TIP: Please don't rely on what your insurance agent says. I love the agents, and if they didn't sell policies, I wouldn't have a job handling claims, but most of them have NO idea how to read the policies that they sell. Make sure that you talk TO your company AND get a copy of the policy so you can read it for yourself to make sure you are properly covered in the event of a fire, theft, water loss or auto accident.
For me, I have USAA so I called today now that my Senegence inventory is starting to come in, and my particular policy in Texas covers my business personal property up to $10,000 on-premises and $1,000 off-premises. They don't have any exclusionary language about perils (what caused the loss) and nothing about "articles for sale or distribution" so my inventory is covered. I'm a tad concerned about the $1,000 limit off-premises, but right now I'm so small that my equipment that I'm taking to events doesn't exceed that. However, if I ever get to the point where I have inventory of everything Senegence makes, I will likely have to get a separate small commercial policy. Everyone's situation is different. I have seen a number of policies cover business personal property up to $2,500 on premises and $0 off premises, so please, make sure you know what you are dealing with so you are not caught off-guard. For the time being, I won't be leaving ANY of my inventory unattended JUST in case. I doubt that my LipSense will be the first thing a thief will go for, but makeup divas can get pretty crazy about lipstick.
$7,000 TOTAL BPP LOSS
$6,000 INSURED'S LOSS AFTER DEDUCTIBLE
$5,000 (PAYMENT; limits are less than the loss)
However, if your loss is under the limits, then the deductible will apply so keep that in mind. However, if you have a large loss in your home, it's only going to be one deductible, not two separate.