Which one of the following statements is correct with respect to the Building and Personal Property Coverage Form $($BPP$)?$

The BPP covers business personal property and property of others up to a specified percentage of the building coverage limit The BPP lists several classes of property or kinds of property losses that do not qualify as covered property. The BPP provides coverage against both direct and indirect loss or damage caused by a covered cause of loss. The BPP must be written to provide coverage for all of the following: buildings, business personal property, and personal property of others.