Your business assets help keep you in business, so it makes to sense to insure them. Could you still serve your customers and make an income without a functioning coffee machine or fridge? Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as fire, storm, theft or even accidental damage). A Business Insurance package can also cover your portable equipment, glass and for loss of revenue due to business interruption in specified circumstances. In addition, cover is available for public liability, tax audit, employment practices liability and statutory liability risks.
Here is a bit more information about some of the coverages you can include in your business insurance package:
Glass* – Cover for breakage of internal and external glass and signage you own or for which you are legally responsible, at the insured premises.
Building* – if you own your building premises, consider protecting it from unexpected insurable events. The building insurance section covers your building if it is damaged as a result of a fire, storm, malicious activity or another defined event listed in the policy.
Contents* – Covers your business contents (and stock) such as chairs, umbrellas and tables if they are damaged in a fire, storm or due to malicious damage or some other defined event listed in the policy.
Machinery Breakdown*- protects machinery associated with the operation of your café e.g. coffee machines, coffee grinders and fridges. It covers the cost to repair or replace specified machinery following a breakdown. You can also choose to insure the additional costs to your business or business interruption expenses caused by a breakdown of machinery.
Business Interruption*- things don’t always go to plan. Business interruption insurance provides cover for the loss of income and increased costs of operating your business caused by a specified insured event (such as property damage or fire). It is also designed to assist your business to recover from an insured event by paying ongoing expenses (such as wages or rent).