Business Contents

Business Contents would include items such as computers, laptop/notebook computers, software, printers, scanners, fax machines, photocopiers, typewriters, telecommunication equipment and office furniture owned by the insured or items for which the insured is legally responsible. These items are kept at the risk address as stated in the schedule. if there is more then one location then each location has to be stated on the policy.

This can also be referred to as Office Contents. The policy can also show this coverage under Property of Every Description (POED). Your leasehold improvements and betterment costs need to be insured under contents.

Be aware that certain damages will not be covered by the usual business insurance. If you have refrigerated goods, telephone systems, computers, air conditioning systems or other electronic equipment you could have a claim due to an underground power surge. Not only the damage to the equipment but loss of income coverage is available upon request. Your situation needs to be reviewed and the risk weighed. Once you know your options you can choose risk avoidance, risk control or insurance.

You should review your policy with your insurance adviser on a regular basis. If you have purchased new office equipment then you may have a certain grace period for newly acquired equipment, but it is prudent to advise your agent or broker of the details in a timely manner.