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Most policies on business property primarily cover fire and extended coverage risks. This standard coverage is essential for businesses, as fire represents one of the most significant threats to property. Additionally, extended coverage typically encompasses other hazards, such as storms, vandalism, and theft, which are common concerns for business operations.

While some policies may provide broader options or variations based on specific business needs, the foundation of coverage usually rests on these two categories. This approach ensures that businesses are adequately protected against prevalent risks they might encounter while safeguarding their assets.

The alternative choices suggest different levels of risk coverage that are either too narrow or too broad for typical business property insurance. For instance, the notion of covering "all risks" can mislead policyholders, as this may imply an unrealistic coverage scope without limitations. Similarly, policies that cover only fire or merely align with commercial property floaters don’t capture the wider array of threats businesses face. Therefore, the combination of fire and extended coverage provides a balanced and practical approach to risk management for business properties.