How long is the coverage for newly acquired property under BOP extensions?

The correct answer is 30 days. Under a Businessowners Policy (BOP), newly acquired property is typically covered for a period of 30 days from the date of acquisition. This provision is beneficial for businesses as it provides immediate coverage without the need for additional paperwork or endorsements when they acquire new property.

This extension allows businesses to have peace of mind while they integrate new assets into their operations, ensuring that they are protected against potential losses that may occur during this transitional period. It’s important for business owners to be aware of this limitation so they can make timely adjustments to their insurance coverage if necessary to ensure continuity of protection for any newly acquired assets beyond the initial 30 days.