What is it?
Having adequate business insurance cover is one of the most fundamental parts of being in business, as it provides invaluable protection against a range of risks/events – equipment and assets, legal liability, reducing financial uncertainty and protecting your livelihood and that of your workforce. Insurance companies provide a wide variety of general business insurance policies so it’s essential to get the right one for your needs.
What it covers?
Business Insurance policies typically allow you to select relevant sections of cover based on your individual needs, and then group them all together in one policy. It’s important to remember the sections of cover, and the cover itself, can vary considerably from insurer to insurer. Some of the coverage that a standard business insurance policy provides are:
Property Damage – covering property damage to your business assets such as buildings, contents, stock and customers goods in the event of an insured incident.
Business Interruption – covers loss of profits in the event of a property damage claim.
Burglary/Theft – covering theft of goods from the insured premises.
Money – covers theft of money in a variety of locations such as whilst on the premises during business hours, outside business hours, during transit, in a locked safe.
Liability – covers legal liability for injury and/or damage caused to a third party.
Property anywhere in NZ – covers portable property that you take away from your premises.
Computer and Electronic Equipment – covers loss or damage to computer and/or electronic equipment.