Insurance to Cover Businsess Assets and Contents

This insurance covers damage, loss or theft of any of your company's assets. This could include damage to your business premises, the theft of an expensive computer or the loss of important equipment.

Who should take out insurance to cover their assets?

Taking out insurance to cover your business premises and belongings is essential if the functioning of your company could be affected by the loss or damage to any of your assets. The insurance company will pay out if anything were to happen providing you have obtained the suitable cover. This eliminates the risk of financially replacing whatever has been lost, stolen or damaged yourself.

Your assets can be defined as physical items that belong to your company, below are links to further information sources about the different types of insurance available to cover your assets:

• Property Insurance
  - The buildings themselves but not anything contained within the building.
• Contents Cover
  - Anything the company owns that is not property or a vehicle, for example, stock, machines, computers, furniture etc.
• Vehicle Insurance
  - If the company owns any vehicles that are in use, motor insurance is a compulsory insurance cover. Every vehicle must have a valid policy.

As the owner of the company it is up to you to assess the potential risks involved in your business' activity. If you are a property owner there are always risks that should be taken into consideration such as where your building is situated; is there a possibility of any flood damage? Are you located close to companies or buildings that could potentially cause damage to your own property? If the answer to such questions is yes then you may wish to take out a higher level of cover.

The insurance provider will also take your potential risks into consideration when drawing up your quote. Obviously, the less risks your company entails the lower your premium is likely to be.

What type of adviser can help?

For advice on insurance cover related to your business' assets you will need to speak to an Insurance Broker.

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