Business Contents Insurance

This Officefile guide will help you to better understand and make informed decisions about the type and level of Business Contents Insurance cover your company requires.

Generally speaking the cost of any premium for this type of policy depends on the insurer's assessment of the likelihood of damage and the size of any payment they may have to pay in the event of a claim.

A suitable comprehensive business contents insurance policy can protect your business equipment from perils such as fire, flood, or theft. The best way to establish how much property or contents insurance you'll need is to create an itemised list of your business assets and their individual sterling values.

Your business contents insurance policy can cover some or all of the following:

• Office contents, computers (choose from £7,500, £10,000, £15,000 and £20,000). Stock limit is £1,000 : higher limits are available.
• Portable equipment (laptops, mobile phones), £1,500; (higher limits available).
• Machinery, plant, trade furniture.
• Tenant's improvements to landlord's property
• Fixtures and fittings

A further choice you will need to make is whether to opt for either replacement as new insurance or indemnity insurance. indemnity cover deducts the cost of any wear and tear when settling a claim and is a popular route many companies go down.

Before making any firm decisions on the on the appropriate level of business contents cover it is good practice to seek professional advice from an FSA (Financial Services Authority) regulated insurance company or broker.