TYPES OF BUSINESS COVER
Business Interruption cover is often overlooked by business owners, who focus on insuring against theft, fire etc. Whilst stock and contents can be replaced, without Business Interruption cover, you can be left out of pocket while you are unable to generate income or due to the extra costs you incur getting your business back on track.
- Loss of income / Loss of Profits covers the loss of gross profits or income that you would have received, but are unable to because of damage to fixed assets (with a fire & perils or theft claim).
- Additional / Increased Cost of Working covers the increased costs that you incur as a result of a claim, for example extra rent for an alternative premises, marketing materials or temporary staff.
- Theft / Burglary covers your business for contents and/or stock lost due to as a result of theft following forcible and /or violent entry. Extra costs such as the cost of replacing locks & keys can also be insured. This section does not require you to insure the full amount of your contents or stock.
- Money Cover ensures cash, cheques and negotiable instruments are insured against theft whilst on site at your business, in transit or at your private residence.
- Glass covers the replacement of fixed internal and external glass and signs.
- Fire & Perils provides cover to building, contents and stock, for physical damage including fire, storm, water and option flood and accidental damage
- Machinery / Electronic Equipment Breakdown covers the cost to repair equipment after mechanical or electrical breakdown. Stock may also be insured for example when stock in cold storage is ruined following machinery breakdown.
- General Property (Australia Wide Coverage) covers loss or damage to property taken off site. For example fire & perils or theft from vehicles or premises of items such as mobile phones, laptops and tools of trade
- Goods In Transit covers stock in transit (road, rail, sea or air) between suppliers, your business premises and your customer's premises.
Public and Products Liability
- Public and Products Liability Insurance is vital for any business owner. It covers compensation and legal expenses that you are legally liable to pay, for Third Party bodily injury or property damage and from products manufactured, imported or sold arising from your business activities. This type of cover can have many different variations depending on your business' specific needs.
- Event Liability can be obtained as an annual or one-off policy and is often used for events such as market stalls, fairs, trade shows, club activities, business shows and exhibitions. Cover can include public liability and cancellationfees.