Building is insured for $1,239,000. BPP is insured for $100,000. There is a named storm percentage deductible of 3% $15,000 minimum per location per attached named storm deductible endorsement. Building deductible would thus be $37,170. Damage to the building is approximately $25,000, so the loss does not exceed the deductible. Damage to the BPP is approximately $5,000. Based on the endorsement language that separate deductibles apply to both the building and personal property, should the deductible for the BPP be $3,000, or the residual of the building deductible?

The Insured has a business income loss as well under form CP 00 30 10 12. A 72-hour waiting period applies to it separately from the building deductible, correct?

Thank you.