BOP property coverage sorts things into three buckets. Ask: is it part of the structure, is it the business's own movable property, or does it belong to someone else?

Buildings: the structure itself, completed additions, fixtures (including outdoor fixtures) and permanently installed machinery and equipment. Being permanently installed is what moves machinery into the building category.

Business personal property: movable property the business owns, such as inventory, even while it sits inside the building. It also includes tenant's improvements and betterments: fixtures or alterations made part of a building the insured occupies but does not own, paid for by the insured and not legally removable. A tenant's built-in counter is therefore covered under the tenant's business personal property limit, even though the landlord owns the building.

Personal property of others: property of others in the insured's care, custody or control, such as customers' watches left at a repair shop. The ISO form lists it within business personal property; the CDI outline lists it as a separate category. Ownership is not required for this coverage.