Buildings Insurance covers damage to your business buildings. This damage might occur because of fire, floods, water damage, lightening strikes and earthquakes.

The amount of buildings insurance taken out should cover the cost of rebuilding your business premises and include professional fees and the cost of clearing the site.

Contents Insurance covers the contents of your building including damage to and/or theft of any stock or business equipment.

Stock should be covered for cost price (the price without profit) and may needs to account for stock fluctuation at certain times of the year. For example, more stock being present on site just before Christmas.

Business equipment can be insured on ‘indemnity’ (where wear and tear is taken into account when settling claims), or ‘replacement’ (where stolen, damaged or irreparable items are replaced with a new one).