Business insurance policies can be changed and customised to suit your business needs. You can choose from a wide range of insurance cover specifically tailored to your business.
Generally you need to cover these items under the general property section of the policy which gives them cover anywhere in Australia. The property section of these policies usually covers your contents at the risk address only.
The property section of these policies is based on a replacement settlement basis. This means you need to insure your contents for an amount that is sufficient to replace all the contents items not the value they were originally purchased for.
Yes you can include cover for these items under your office/business package policy.
Generally yes. Most policies don’t automatically provide this cover, and you need to request it and pay an additional premium for it. If your risk address is situated in a high flood zone, then it may not be possible to get cover.
The insured leased premises in which they operated an office/studio. They had been in the building for over 10 years and had installed their own fitout including flooring, workstations, breakout spaces and meeting rooms. Part of the fitout included a hot water system located in the kitchen. Over a long weekend the system burst and hot water began to spray out of the tank quite forcefully. The water had plenty of time to spread through approximately half of the office space and seep through the floor and damage the level below them.
The claim for damage to the insureds contents and fitout was claimable under the property section of their Office Pack Insurance policy.
The occupiers on the level below took action against the insured to recover the costs of the damage to their belongings. This part of the claim was covered by the Public Liability section of the policy.