Protecting Your Business Contents with the Best Insurance Plan

There are thousands of uncertainties that come to mind when we consider starting a business. Risks such as damage and theft of the items involved in your business are major impediments to your business plans. Good insurance can help you overcome these challenges and protect your company from hidden threats.

With so many insurances to choose from, business owners often find it difficult to acquire the best form of insurance for their business and reap maximum benefits. Business contents insurance, an important component of business insurance, is a good way to make sure that your company is always protected.

What is Business Contents Insurance? 

This type of insurance is essential for avoiding additional costs because it compensates you if your company's electronic equipment, contents, or stocks are damaged or stolen. It covers everything from mobile phones and laptop computers to furniture and heavy machinery. In the event that a theft is attempted and your company's contents are damaged or stolen, business contents insurance is the only layer of protection your company requires. It can even protect you if an unforeseen event, such as fire or flooding, damages your contents, allowing you to carry on with your business without further disruption.

Debunking Business Contents Insurance Myths

Although it can be beneficial to small-scale and large-scale businesses, business contents insurance is not failproof insurance that can protect your entire business from multiple threats. Before understanding what insurance is about, let us first take a look at the things it doesn’t cover.

As the name suggests, business contents insurance is meant to cover the ‘contents’ of your business. This means that it does not include your business building or other parts of a building, but only the contents that are movable. The list includes your office furniture, equipment and machinery in use, as well as business gadgets. The use of items such as a freezer causes the confusion. Even though a walk-in freezer is considered a structure, a normal freezer for your employees is covered by business insurance.

Since it is difficult to pin down the exact definition of contents as mentioned in the above example, you need not take the difficult task of differentiating such stuff on yourself. You can take the help of experts such as Bluewell, who provide you with expert advice for all your business insurance needs. To give your business overall protection, you need to ensure that all aspects are covered in one form of insurance or another.  

Another confusing aspect of business insurance for your content is related to mobile equipment in a business. Mobile equipment is considered to be a part of business contents and can be insured with the same insurance as other contents. You may have to pay more for mobile equipment since they are not always on-site. Some examples of mobile equipment include construction equipment, forklifts, and backhoes. Another important thing you need to know is that even though your mobile equipment will be perfectly covered by insurance even if they are stolen or damaged off-site, other contents of your business would not be insured off-premises.  

Now that we've established what isn't covered by business contents insurance, let's look at what it does cover and when it can benefit your company.

Business contents insurance can prove to be extremely helpful in difficult situations such as a fire, theft, explosion, natural disaster, and other malicious damage. Even extreme weather can wreak havoc on a workplace and render your equipment dysfunctional. With the right insurance plan, you can avoid all of these negative scenarios for your business. Your workplace furniture (computer desks, chairs, sofas, and tables), electrical equipment (printers, laptops, phones, screens, binding machines, and so on), manufacturing equipment, and other general contents are all covered by the insurance (staff belongings, manuals, etc.).

Who All Can Benefit from Business Contents Insurance? 

This insurance is required for all premise-based businesses, including pubs, restaurants, and hotels, as well as factories, retail outlets, and offices. Business insurance also assists your company in avoiding the loss of equipment and finances by allowing you to be fairly compensated in the event of a mishap.

Bluewell Insurance Brokers provides the best insurance solutions for all of your commercial insurance needs. Bluewell, an authorised representative of the United Insurance Group (UIG), offers public and product liability insurance, commercial property insurance, glass cover, money cover, transit cover, machinery breakdown cover, tax audit cover, tools cover, small business insurance, and more! Bluewell's insurance solutions can provide multiple business benefits whether you are a new business owner or own a large corporation.