy equipment and even decor.

The content provided on this site is solely informational and does not replace legal, professional, or regulatory advice.