Property Insurance You May Need

Business property insurance is a vital component of your business insurance package. This insurance covers a range of aspects associated with your business with the exact requirements determined by the nature of your business. Types of cover you may need include:

Material Damage Insurance covers the physical assets of your business against loss or damage caused by either a range of specified hazards such as fire, storm, flood and theft or a wider range of covers known as ‘all risks’.

Typically the physical assets include your business premises and its stock and contents, including computer equipment and plant and machinery.

Business Interruption Insurance provides financial compensation if your business suffers loss of income or profit following damage insured under your material damage insurance e.g. a fire or flood.  For example, it provides for loss of income or profit if rebuilding or repairs need to be carried out.  It also takes account of the additional expense involved in moving the operation into short-term alternative premises.

Loss of Money Insurance covers business money that is lost or stolen, from your business premises, in transit and from yours, a director’s or an employee's home.

Goods in Transit Insurance covers loss or damage to your stock and business contents whilst in transit within the UK in your vehicle or when sent by carrier, up to specific limits.

These are just some of the insurance covers available under our commercial business insurance product.  Contact your local Cherrypicked Insurance Broker to find out more and understand exactly what property insurance you need.

Last reviewed 01/2010

To talk to an expert in your area and get a quote, contact your local insurance broker.