Could your business survive without its equipment? Could you afford to replace all your stock if your premises burnt to the ground? Business contents insurance can ensure that fire, storm, flood or theft doesn’t grind your business to a halt. This kind of policy can pay out for the repair costs, or even replacement costs, for items that suffer damage following an insured event.
Finding the right contents insurance provider will depend on what you need out of your cover. Companies storing large amounts of goods to sell will need to ensure that their policy comes with the option to cover stock. The best way to find a provider is to compare multiple policies, to find the most extensive coverage for the lowest price.
Finding a Policy & Provider
Almost every business has different needs when it comes to insuring their physical assets. An office may require cover for computer equipment, servers, printers and intangible assets, like their essential data. A beauty salon will need protection for specialist equipment such as tanning booths, sunbeds or hair styling equipment.
It can, therefore, be beneficial to opt for a policy tailored to your industry, to find an appropriate level of cover. There are three routes to finding a contents policy that’s right for you.
- Approaching insurers directly – Many commercial insurance suppliers have a contents insurance product available. Contents insurance tends to come as an optional extension to other insurance policies, such as buildings insurance or a comprehensive business insurance package. Bear in mind that contents insurance as part of a package deal is more difficult to compare like-for-like with other policies. Take into account the features offered by each policy, rather than looking solely at the price.
- Going through a broker – Brokers offer the advantage of having expert knowledge when it comes to all things insurance. They’re familiar with insurance jargon, technical policy wording, and also have fantastic links with leading insurance providers. This means they’re able to arrange you a policy which gives you the bespoke protection you need, and likely for a better price.
- Comparison websites – Another helpful way to compare policies is to use a comparison website. Numerous sites have cropped up over the last ten years, which compile quotes from a range of providers in a helpful list. Most sites give you the option to filter the results by specific criteria, such as price or the maximum level of coverage available.
This list gives an overview of some of the business contents insurance providers on the market.
Business Contents Insurance Providers
Hiscox
Contents insurance for businesses is available through Hiscox, in tailored policies specific to certain industries. One example is their office contents insurance, designed to protect a company’s computers, office furniture and valuable documents, as well as a specialist contents policy for technology companies, which can cover software incompatibility following a claim.
Hiscox offers cover for loss of data up to £5,000. They also provide a limit of £5,000 for any personal property belonging to employees or visitors on the business premises. Full theft cover and accidental damage cover are included as standard, alongside a limit of £25,000 for possessions off-site, such as those in transit or the homes of employees. A range of optional extras can be added to the contents insurance policies by Hiscox, including portable equipment insurance and business interruption insurance. You can generate a quote on their website.
Premierline
Rated 4.7 out of 5 on Feefo reviews for excellent customer service, Premierline offer a commercial contents insurance policy for companies looking to protect their business assets and equipment. They provide insurance for three groups of contents: electronic office equipment, fixtures and fittings and general contents, with the additional option to cover stock, too. Companies can seek advice over the phone with one of their experts to determine a suitable level of cover or generate a quote online.
NFU Mutual
Products tailored to specific industries and business types are available through NFU Mutual. Some of these include products for catering businesses, wholesalers, retailers, surgeries and office-based companies, such as accountants, solicitors and IT. Their packaged policies include property cover, which provides for contents as standard, with the option to cover computer equipment and software up to £25,000.
NFU Mutual is suitable for smaller businesses owing to their localised approach. For quotes, advice and to arrange a policy, NFU Mutual encourage clients to come in person to one of their local offices around the UK to meet face to face.
Aviva
With business contents insurance from Aviva, companies can choose which items they want to cover with the policy. Possible add-ons include furnishings, fixtures and fittings, glass cover, electronic equipment as well as trade stock. There’s also cover for items taken home by employees, as well as protection for employees’ and visitors’ personal items on the premises. Aviva’s contents insurance can either be combined into a comprehensive policy together with buildings insurance or is available as a standalone product. Small companies can receive a quote and purchase online – companies with more than nine employees need to go through a broker.
AXA
A bespoke business contents insurance policy is available through AXA, either as a standalone product or combined with other policies. AXA’s cover is suitable for a vast range of businesses spanning multiple industries, including beauty salons, hairdressers, shops, cafés, surgeries, offices and more. Companies can choose to insure their contents, including fixtures and fittings and employees’ personal belongings as well as loss of money, stock deterioration and goods in transit if they choose. AXA can also cover stock, taking into account seasonal fluctuations.
Policyholders have access to a 24-hour emergency claims line for support handling a claim, to ensure the business is back up and running as quickly as possible. You can retrieve a quote online through their website.
Direct Line
Direct Line for Business offers a flexible contents insurance policy suitable for smaller businesses. This policy can cover contents against a wide range of insured events, including malicious damage, civil commotion, riot and theft, alongside typical events such as fire, storm and flooding. Companies can also choose to add stock insurance to their policy, as well as coverage for items on the go. Tailored policies are available for companies operating in specific industries, as well as cover suitable for mobiles businesses. You can find a quote online or over the phone.
Allianz
For companies looking for a combined policy, Allianz can offer a comprehensive package product featuring business contents insurance together with buildings insurance. They have a range of products catering to specific businesses, including retailers and officers. Cover is available for computers as well as stock and other trade contents, with an extensive limit of up to £2.5 million. Policyholders have access to a 24-hour legal advice helpline for free tax advice and discounted legal action. Insurance from Allianz for these kinds of products are only available through a broker.
Lloyd’s Banking Group
Household name Lloyd’s Bank offers tailored packages for various business types. These policies include contents insurance, tailored to the needs of cafés, surgeries, salons, shops and offices, whether it’s office chairs and computers you need to protect or dentist chairs and specialist medical equipment.
Their policies offer cover for a wide range of insured events, including fire, smoke, explosion, escape of water or oil, theft, subsidence and both accidental and malicious damage. You can also choose cover for any money kept at the property as an optional extension. You can speak to one of their expert advisers online, where you can generate a quote estimation in less than ten minutes.
Markel Direct
With over 25 years’ experience insuring all kinds of professionals, Markel can offer flexible contents cover as part of a packaged policy. Contents insurance can be built into the range of products Markel has on offer tailored to different business types, such as their office insurance product. It can cover accidental damage, theft and natural disasters, with options to include items both on-site and on the go. Markel’s cover can also protect home offices for those who work from home. Contents insurance can be combined with other insurance products such as business interruption insurance for a more comprehensive cover. You can generate a quick quote online through their website.
Travellers
A standalone contents insurance policy is available from Travellers, who specialise in commercial insurance for small to mid-sized businesses. They can tailor products to companies in industries such as technology, media and finance, as well as those in the public sector. Their commercial contents cover offers protection for computers, office equipment and documents stored off-site. Other benefits to the policy include cover for improvements to a workspace made by the business owner as well as items in transit or an employee’s home. Their products are only available through a broker.
NIG
Since 2010, NIG has specialised exclusively in commercial insurance products. They offer several package products tailored to shops, offices, surgeries and home businesses, all of which can incorporate business contents insurance to cover your valuable equipment. NIG can insure up to £5 million of contents insurance in packaged policies comprising public liability, employers liability and business interruption cover. Goods in transit and money on-site are also available, with limits available of £10,000 and £12,000 respectively. NIG products are traded exclusively through independent brokers, though you can generate a quote on their website.
Tapoly
Founded only in 2016, Tapoly is an insurance provider specialising in flexible insurance products designed for SMEs, freelancers and those who are self-employed. They can offer an office contents insurance product, which can cover items from theft, damage or loss. The policy covers materials both on-site and away, while you or your employees are travelling with them in the UK and abroad, or equipment at trade shows or exhibitions. Money stolen is also included as standard as well as the reconstitution of valuable data, electronic or physical. Obtain a quote online by filling in your company details.
Halifax
Whether you run a shop, surgery, hotel, café, salon or office, Halifax has a tailored policy to cover your contents. Their business-specific packages cover the unique needs of different types of companies, combining buildings and contents insurance together in a package deal. As part of this comprehensive policy, you can choose to add stock and business interruption insurance as optional add-ons, as well as public liability and goods in transit. For any queries or advice, you can request a callback from one of their specialist business insurance advisers.
Endsleigh
With over 25 years’ experience insuring businesses, Endsleigh can offer business contents insurance for a variety of business types, including home offices. They can cover furniture, fixtures and fittings, windows and displays as well as third party belongings, such as any personal items belonging to visitors or employees. They can also cover items taken off-site if they’re used for business purposes. For companies looking for an all-encompassing policy, Endsleigh can build contents insurance into a portfolio policy, together with public liability, buildings insurance or employers’ liability cover.
Simply Business (Broker)
A policy through Simply Business can offer cover following a range of disasters, including protection for expensive devices such as computers and laptops, essential equipment that your business relies on, and business furniture. Simply Business offers contents insurance as a standalone policy, or provide the option to build a bespoke product comprising other features of cover, such as public liability insurance, employers’ liability insurance and professional indemnity insurance.
Within their contents product line, they also offer a number of policies tailored to various professions, including gym insurance, beauty salon insurance, carpenter insurance and pub insurance. Simply Business have access to a wide range of leading insurance suppliers, and their in-house award-winning claims team are on hand 24/7 to offer support throughout a claim.
Superscript
Founded in 2015 and formerly known as Digital Risks, Superscript offer a comprehensive business contents insurance product to cover your company’s equipment, electronic devices and stock. They offer protection on-site, in co-working spaces and for remote workers, and include 90 days of unoccupied cover as standard. Other benefits to their policy include new-for-old replacement, the ability to cover items worldwide, as well as a fast claims service, which contributes to it’s 4.8 out of 5 rating on Trustpilot. You can generate a quote online in under ten minutes.
Tradesman Saver
Insuring businesses since 1984, Tradesman Saver offer contents insurance to existing commercial clients as an optional extension to other business policies. They provide up to £20,000 all risks cover as well as public liability insurance as standard. As part of their automatic policy package, policyholders have contents insurance, public liability insurance and products liability insurance, as well as up to £250,000 of legal expenses cover. Perks to a policy with Tradesman Saver include online access to quotes, purchase options and policy documents, instant cover and the option to pay in monthly instalments.
PolicyBee (Broker)
Awarded the Feefo Platinum Trusted Service Award in 2020 for excellent service, PolicyBee can arrange contents insurance tailored to specific business types through their panel of trusted insurers. One such policy is their office and business insurance policy, which includes contents insurance among other features of cover, such as buildings insurance and legal expenses. This policy is an ‘all risks’ policy, offering cover for items on-site as well as out the office or on the move. It can cover computers and portable equipment, as well as any equipment you have hired or borrowed. You can receive a quote online in less than two minutes, or speak to an adviser over the phone.
Macbeth
Suitable for smaller businesses run from a commercial property, Macbeth offer contents insurance to companies operating out of offices, amongst other essential forms of cover. Their office contents insurance can cover the cost of replacing and repairing any office or computer equipment, whether it’s damaged, lost or stolen. Contents cover comes alongside public and products liability, employers’ liability and business interruption, in a comprehensive package policy. For a quote, you can submit a query online or use the instant chat function to speak to one of their advisers.
Swinton
Cover for business contents is available through Swinton as a feature of their multipurpose business insurance policies, tailored to specific business types. Policies include their salon insurance product, a home business policy and their small business package, which can be adapted to a range of business models. These all-encompassing products can include cover for business equipment, stock and money left on the premises, alongside other useful features such as public liability cover, employers’ liability insurance and legal expenses cover. Quotes are available over the phone or online.
Summary
Companies rely on all kinds of material items to carry out trade. Whether it’s as simple as one laptop, or a warehouse of specialist machinery, many businesses would buckle without their essential equipment. Some firms invest hundreds of thousands in their stock or tools, and wouldn’t be able to afford to replace them following a disaster.
Business contents insurance can be a great way for companies to insure their valuable equipment and business items against damage caused by fire, flood or theft at the company premises. Picking the right provider and policy for your business takes time, do your research and as always seek professional advice where needed.
Bonus Point: Multiproduct for Lower Premiums
A multiproduct may be worth considering, particularly for smaller businesses. You might be able to save money on your premiums by taking out multiple forms of cover under one all-encompassing policy. For small companies, having various types of cover in one overarching policy can cut down on administration costs and time, too. Most providers offer their contents products on their website, where you can view the features of cover they can offer and generate an online quote.
