How can I secure my building and equipment?

Business executives should know that more often than not, not everything is included in their business insurance package.

This may look confusing with certain insurance packages such as shop insurance, restaurant insurance, takeaway shops insurance, pub insurance or small hotel insurance. These packages usually do not include what may seem as the priority: insuring the business premises. In order to be protected against any damage on the shop or factor or warehouse, a separate building insurance has to be subscribed.

Interested business representatives should note that building insurance covers damages to the structure of the building like the walls, roof and floors, but may or may not include coverage of damages to fixtures and fittings. Events typically covered by building insurances include storms and floods, vandalism, car and lorry collisions, water damage from leaking pipes, falling trees, fire, smoke, explosions and oil leaking from your heating system

Businesses willing to insure their equipment in a very broad sense have several options.

They can either choose a tool insurance, a business equipment insurance, a business contents insurance, a business stock insurance or a goods in transit insurance. Note that these insurance products do not exactly refer to the same kind of equipment, so businesses will more often than not need to subscribe to more than one of these policies. As opposed to the first section of this article, it is important to know that contrary to what one might think, these policies do not include building insurance.