What type of losses does the general property policy generally cover?

The general property policy is primarily designed to cover direct physical losses or damage to commercial and non-residential structures. This type of policy is often utilized by businesses to protect their properties against various risks such as fire, theft, vandalism, and other perils. It provides coverage for buildings and structures that are not strictly residential in nature, which can include office buildings, warehouses, retail spaces, and other types of commercial properties.

In the context of the other options, high-value personal properties are generally covered under specialized personal property policies, while personal automobiles require a specific auto insurance policy. Exclusive residential properties, on the other hand, are usually covered under homeowners' insurance rather than a general property policy. Thus, the general property policy is distinct in its focus on commercial and non-residential risks, making it essential for business owners looking to protect their investment in physical assets.