FAQ Insurance

Office Contents Insurance

Office Contents Insurance

As a small business owner you probably dread the day you get a phone call telling you the office has been broken into, or some kind of natural calamity has struck the building you work in. Yet, many business people still don’t have office contents insurance.

Any small business that can’t afford to replace their office contents such as desks, computer gear, money etc for whatever reason should consider office contents insurance to be a necessary business expense. After all insurance could make the difference between continuing in business or needing to close down.

Numerous case studies have been done by insurance companies and small business advisory services on owners who have suffered catastrophic losses through fire, theft, or other natural disasters. A typical small business will have a fair percentage of the business assets tied up in office contents, whereas for larger corporations the exposure decreases substantially.

In the average small business computers, office furniture, data, and cash on hand simply cannot be replaced from the owners savings, usually the owner takes on a bank loan or invests a substantial part of their savings to start the business, so not taking out an office contents insurance policy is tantamount to business suicide.

Office contents insurance is generally considered affordable, and avoids the difficult need to rebuild the business assets, as well as meaning the business owner avoids needing to downsize whilst assets are repurchased. Too many business owners retrench part time staff after fire or theft of assets. Read more »