What is contents and equipment insurance?
As the name suggests, this cover has two parts. Contents and equipment insurance covers everything in the office, including your fit-out, computers, office equipment, furniture and documents.
Meanwhile, portable equipment insurance covers everything you take out and about with you. So that means laptops, mobiles, cameras and tablets.
It is an 'all risks' policy, so everything is covered for accidental physical, malicious damage, fire, theft and flood. This even extends to items you own, or that you're responsible for, while they're on your premises.
Who is contents and equipment insurance for
Whether you're a freelancer working at home on a single laptop or a multinational corporation, the loss of your office essentials can cause significant disruption to your business. That's why Digital Risks has cover to suit businesses of all shapes and sizes and with all sorts of business equipment.
What are the risks
Your gadgets and equipment are the fabric of your business. But what if something happens to that valuable technology? Could you continue with no smartphone, laptop, tablet?
What about everything else your business relies on – furniture, filing cabinets, coffee machine. Could your business continue if it was damaged or destroyed?
With your customers expecting fast, efficient service, just a few days of downtime can cause problems. Plus the costs of replacing your belongings can quickly add up.
Things you can do
If you're in a co-working or shared office space, you must make sure your office equipment is securely locked while unattended. A Kensington lock is often a good option for your laptops and monitors. Putting other valuables in a lockable desk draw keeps them safe and removes temptation from those less honourable than yourself.
Things to watch out for
When choosing your cover limits, make sure you consider the replacement value rather than the market value. You should also consider items that are leased.
If you're in rented premises, you may want to check with the landlord to see what is already covered through their insurance.