What is business contents insurance?
Business contents insurance is a type of commercial cover. It aims to protect items kept in your work premises, including:
- Business equipment
- Stock
- Documents.
A business contents policy can cover you against the risks posed by accidents, theft, fire and water damage. It specifically covers equipment in your workplace.
Accidents and theft may happen, no matter how many safety protocols you follow. Hiscox business contents cover can insure a range of items. From computers to office furniture, and valuable stock.
You might be a marketing firm with breakout areas containing expensive seating. Or a photographer with valuable lighting fixed to the ceiling in your studio.
As a direct business insurer, we can provide broad cover. So, artwork and visitors’ personal belongings can be covered too.
Does my business need contents insurance?
As a small business owner, you may face problems that contents insurance could help resolve. Say you couldn’t afford to repair or replace office items damaged by flash flooding. Business contents insurance might help you weather the storm.
Perhaps you’re a nail technician or hairdresser working in a salon. Theft of stock, or vandalism from a break-in, may be tough to manage without cover.
Office-based professionals like recruitment consultants and insurance brokers often rely on tech. If items are damaged accidentally – by an electrical fire, for example – costs may add up.
Insurance can get you back up and running. It could help fund necessary repairs and replacements.
We cover a huge range of business types and sizes. We’ll tailor your contents insurance quote to meet your needs.
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How much business contents insurance do I need?
The business contents insurance needs of your premises will depend on the amount of equipment you own and use.
To work out the cover you may need, add up the value of all your business assets. This will show how much it could cost to replace them.
To avoid underinsurance, get business contents insurance for at least this total value.
What does small business contents insurance cover?
Business contents insurance can cover you for*:
- Theft. This also includes incidents that happen during normal business hours
- Accidental damage cover as standard. For example, damage to windows, displays and signs you’re responsible for
- Loss or damage. This includes damage caused by a storm, flood or escape of water, and fire
- Personal property brought into the office by employees or visitors, other than money, watches or jewellery
- Loss of data. We can cover the cost of restoring databases lost due to physical damage. This might be an office fire that destroys a valuable hard drive. Accidental erasure and loss of data from cyber-attacks aren’t covered by this section
- Specialist tech. Hiscox has specialist contents cover tailored to the tech industry. Enhancements include replacing incompatible software following a claim.
*Please refer to the policy wording for the full details of inclusions and exclusions of this cover. Contents and stock replacement costs are calculated differently. Contact our customer services team for more information.
What does small business contents insurance not cover?
- Damage caused by wear and tear, inherent defect, rot, fungus, mould, vermin or infestation. Or any gradually operating cause
- Electrical or mechanical breakdown
- Loss caused by fraud or dishonesty or any partner, director or employee of yours. Unless you notify us within 10 working days of discovery
- Damage to any item directly resulting from its own breakdown
- Amount of the excess.
Please refer to the policy wording for the full details of inclusions and exclusions of this cover. Contents and stock replacement costs are calculated differently. Contact our customer services team for more information.
What is business stock insurance?
Stock insurance can help pay for the replacement of supplies that are damaged or stolen. It’s included with contents cover. It can assist a business that needs to keep stock on its premises.
You might run a salon and require cover for bottles of product. Think colour, toner, shampoo or conditioner.
Run a small shop or work as a florist? A flood or fire could damage or destroy your stock. Insurance can help pay for replacements at cost price to you.
Business contents insurance: FAQs
Do I need business contents insurance if I work from a home-based office?
While you may have cover for your home contents, standard household policies might not cover work equipment. Additional insurance for your home-based business could be key.
Similarly, you might be an online retailer operating from home, rather than a physical store. In this case, you’ll likely need to store items at home. Adding business contents insurance cover could help.
It’s worth adding up the value of business items stored at home. Doing so could show how much it’d cost to replace them without cover.
How much does business contents insurance cost?
The cost of your business contents policy will depend on the:
- Cover limits you choose
- Items you insure
- Additional cover you decide to include.
Hiscox business insurance starts from £8.40 a month.
*Figures based on an average of all business insurance policies sold to at least 10% of our customer base between January 2023 and January 2024
Do I also need buildings cover?
This depends on whether you own the premises you’re working from. If you rent or lease your office, business contents insurance alone should be enough. That’s because your landlord should have insurance for the building. Check your lease contract to make sure.
But if you own the building, you might choose to combine cover for the commercial building itself and the contents within.
How can I pay for business contents insurance with Hiscox?
We offer a range of payment options for business contents insurance. These are:
- Debit card
- Monthly direct debit
- Annual direct debit.
Are my business contents covered if I use them outside my premises?
Certain items are covered for damage when temporarily away from your premises, within the UK, the Channel Islands or the Isle of Man, including while in transit. Like most cover for items of property, the damage must occur during your period of insurance. This cover does not apply to items which are normally used away from your premises, such as laptops, mobile phones and other portable equipment. You may need extra insurance for these portable items. Or if you use equipment while working in multiple locations.
You can add portable equipment cover, or ‘property away and in transit’ cover, to your business contents insurance. This offers extra protection for accidental damage, loss or theft when using kit on the go.
Another add-on that could be helpful is equipment breakdown insurance. This can step in if you face a sudden mechanical or electrical failure.
Does stock insurance account for seasonal uplifts?
Yes, you may be able to account for seasonal peaks when taking out business contents insurance with stock cover. Simply let us know the maximum amount at risk at your busiest time.
If your business experiences a boom in custom and stock levels grow, our unlimited policy changes can help. You can recalculate the total value of your stock and adjust the cover limit to meet your new requirements. Note that your premium may change as a result.
We offer seasonal stock uplift as standard for some professions. Get in touch to see what’s available to you.
When should I get business contents insurance?
Getting business contents cover isn’t usually a legal requirement. Yet it may become important as soon as you have a space and own equipment.
Say your business premises were affected by theft, flooding or a fire in your first weeks of trading. Could you afford to pay to repair damage and buy replacements without insurance?
Related articles and guides
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Many of your business contents could be considered assets. Learn what a business asset is with Hiscox.
What types of business insurance are there?
Contents insurance is just one type of cover that can protect your small business. Explore other types of commercial insurance.
Insuring your tech start-up
At Hiscox, we offer specialist contents cover for tech firms. Learn all you need to know about insuring your tech start-up.