Business Insurance

So, maybe your business is service based which means you only have offices…or maybe you own a factory with adjacent offices for your accounting and sales staff? And what if you’re an attorney or accountant with trust or mortgage deeds in your possession? Whatever your situation you need office contents insurance! What am I insured for under the office contents section? The office contents section provides indemnity against five different risks. The risks in question are: Loss or damage to contents caused by one of the insured perils Rent payable by you as tenant while the premises are uninhabitable as a result of one of the insured perils. This is limited to 25% of the sum insured. Loss or damage to documents kept at the office (Important for attorneys!) by one of the insured perils. This is limited to the cost of restoring or replacing these documents. Legal liability you might face as a result of loss or damage to important documents in your possession at the time of the loss The increased cost of working in order to maintain the normal operation of the business after loss or damage to the contents by one of the insured perils. This is ...

For most businesses, when it comes to insuring against all the potential risks you face, fire insurance forms the foundation. Now I can almost hear you saying: “Fire insurance…Why fire insurance? I’m more concerned about theft cover than fire!” So let me explain… Fire insurance – otherwise known as ‘property’ insurance – indemnifies you in the event of an insured event happening to your buildings, your machinery, and your stock in trade. What is an insured event? Many clients believe that insurance covers for all eventualities where a loss occurs. Here’s an example… Just the other day one of our clients wanted to claim because a staff member ‘stole’ a very expensive set of tools from the workplace. It took some explaining for him to realise that employee theft is not an insured event…in fact, theft itself is not an insured event unless specific cover is taken out for it! So what exactly are you covered for? Under the fire section there are three main risks (or perils) covered: Fire Lightning or thunderbolt Explosion  In addition to the basic perils a number of additional perils are added which include: Earthquake damage Storm, wind, water, hail, or snow (normally with a ...