Office Contents Insurance

What does the office contents insurance policy cover? Your stock should be insured for its cost price without profit. Plant and business equipment can be insured on either a 'replacement as new' or an 'indemnity' basis. If indemnity is chosen, wear and tear will be taken into account when settling any claims.

Engineering insurance provides cover against electrical or mechanical breakdown for most machinery, including computers. By law, many items of plant such as boilers, lifts and lifting machinery must be inspected regularly by a qualified person. Insurers can arrange to provide this service.

General contents are usually covered against theft providing there has been forcible and violent entry to or exit from the premises. Damage to the building resulting from theft or attempted theft will also normally be covered.

Theft by employees is usually not covered – cover against employee dishonesty can be arranged by a sepatate policy.

Money insurance is on an 'all risks' basis and covers cash, cheques, postage stamps and certain other negotiable documents. Different limits will apply to money on the premises in and out of business hours, in safes, at the homes of directors or employees and in transit. There may be requirements in the policy relating to safe keys and the method of transit.

Personal assault cover may be included, which will provide compensation for you or your employees following injury during theft or attempted theft of money.