What is EquipProtect?
EquipProtect is the equipment and business interruption coverage included in the Alternative Balance membership for all members. This benefit covers $10,000 for business personal property (your movable equipment, tools, supplies) and $10,000 business interruption & extra expense (replaces income and expenses if you have a covered loss to your business personal property).
What is EquipProtect PLUS+?
EquipProtect PLUS+ is the increased BPP/BI coverage you have available to you when you join Alternative Balance. You have the option to upgrade to EquipProtect PLUS+ in your account any time to make sure you have enough coverage to protect your equipment and income as your business grows.
All services qualify for EquipProtect PLUS+ levels up to $100,000 ($50,000 BPP/$50,000 BI), and some services can even qualify for EquipProtect PLUS+ levels up to $325,000 total coverage amount!
What is Business Personal Property (BPP) Insurance?
Business Personal Property (BPP) coverage protects the movable, physical items owned by your business from unexpected disasters like fire, theft, sprinkler leakage, vandalism, wind, and hail. Think of BPP as coverage for "everything you would take with you if you moved locations."
Depending on your wellness niche, your BPP needs will look highly specific:
Beauty Industry (Salons, Estheticians & Nail Techs)
In the beauty space, your specialized equipment and inventory are your livelihood. BPP covers:
- High-Value Equipment: Hydraulic styling chairs, professional hair dryers, facial steamers, LED light therapy machines, and microdermabrasion devices.
- Retail & Backbar Inventory: Shampoos, conditioners, hair color lines, professional serums, nail polishes, and chemical peels.
- Supplies: Shears, foils, capes, towels, hot-stone heaters, and sanitation equipment (like UV sterilizers).
- Technology & Furnishings: Your point-of-sale (POS) iPads, reception desks, ring lights, and waiting room furniture.
Massage & Bodywork Professionals
Massage therapists rely on a mix of portable equipment and high-turnover consumables, including:
- Treatment Furniture: Electric/hydraulic massage tables, portable tables, bolster cushions, and specialized therapist stools.
- Therapeutic Equipment: Hot stone warmers, towel cabis (towel warmers), percussion massage guns, red-light therapy lamps, biofeedback machines, and PEMF machines.
- Supplies & Linens: High-grade sheets, face cradle covers, blankets, and towels.
- Consumables Inventory: Massage oils, creams, essential oils for aromatherapy, and therapeutic creams.
Fitness & Personal Training Businesses
Fitness professionals have some of the most expensive physical assets. BPP is vital for protecting:
- Cardio & Strength Equipment: Treadmills, spin bikes, rowing machines, squat racks, free weights, kettlebells, and cable machines.
- Specialized Studio Gear: Pilates reformers, yoga mats, suspension trainers (TRX), resistance bands, and medicine balls.
- Electronics & Sound Systems: High-end studio speakers, wireless microphone systems for instructors, wall-mounted TVs, and member check-in kiosks.
What is Business Interruption & Extra Expense (BI) Insurance?
While BPP covers the physical "stuff," Business Interruption (BI) coverage protects your financial survival if a BPP loss forces you to close temporarily. If a fire shuts down your salon or someone steals your equipment, BI helps by:
- Replacing Lost Income: Reimbursing the net income you would have earned had the property loss not occurred.
- Covering Operating Expenses: Paying for unavoidable ongoing bills, including rent and utility bills, while you are closed.
- Extra Expense Coverage: Helping cover the cost of setting up a temporary pop-up location (like renting a temporary chair or studio space) so you can keep servicing clients.
The Takeaway: BPP pays to replace your physical tools and gear. BI keeps the lights on and bills paid while you wait for those replacements to arrive. Together, they form the safety net that ensures a temporary setback doesn't become a permanent closure.
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Business Personal Property Deductible
$500(for TIV under $250,000) -
Business Personal Property Deductible
$1,000(for TIV over $250,000) -
Business Income Deductible
72 hour waiting periodThis benefit begins 72 hours after the loss occurs.
- Tenant betterments and improvements, plate glass, and flooring are only covered for coverage amounts above $100,001 for select services.
- Earthquake, sewer overflow, ground water seepage, and flood are excluded.
- Equipment like trailers, RVs, mobile vehicle units, and mobile equipment, and automobiles are excluded.
- Refer to your policy documents for full details.
Business Personal Property (BPP)
Business Personal Property (commonly called BPP) means the movable items owned by your business (such as equipment, computers, supplies, furniture, etc.). The property could be located in your home office, office building, gym, studio or other location you work from.
BPP also includes property of others in your "care, custody, and control," which basically means their property is in your possession.
Common causes of loss include but are not limited to theft, fire, water damage, vandalism, and hail.
NOTE: This is not coverage for your building. This coverage is for your equipment and other movable business personal property.
Business Interruption & Extra Expense (BI/EE)
Business Interruption & Extra Expense insurance provides coverage when your business shuts down temporarily due to a covered loss (e.g., theft, fire, water damage, vandalism, and hail). This helps replace your income and covered expenses like rent, payroll and other financial responsibilities during times when your business is not able to operate.
Total Insurable Value (TIV)
The Total Insurable Value (commonly called "TIV") is the total for BPP and BI combined. Simply add together the value of your Business Personal Property and your Business Income & Expenses amounts.
Example:
Betty's Skin Studio owns $25,000 in business personal property (face creams, steaming machine, face masks, esthetics table, lights, shelving, etc.) and her monthly business income & expenses are around $5,000 (rent, income, utilities). Betty will want to plan for the following coverage amount:
| 3 months of business income & expenses: | $15,000 | |
| Business personal property: | + | $25,000 |
| Total Coverage Needed: | $40,000 TIV |
Most members will see options that split the TIV evenly between BPP and BI. In this example, Betty would select the option for $25,000 BPP/$25,000 BI. This will ensure she has enough for her equipment and her business income.
