How to Save Money on Workers Compensation Insurance

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Except for a few states including Texas, most states require employers to have Workers Comp by law. Some states exempt businesses with less than 3 or 5 employees are from obtaining Workers Compensation. An insurance agent will be able to provide more detail on the specific guidelines of your state.

Workers Comp is regulated on a state-by-state basis, with the private insurance companies deciding the insurance premium. However, there are monopolistic states that require coverage from their Workers Comp state fund.

If you can provide supporting evidence that your business has a safety program or a low experience modifier score, some insurance companies provide premium discounts.

How Are Premiums Calculated?

The rating of workers compensation insurance starts with the classification rate assigned by the National Council on Compensation Insurance (NCCI).

For example, based on years of claim frequency statistics on Dry cleaners, NCCI sets a risk rate for the business class. Insurance companies use 700 different types of class codes. However, most businesses use only a few to classify each employee’s work type.

For businesses that are new to Workers’ compensation, insurance premiums vary depending on the types and percentage of class codes and the wages for each. For example, a business that has 15 out of 20 employees that work with heavy equipment has a higher risk rate compared to a business that has all 20 employees as clerical. The higher the risk exposure the higher the insurance premium.

According to Hartford, the basic premium= classification rate x (payroll/ $100) For example, a clerical class may be $0.20 whereas roofers who are exposed to higher risks may be $15 to $20.

Normally a business consists of employees with different roles. For example, a roofing company has roofers, accounting staff and sales staff. Correctly categorizing the class for each employee may be a great help to save insurance premiums for some businesses.

Premium Adjustments Based on Claim History

The premium for the first year of insurance is determined based on the average accident rate in the industry and the number of wages expected to be paid over the year.  After a year, the insurance company conducts an audit to ensure that you paid the right amount they insured over the past year. If you over paid, a refund will be issued. If the payroll is more than it was estimated, an additional premium may be charged.

After three years of continuous coverage, the insurance company may re-evaluate your premium based on your past claim history. The number of claims and the amount paid out by the insurance company is compared with the industry average. If it is lower than average, your premium will be lowered but in the opposite case, it will be increased.

 Safety Programs  

Businesses with expensive premium due to high-risk rates may be eligible for discounts if a safety program is in place at the workplace.

Having safety programs at the workplace reduces the possibility of an accident and even in the event of one, the preventive measures reduce claim payouts. This is both beneficial and favorable to both the insurance carrier and the business owner.

Some insurance companies provide onsite consultation to build a safety plan. There are also independent loss control consultants that provides service that trains managers and employees in order to meet industry safety guidelines.

Proving to insurance carriers that workplace safety training is in place may help in reducing your insurance expenses. Such examples could be, keeping records of drug tests, having safety committees, and educating employees on fraudulent claim prevention.

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UM/UIM COVERAGE

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Although auto insurance is mandatory, there are cases where you get into an accident with an uninsured driver. A coverage that can protect you from such situations is Uninsured Motorist Coverage (UM) and Underinsured Motorist Coverage (UIM). This coverage not only protects you from accidents where the other driver doesn’t have liability insurance but also when they have insufficient coverage to pay for your vehicle damages of bodily injury expenses.

Some consumers tend to consider Uninsured Motorist Coverage as unnecessary. However, UM/UIM coverage plays a very important role, and if there is no UM/UIM insurance, people have to go through the hassle of suing the other party to receive compensation for the loss caused by the accident. According to the IRC (Insurance Research Council) 13% of drivers in the U.S are uninsured, and the number isn’t declining.
The state with the highest rate of uninsured drivers is Mississippi (29.4%) followed by Michigan (25.5%), Tennessee (23.7%), New Mexico ( 21.8%) and Washington (21.7%).

 

What is more concerning, is that the accident probability and the amount of damage caused by uninsured drivers is higher than for insured drivers. The top reason for those that don’t have auto insurance is the cost.  However, it has been reported that 40 percent of the eight major accidents in the past decade have been caused by uninsured drivers. Due to this reason, liability coverage is legally required in most states, including Texas.

 

If you get in an accident with an uninsured or underinsured driver and are without UM/UIM coverage, you will have to pay a lot more for hospital bills or car repairs compared to the additional premium for purchasing the coverage. However, if you have the UM/UIM coverage, you can reduce financial expenses for accidents such as hit and run. You and your passengers will receive compensation for medical bills. UM/UIM coverage can also pay for lost wages if you can’t work because of the car accident. It is possible to sue the other driver even if you don’t have UM/UIM insurance, but if the other driver is incapable to provide compensation, you won’t be able to get enough or anything from the other person.

 

UM/UIM insurance is one of the coverages that are included in an auto insurance policy that is so-called full-cover car insurance.  Below are other coverages available in auto insurance that can be customized to the need of each insured.

Liability:

Covers the cost of the other driver’s injuries and property damage if you’re at fault in an auto accident.

Collision:

Coverage that can pay to repair your vehicle if it’s involved in an accident.

 

Other than Collision/ Comprehensive:

Coverage that protects against damage to your vehicle cause by non-collision accidents. For example, theft, fire, flood and vandalism.

 

PIP :

PIP ( Personal Injury Protection) covers medical expenses for you and your passenger if you’re injured in an accident.

 

Towing and Rental Reimbursement:

There are optional coverages such as “towing” and “rental reimbursement”. Rental reimbursement helps pay for your rental car costs while your car is being repaired due to a covered accident.

 

Q) What should you do if you get into an accident with an uninsured driver?

First, call the police to the scene of the accident.
Unless it is a major accident, the police may not come to the scene, but it is recommended that you report the accident.
Although it may be difficult to do so amid all the shock, having a police report can provide evidence when filing a claim. You should also contact your insurance agent if you need any assistance with filing a claim.

 

 

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Alcohol Related Accidents and Insurance

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Regards to drinking related accidents and insurance, there are two major kinds of policies. First, Liquor Liability Insurance for stores or restaurant owners who serve alcohol. Second, SR-22 filing in an auto insurance for those who have DUI.

According to statistics from the U.S. Department of Transportation, there are about 16,000 accidents involving drunk driving.
Despite the high number of deaths and property loss in alcohol related accidents, many restaurants and businesses that serve or sell alcohol still seem to be unaware of the need for Liquor Liability Insurance. A business owner in LA was sued for selling alcohol to a minor who ended up in an auto accident. The business owner was held responsible and was ordered to pay $1 million in compensation.

The “Dram Shop” states that bars and restaurants can be held accountable if they serve alcohol to a minor or visibly intoxicated customer who causes an accident and harms others. According to a recent report by the Texas Restaurant Association, only 135 restaurants, or 45% of the 300 restaurants surveyed, had Liquor Liability Insurance. Considering that the survey was based on large-scale restaurants affiliated with the Restaurant Association, it would be no surprise to find small restaurants that sell alcohol overlooking the risk of liquor liability.

Insurance is all about establishing a reliable foundation for your business by preparing for accidents before they happen. Even with new restaurants and liquor stores on the rise, many seem to be unfamiliar of the type of protection that liquor liability provides and underestimate the importance obtaining one.

Liquor Liability is a type of business insurance that provides coverage for business that sell, serve or distribute alcohol.  It can help cover third party bodily injury and property damage that an intoxicated person causes after you sold or served alcohol. Examples of such accidents are DUI and assault and battery.

Businesses that need Liquor Liability Insurance include liquor wholesalers, restaurants, bars, taverns, nightclubs, entertainment establishments, convenience stores, beer specialty stores, and wine specialty stores. For small businesses, Liquor Liability coverage is usually available as an endorsement that you can add on to your current business general liability and property insurance. As for large-scale restaurants and beer wine stores, a separate Liquor Liability insurance plan can be purchased.  Most Liquor Liability Insurance covers $300,000 to $2,000,000 per case.

Another insurance term associated with alcohol related accidents is SR-22. If you receive a ticket or have an accident due to drunk driving, you will be asked to file an SR-22 from the DMV or another institution. Also known as “Certificate of Financial Responsibility” an SR-22 proves that you have auto coverage that meets the minimum limits required by state law. This document cannot be issued by an insurance agency and can only be issued by insurance companies recognized by the state. In case the insured cancels or no renews their auto policy, the insurance company that filed the SR-22 must immediately report a SR-26 to the DMV. Which will then be followed with the suspension of your driver’s license or fines.

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Credit Scores and Insurance Rates

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Did you know that your credit score affects your auto and home insurance rates? Nearly all major auto and home insurance companies now review your credit score when providing quotes. Let’s take a closer look at how your credit information is used and how it affects your insurance premium.

What is a credit score?

A credit score is a snapshot of your creditworthiness represented as a number. Credit information provided by a credit reporting agency is converted into scores based on various criteria which ranges from 300 to 850. In general, the higher the score, the more financial credibility you have.

How are credit scores used?

Most insurance companies use credit scores in the following two ways. First, as a reference to determine whether to approve or decline a quote. Second, as to determine the amount of your insurance rate. When calculating the rate, some companies put more importance on credits scores whereas some also review driving records and claim history.

 

What affects your credit score?

Below are the most common factors that impact credit scores.

Negative factors: bankruptcy, collection, mortgage, debt exemption

History of late payments: Number and frequency of past due payments.

Debt to credit ratio: How much debt do you have compared to your available credit?

Length of credit history

Homeownership: Whether a house is owned or leased

Credit inquiries: The number of applications for new accounts, such as recent housing loans, utility accounts or credit card

The number of credit cards issued: the number of major and co-branded credit cards that have been approved

The type of credits you are using: credit cards from major companies, store credit cards, finance company loans, etc.

 

Check your credit history!

There is a high possibility that an insurance company will check your credit score. Which means checking your credit score for its accuracy is important.  You can visit companies such as Equifax (www.equifax.com), Experian(www.experian.com), or Trans Union (www.transunion.com) and request a copy of your credit history.

In addition, if you contact the Federal Trade Commission (www.ftc.gov ) you can gain access to a  consumer brochure on credit reports. If you think an incorrect credit report has negatively affected your insurance rate, the insurance company should give the name of the National Credit Bureau that provided your credit report. You can request a copy of the credit report for free and dispute incorrect information.

 

 

How to maintain and/or improve credit score

First, it is most important to pay the debt on time without being late. Credit scores and records should be checked regularly and any issues that may negatively impact credit scores, should be dealt with. Negative information can last up to 7 years on credit reports, so it is important to steadily raise scores. It will require some time but, one to two years of consistent management will make a difference.

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Umbrella Insurance

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Some refer to insurance as an umbrella that protects you from accidents that are like sudden rain. Whether minor or major, there are a significant number of lawsuits in the U.S., holding the other accountable to receive compensation. In addition, the cost to hire a lawyer also varies greatly depending on the degree of skill and reputation.

Lawsuits regarding Liability Insurance claims are very common. Among those cases there are times when your auto and home insurance can’t provide enough compensation for the other party.  Which is why having an Umbrella insurance is necessary to protect your assets against lawsuit abuse.

Home insurance, auto insurance, and business insurance, each have a set amount of Liability Limit. By average, auto insurance holders have a liability limit of less than $100,000.  As for home insurance, the limit of $300,000 is general. In case of business insurance, most have a limit of around $1,000,000.  Imagine you are liable for the damages in an accident that requires a compensation amount higher than your limit. This is why it’s important to consult a professional on whether you have sufficient insurance coverage.

It’s impossible to predict the amount that you might be responsible for paying to the other party. In cases like this, an Umbrella Policy can be a good solution. It provides excess liability coverage above from what is provided by your auto, home or business insurance. Depending on the policy holder’s needs, umbrella insurance provides additional liability coverage from $1 million to $5 million.

Liability coverage compensates the injured person on expenses necessary for recovery, such as medical expenses, rehabilitation treatment expenses, and loss of income. Another important fact is that Liability covers the legal costs that you incur. In most cases, in the event of a huge accident, the average liability limit your home or auto insurance provides will not be enough to cover all of the expenses.

If the other party’s claim for damages exceeds the limit your insurance company can cover, the other party may go after your personal assets. Worst case, to satisfy the judgement, you may have to lose money and property by having to disclose your assets.

The solution to protect you in such difficult situations is to have an Umbrella insurance which is largely divided into Personal and Business. Umbrella insurance provides you a fairly large amount of additional liability coverage at a low price. In particular, Commercial Umbrella Insurance isn’t limited by different regions or locations unless there are legal restrictions. In addition, within the scope of coverage, Umbrella insurance can cover liability claims that is based on both parties’ agreement whether documented or implied in the contract.

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Pollution Insurance

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With the increasing awareness of environmental issues, new legislations are being introduced affecting our everyday economy. One of the main culprits of pollution is synthetic chemical. It has enhanced the quality of life and is easily found in our everyday lives.

Unfortunately, it is nonbiodegradable and negatively impacts our environment. The chemicals found in the process of producing pesticides, weed killers, petrochemicals and plastic are main sources of pollution.

When it comes to environmental issues, it is easy to think of only large oil industries and radioactive waste disposal plants. However, even for businesses that look very safe, there is a potential risk of producing, storing, or releasing environmentally threatening waste materials.

One example is a dry cleaner. Perchloroethylene (PERC) is used by most dry cleaners due to its effectiveness in dirt removal, color retention and ease of use.  However, it is highly toxic and can travel fast and far in soil and water.  Whether due to an operator’s mistake or machine defect, Perc leak can lead to serious groundwater contamination. For this reason, landlords may request a dry cleaner to receive an inspection or obtain a pollution insurance.

 

What is Pollution Insurance?

Environmental accidents can cause major disasters to businesses. This is because general business insurance declarations contain a clause called ‘Pollution Exclusion’.

In other words, regardless of whether the chemicals are gradually leaked over a long period of time or a sudden and accidental release, all losses caused by environmental accidents are excluded from the coverage of general business insurance.

As a result, a separate pollution insurance needs to be purchased.

Starting from the surge of asbestos litigation in the 1970s, pollution insurance gradually developed. Then in the mid-1980s, pollution insurance became a separate type of policy. This was followed my environmental accidents being excluded from the coverage of general business insurance.

 

Who Needs Pollution Insurance?

If the soil or groundwater of the commercial real estate you currently own or intend to purchase is contaminated, the current or past owner faces environmental cleanup costs that may exceed the value of the property. Being unable to meet the environmental requirements will bring disadvantages. Not only will the value of the property plunge but restrictions on land use and development will be imposed.

The danger of casualties also needs to be put into consideration. Whether you are buying or selling a property, pollution insurance will provide protection from such dangers.

Many buyers hire experts to conduct a Property Assessment before purchasing commercial real estate. However, this only reflects the current condition of the property. It doesn’t consider the possibility against environmental pollution that may be discovered or may occur in the future.

However, if a property owner has a pollution insurance, he or she can be compensated for damages caused by environmental pollution that may be discovered or occur in the future.

Businesses such as golf courses, auto repair shops, gas stations, dry cleaners, apartment complexes, plastic manufacturers, and amusement parks require pollution insurance.

 

What Does Pollution Insurance Cover?

Pollution insurance protects against the following accidents related to liability from damage caused by hazardous materials, land relocation, cost of recovering contaminated undeveloped land, above ground or underground storage tanks, etc.

  • Expenses incurred in purifying pollutants at the insured’s property.
  • Property and personal injury to a third party.
  • Cost of cleanup when pollutants flow into the property of a third party.
  • An environmental accident that occurred while transporting chemical products or wastes.

Coverage may vary slightly depending on the insurance company and industry.  When in the process of obtaining pollution insurance, you should fully discuss the risks with an experienced agent. This will help you in choosing the appropriate amount and scope of coverage.

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What is Bailee Coverage?

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Business such as dry cleaners, alterations or shoe repair constantly have customers dropping off and picking up their clothing or shoes. Laundromats are no exception as some are offering wash & fold services.

With the majority of the inventory as possessions of clients, what would happen if there were to be a fire? How are you to compensate customers for the loss or damage of their entrusted items in such accidents?

Bailee coverage is crucial for businesses that hold customers’ property  while repairing or servicing. If a customer’s property is lost or damaged, the insurance company investigates the case. If you are found liable, the bailee coverage provides financial compensation to your client. Some business owners may already have  Bailee coverage.  However, it is more important to check if a sufficient amount of coverage is in place.

To determine the appropriate insurance coverage amount, check your inventory on the busiest day of the week or month. Then, calculate a monthly average. By multiplying the average monthly inventory by 1.25, the Safety Factor adds about 25%. This will help you find out how much inventory you keep and determine the appropriate amount of “Bailee Coverage”. This coverage may not seem so important in your day-to-day business operations. However, it will be helpful in cases when there’s a great damage to the customer’s property due to fire or theft,

For example, there was an incident where a dry cleaner was vandalized and robbed. After the basketball world championship’s final game, what started as an excited crowd became a group of mobs. They broke into a dry cleaner and ran away with all the clothes. Luckily, the owner of the dry cleaner was able to continue the business without much difficulty. He had prepared for the possibility of such an accident and had sufficient amount of bailee coverage. If he had not shown any active interest in determining if he had the sufficient amount of coverage for such  accidents, he would have had to reimburse the remaining lost items out of pocket after using up all his coverage limit minus the deductible of $1000.

Below are additional tips to be better prepared.

  1. Ask your insurance carrier or your agent on the coverages you have and the limit amount.
  2. In case of an accident, accurately assess the customer’s lost item.
  3. Estimate the value of the lost item based on both the price and the year of purchase.
  4. Check if your insurance provides coverage for risks such as riot, fire, or theft.
  5. When it’s time to renew your insurance, double-check if you need to update your insurance coverage limit or add additional items.

Above all, your priority should be to know what your insurance covers and the limit amount before an accident occurs.

 

 

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Vehicle Accidents and Total Loss

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Most car accidents are minor with damages that can be repaired. However, in some cases, the vehicle may end up being totaled.

Below are some frequently asked questions that may aid in a better understanding of total loss accidents.

 

 

◈ What is total loss and how is it determined?

 

The term “total loss” refers to cases where the cost of repairing the damaged vehicle is higher than the car’s actual cash value.

You may think that a vehicle is declared totaled when it is severely damaged and unable to drive. However, it is more of the value of the car rather than the extent of damage.

For example, a 2015 Buick and 2021 Buick occurred the same amount of damage.  There is a higher possibility that the 2015 model will be totaled since it has a lower value compared to the 2021 vehicle.

A claims adjuster looks up the actual cash value of the damaged vehicle on the insurance company’s data base.  It is then compared with the cost of repair to determine if it should be totaled.

Typically, insurance companies use the NADA (National Auto Dealers Association) or Kelley Blue Book and a secondary reference.

 

◈ What if you disagree with the insurance company’s payout or want to keep the totaled car?

 

 You can try to negotiate with the claims adjuster.  If you have done any recent maintenance, submit documentation showing proof the car is worth more than previously estimated. The adjuster will be able to refer to the documents to re-evaluate the value amount. You can also submit documents showing installation of custom parts or equipment to your insurance company.

Depending on the case, it may be possible to keep your totaled vehicle. In this case, the payout amount from the insurance company will be different from when you sign over your vehicle. You will receive the actual cash value minus the deductible and the salvage value.

If you wish to keep your vehicle, communicate with your adjuster on your options.  Keep in mind that the repair expenses, will be out of pocket.

 

◈ What happens to my totaled vehicle?

 

As mentioned earlier, in order for a vehicle to be determined as total loss, the cost to repair must be higher than the value of the vehicle. However, depending on carrier and state law, a vehicle is sometimes considered total loss when the damage amount exceeds a certain percentage of a car’s value.

Once the vehicle is declared as total loss, the insurance company pays out the actual cash value minus the deductible that you have selected on your insurance coverage.

The signed over vehicle will then be sent to a salvage auction.  Some cars will be refurbished but, in most cases, will be dismantled for parts.

 

◈ What if you want to buy a vehicle that has been totaled?

In most states, vehicles that have been determined as total loss are auctioned. The rules may vary but you will most likely need a salvage dealer or car dealer license to participate in these auctions.  So, if you’re planning to repurchase a totaled vehicle, it is important to check what the guidelines are and have a license in possession.

If you do repurchase a totaled vehicle, keep in mind that the whole repair cost will have to be out of pocket. Make sure that all necessary repairs are made because if it doesn’t pass the state inspection by the DMV, the insurance company may later decline coverage for a future accident.

In addition to passing the state inspection, you should also obtain Liability Insurance. Be aware that some insurance companies may not offer comprehensive or collision coverage for vehicles with salvaged titles.

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How Commercial Property Insurance Rates are Determined

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Commercial property insurance is essential for commercial building owners, just as home insurance is for homeowners. Which is why it’s important to know the criteria that affects the premium. The basic premium calculation is to multiply the loss rate estimated by the insurance company by the insured building limit.

 

Although it differs among insurance companies, exposure to fire hazard is the most important factor in commercial building risk rating. For example, a building with explosive manufacturing will have a higher premium compared to a travel agency office. Well-maintained buildings with fire preventive measures have a lower premium than those that are not.

 

Many variables are used to calculate the fire risk rate. Among them, building materials and construction types account for the largest portion. Fire hazard ratings are determined through state-licensed inspectors. They typically sign contracts with insurance companies to rate buildings’ structures. Below are five standardized rating systems that determine fire hazard ratings:

 

  1. Construction Materials

The materials used to build the building affects your insurance costs. Flammable materials, are considered high risk. On the contrary, buildings with fireproof materials may receive discount benefits. New Buildings that are built on existing structure may negatively impact your fire rating. Therefore, it’s important to consult with your insurance company or agent before remodeling. Fire hazard rating can also be affected by the materials used for the interior. A building built with non-combustible materials but with wooden walls, stairs, and floors would receive a lower safety rating. The higher the percentage of non-flammable materials, the better fire rating.

 

 

  1. Location

Buildings located in urban and large towns have a lower insurance rate compared to buildings located on the outskirts of the city. This is because putting out fire for rural locations are more difficult.

 

 

  1. Occupancy

The type of business that occupies the building also affects the fire rating. Office buildings which are low risk receive a favorable rate. On the other hand, restaurants that use ovens or grills every day or car body repair shop that use flammable paint or chemicals have poor fire ratings. Even if only one tenant runs a high-risk business in the building, it will affect the fire rating of the entire property.

 

 

  1. Fire Protection Measures

Buildings that have automatic sprinkler systems throughout the whole premises receive a significantly improved fire rating. In addition, installing fire extinguishers and automatic fire alarm systems in appropriate locations can improve the building’s fire rating. However, if the location of the building is more than 500 feet away from a fire hydrant on the side of the road, the insurance premium will be higher.

 

 

  1. Exposure

There are external and internal exposures that affect the fire rating. If your commercial property is next to a wood or oil storage, the level of risk becomes higher. As for internal exposures, flawed building foundations, exposed electrical or mechanical risks can also have a negative impact on insurance premiums. In addition, the building’s construction year may also have an indirect impact on its rating. Old buildings may have a higher insurance premium, compared to new ones.

 

Together with these five factors, an insured’s claim record also affects the insurance rate. The guidelines differ by each insurance company but, certain surcharges are added depending on the type of the claim and the amount paid out. If your commercial property does not have any factors that may negatively affect your rate but, has a high insurance premium, you may want to talk to an insurance expert to review your policy.

 

If you have any additional questions regarding commercial property insurance, or would like to speak to an agent for a quote, please contact us at 972-243-0108.

 

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Coinsurance in Business Property Insurance

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Many tend to neglect the coinsurance provision found in business property insurance.  However, this term is an important factor that determines whether you will receive sufficient compensation for your property damage. Most accidents are likely to be partial losses with the chance of a total loss being low. With that in mind, a policyholder is likely to underinsure the building by purchasing lower coverage limits to save on premiums. The concept of coinsurance is an agreement between policyholders who want to lower their insurance coverage limits to pay less, and insurance companies that want to maintain their insurance coverage limits at a reasonable level.

Coinsurance stipulates that at the time of loss, more than a certain percentage (usually 80%) of its full value should be insured. If this regulation is violated, you will not be able to receive 100% compensation for when a partial loss occurs.

Let’s say that you own a commercial property worth $100,000 and insure it for $40,000 with 80% coinsurance. A fire occurs resulting in a loss of $40,000. Although the loss amount falls within $40,000, you will only receive $20,000. This is because you have failed to meet your coinsurance percentage of 80%. Under the coinsurance provision, the property should have been insured no less than 80 % of full value ($80,000 ). Since only half ($40,000) of the required amount ($80,000) was insured, your insurer will only pay half of your loss ($20,000). This is called Co-Insurance Penalty in insurance terms.

In commercial insurance, the value of a business property is based on its value at the time of loss. Due to this reason, it is important to regularly check if you have sufficient ring your business property. coverage amounts and make the appropriate adjustments to the limits. This will prevent cases of being penalized for partial losses under the coinsurance clause. The coinsurance penalty doesn’t apply to total loss accidents. However, since you will be paid within the insured limit, having the sufficient coverage amount is important.   If reducing your insurance premium is a priority, consider increasing your deductible rather than underinsuring your business property.

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