Business Contents Insurance

Just as it is important to tailor your insurance for your home’s contents, it is just as important to insure your business contents. Without your contents, you may be unable to operate. Protecting your business contents is vital to protect your income.

All these occupations require adequate contents protection.

• Tradies
• Professionals such as computer specialists or accountants
• Retail shops
• Work-from-home entrepreneurs
• Anyone with a separate business premises where you store equipment and tools

Protecting your business contents protects your income stream. If you had a theft, for example, would you have the cash to purchase new tools and equipment at today’s prices? Business contents insurance is a vital tool in your risk management toolbox.

You should strongly consider insuring any business contents that you cannot replace quickly and inexpensively. Is that piece of equipment, machinery, or tool vital to your business? If yes, it is best to insure it.

Consider the replacement value of these business contents when selecting an insurance value.

• Business equipment
• Computer equipment
• General contents such as laptops, mobile phones
• Machinery
• Office, warehouse and factory fit-out
• Stock
• Tools

A business contents insurance policy is designed to protect you against the loss or damage of office and other equipment that you need to carry out your business activities.

Such policies may cover damage caused by theft, fire, stolen money, vandalism or malicious damage, smoke damage, storm damage and rain or water damage, depending on the terms of the policy.

Some types of business contents policies may also include coverage when accidental damage to equipment occurs (up to an agreed amount) and may also cover reasonable expenses incurred when you lose important business information (such as accounting details) that need to be re-created.

Business contents insurance is important when you consider the consequences of losing the tools and equipment you use in your business and the impact this could have on your income and clients if you were without them – even for a short time.

If you run a home-based business, you should also be aware that most home contents insurance policies do not cover tools and equipment used for business purposes.

Business contents insurance is important for all types of small businesses ranging from retailers to tradespeople to consultants. It may be invaluable in helping you to resume your business activities when tools, equipment or stock is damaged or stolen.

The cost of business contents insurance will depend on the types of tools and equipment you need for your business and how much they cost to replace. It may also be impacted by the type and location of your office or storage premises and the security that applies there.

The smart thing to do is to get a quote from one our friendly insurance brokers after fully explaining your business circumstances, the replacement value of the items being insured and the risks your business faces.

Often, we may be able to offer business assets cover in combination with other business insurance policies which may help reduce your overall insurance costs.