Business contents insurance quotes
Compare business contents insurance to find a policy that’s right for you.
What is business contents insurance?
Business contents insurance is a type of business insurance that can protect the possessions and equipment in your work premises. It’s also known as commercial contents or business assets insurance.
Whether you run a hair salon, coffee shop or office, you’re likely to have items that would be expensive to replace if something happened to them.
A typical business contents insurance policy will cover your workplace against the risks that fire, water damage and theft can pose to your furniture, tools and equipment.
When might I need business contents insurance?
There are a number of scenarios where business contents insurance could come in handy. For example:
- Your business premises gets flooded or destroyed in a fire and you have to replace everything inside
- Your shop gets broken into or vandalised
- Vital equipment gets damaged by a burst pipe and you need to replace it quickly
- Valuable stock kept on the premises is stolen
- You use expensive or specialist equipment that is difficult to replace.
Incidents can happen at any time. Business contents insurance gives you peace of mind that you’ll be able to get back on track should the worst happen. Although business contents cover isn’t a legal requirement in the UK, it is useful to have.
If you’re trying to decide if you need business contents insurance, it’s worth adding up the value of your business assets to see what it would cost to replace them. Then you can weigh that up against the cost of insurance.
What does business contents insurance cover?
Standard business contents insurance will typically cover items kept on the premises, not assets held elsewhere.
It should offer financial protection against damage or loss caused by fire, flooding, storm damage or theft to:
- Fixtures and fittings – like your flooring, lighting or the equipment in your office kitchen
- Furniture – like desks, chairs and shelves
- Office equipment – such as computers, printers and modems
- Manufacturing equipment and tools
- Any staff or client belongings on the premises.
Business contents insurance may also cover stock or even cash left on the premises. Check the policy details carefully to make sure you’re getting an appropriate level of cover for your business needs.
Policies vary but, generally, business contents insurance won’t cover you for any damage caused by general wear or tear.
What should I look for when choosing a business contents insurance policy?
Before choosing a commercial contents insurance policy, here are some questions to ask yourself:
- Should I combine my business insurance?
You could buy business contents insurance only, as standalone cover, but it may prove more cost-effective to purchase it alongside other types of commercial cover. For example, a comprehensive business insurance package could also cover buildings, public liability insurance, business interruption insurance and employers’ liability insurance – which is a legal requirement if you employ someone. Employers’ liability insurance could cover you if one of your employees becomes ill or is injured as a result of working for you. If you employ one or more people or are a limited company with multiple directors, it's a legal requirement to have cover. If you're not a limited company, it's not a legal requirement to have employers' liability insurance if the employees are immediate family members, though if a policy is in place it would still cover immediate family members working for you. - Do I want ‘new for old’ cover?
When you’re comparing quotes, check the policy terms carefully to see if you’ll only be covered for the initial purchase price of your items – called indemnity contents insurance – or if your insurance will pay out for a new equivalent. - Is there a claim limit?
There’s normally a cap on the maximum amount your insurance will pay out per claim. Make sure it will cover you for large-scale loss, such as a flood. If you need to insure stock, check it’s included in the policy. - How much business contents cover do I need?
The most important thing is to have an accurate idea of the value of your assets and stock, so you can make sure you have adequate cover. You don’t want to overpay for cover you don’t need, or underestimate and end up out of pocket.
How can I compare business contents insurance quotes?
Start a quote with us and we’ll help you find competitive deals for the different types of business insurance you might need.
Start a business insurance quoteHow much does business contents insurance cost?
The cost of business contents insurance depends on the value of the assets or contents you want to insure. It also depends on whether you want cover for the purchase price or a new equivalent. The industry you work in may also factor into the price – for example, if you want to insure specialist or high-value equipment.
Insurance providers will also consider your claims history and any ongoing disputes.
To find the right cover for your business needs, it’s a good idea to compare several quotes so you can find cover at a price that works for you.
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What our expert says...
“Storms and flooding, in particular, seem to be hitting our headlines with increasing regularity. Business contents insurance gives you peace of mind that you’ll be able to get back on your feet if the worst happens and your business equipment, furniture or stock is damaged, lost or stolen.”
- Mubina Pirmohamed, Business and landlord insurance expert
Frequently asked questions
What if I work from home? Will my home contents insurance cover me?
Chances are you already have home contents insurance, but you’ll probably need to amend your policy so that it covers work-related tools and equipment if you work from home.
You’ll also need to tell your insurance provider you’re running a business from home. Not doing so could invalidate your policy. Call your insurance provider to see whether they can extend your home policy, or if you’ll need a separate one.
Do I need a specialised business contents policy?
Some policies are specialised to cover different industries, such as shops or surgeries, so this might be something you want to look into. You may also need landlord insurance if you rent out a property.
Will business contents insurance cover stock and equipment in storage?
It’s unlikely that your business insurance will cover items stored away from your business premises or home. If you want to keep items like stock or tools in a storage facility, you may need to get a standalone policy that covers business contents storage.
Can I insure my business contents and stock on the move?
Most standard policies will cover specific items while they’re temporarily offsite – for example, if you’re taking products to an event or exhibition. They should also be covered if they’re taken away for maintenance and cleaning or are in transit.
Many standard policies won’t cover items like laptops, gadgets and wearables when they’re away from your business premises. You may need to take out a standalone policy or add ‘all risks’ cover to your business contents insurance.
If you run a mobile business, contents insurance may work a little differently. If you’re always on the move, talk to your insurance provider about what cover you need.
Is it cheaper to combine my business buildings and contents insurance?
Some insurance providers offer a discount if you buy a combined policy through them. However, it’s important to make sure you have the right level of cover. It’s a good idea to compare combined policies with separate buildings and contents cover, to see which might offer better value for money.
Is business contents insurance tax deductible?
Yes, business contents should be an ‘allowable expense’. This means you can deduct it from your declared income when filling out your Self-assessment tax return.
Does business contents insurance account for seasonal peaks?
You can usually tailor your policy to account for seasonal upturns by letting your provider know your ‘maximum amount at risk’ during your busiest time.
You’ll need to take busy times into account when you’re estimating the amount of cover you need for your stock. For example, Christmas or just after a big delivery when you might be holding more stock than usual.
