Looking for Business Contents Insurance?
When you have a business premises, you want to make sure that everything inside is protected in case of fire, theft, damage or flood – and that’s exactly what business contents insurance can do.
Think about your office, workspace, workshop or shop. It’s most likely filled with furniture, tools, equipment, electronics and even stock. If something were to go wrong, would you be able to cover the cost of replacing it all? If the answer is no then business contents insurance could be what you’re looking for.
Remember to give insurers a real estimation of the contents value so you’re not left short if you need to make a claim for loss or damages due to:
- Break in
- Malicious damage
Why do I need business contents insurance?
Your business will have things that are essential for day-to-day running, and you might also have specialist items that are quite expensive. Business contents insurance can help you replace the things in your workplace – from the office mugs, right up to display screens and computers, food preparation equipment and even fridges.
Losing stock or materials could cause serious financial harm and mean that you’re unable to open or make sales – so not only are you faced with the cost of replacing stock, but you’re also losing income too.
Business contents insurance on the go
Although every insurer is different, some will offer you a business contents insurance policy that also covers certain items that have been removed from your workplace. So, if you’re on the road a lot, work on-site or are travelling to see new clients or suppliers, you can still insure things like your laptop, phone and anything you need to help make sales.
Protecting property that’s not yours
Not only does business contents insurance cover the items you personally, or your business owns, but it can also help to cover third party belongings too. Whether it’s employees, customers, clients or visitors to site, you can help to ensure that you can replace items should they be lost, stolen or damaged too.
What about my business building?
Contents insurance can only help to cover the things and possessions inside of the premises, the building itself would need building insurance to help cover the cost of repair or rebuild. If you own the property you will need to look into this, but if you’re a tenant your landlord should sort it out for you.
Business Contents Insurance – Useful FAQs
Almost anything that’s in your commercial premises can be covered, including large expensive items, right down to envelopes – just remember to give a valuation and overview as detailed as possible so you’re not left disappointed.
There are plenty of companies that could do with business contents insurance. Imagine that a pipe burst and your office furniture, art and stock was destroyed. Or, you run a B&B and a fire destroys everything including bed linen and industrial cleaning equipment. If it’s crucial to the running of your business then it’s a good idea to include it.
No. By law you don’t need to have business contents insurance, but if you are worried about whether you could replace everything, then it can give you peace of mind and minimise downtime or disruption.
It’s hard to say as many insurers will work out your monthly premium using different criteria. This could be things like:
- The type of business
- Where your business is based
- Your claims history
- What you want to insure
You may also find that you want to bundle your business contents insurance with other policies into a single manageable monthly payment.