Business contents are everything you use in the office or wherever you operate your business. This can include computers, office equipment, furniture and equipment, as well as the personal belongings of customers for which you are responsible.
If you add portable contents cover to your policy (sometimes known as portable equipment insurance) business contents can also include the items you take out and about with you, like your laptop, mobile, camera and tablet.
Business contents insurance is designed to protect the possessions and equipment kept at your business's premises. It can cover you for loss or damage caused by:
If you're looking to take out insurance cover for your business contents, keep in mind that there are a wide range of factors that can influence just how much your policy will cost. Of course, the amount of insurance you wish to take out is obviously going to have a bearing on how much you have to pay for premiums, so it's important to work out exactly what level of cover you need and can afford.
The nature and size of your business will also play a big role in determining your premiums. Some businesses, for example a firm that specialises in earthmoving services, will most likely need cover for a range of heavy machinery that is much more expensive than the cover needed for a small office supplies business. Some industries obviously attract larger sums insured, while it also stands to reason that larger businesses will have more to insure.
Insurers will take your business's claims history into account when assessing your application. If storm damage or burglary have caused problems for you in the past, this could affect the cost of your future insurance premiums. In addition, your business contents insurance could cost more depending on where your business is located. As an example of this, storm damage can pose much more of a regular threat in some areas of Australia than it can in others.
If you run a business, there are a few other important types of insurance you need to consider:
Public liability insurance protects your NFP organisation if someone claims your negligence has led to property damage or an injury.
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Liability insurance is a broad term that describes a few types of business insurance cover. The type you need will depend on the nature of your business.
There are various types of insurance to consider based on your specific business needs. Find out more in this guide.
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