What item is considered part of business personal property under the commercial property policy?

Office furniture is considered part of business personal property under a commercial property policy because it encompasses movable items and equipment that a business uses for its operations. These items, such as desks, chairs, and filing cabinets, play a crucial role in the daily functioning of the office environment and are typically not fixed to the structure.

In contrast, a building's foundation is not classified as business personal property since it is an integral part of the building itself, contributing to the overall structure's stability and integrity. Similarly, a permanent installation refers to fixtures that are attached to the building, such as lighting systems or built-in cabinetry, which are also not categorized as personal property because they are considered part of the real estate. Lastly, land on which the business operates is a separate asset and is not included within the definition of business personal property, focusing instead on tangible items that can be relocated or removed.