Business Contents Insurance

This section provides answers to the following questions:-

Why is Contents Insurance Needed?
What Cover does a Business Contents Insurance Policy Provide?
How much Business Contents Cover will my Business Need?
Compare Contents Insurance Quotes Now

Why is Contents Insurance Needed?

Although you may already have insurance to cover your business premises, this usually only covers the buildings themselves and not the contents inside. For this reason you may also need to take out Contents insurance if there is a risk that anything could be damaged, lost or stolen.

Anything the business needs to function properly should be covered by a Contents insurance policy. Contents insurance is not compulsory but often recommended if your company owns expensive items that may need replacing.

All equipment and stock on the premises should be insured, even if it is not owned by the business, except for portable equipment which is usually insured separately.

What Cover does a Business Contents Insurance Policy Provide?

There are two standard types of Contents cover available:

• Indemnity insurance
• Replace as new

With an Indemnity cover policy the insurance company will take depreciation into account when settling a claim. This means the amount you receive will depend on how long you have owned the product and/or the wear and tear rather than the amount you originally paid for it. An indemnity insurance policy will usually insure your contents if stolen; however, there must be proof of a forced entry in order for this to apply.

If you take out a 'replace as new' insurance policy items will be valued at their price in the current market.

Where the business premises are owner occupied, contents and buildings insurance may be bundled together under one policy. Where the business premises are not owner occupied, the tenant will have to arrange contents insurance under a separate policy.

Stock should be insured for cost price without profit, and provision can be made for seasonal stock fluctuations. Equipment can be insured for replacement as new or on the indemnity basis where an allowance for wear and tear is deducted in settling any claim.

How much Business Contents Cover Will my Business Need?

The amount of cover you take out completely depends on the nature of your business and the activities involved in the industry you work in. You will need to have a clear understanding of the replacement value of your business' stock and equipment and the locations it is held in.

Compare Contents Insurance Quotes Now

Contents insurance is currently offered here at Coverzones as part of our office insurance, residential landlord insurance and shop insurance packages.

With Coverzones you are free to compare, choose and buy small business insurance in your own time, on your own terms. Let us know which policy you are looking for and we'll do the legwork for you - offering up to 6 individual quotes tailored to your business. From there it takes a matter of minutes to choose and buy the policy best suited to your needs, all through a complimentary MyCoverzones account.

Your MyCoverzones account affords you maximum flexibility. You can store multiple quotes as well as amend, renew and cancel policies purchased through Coverzones. You can even start the process of making a claim through your MyCoverzones account.