Property Damage Insurance
This is the main type of property insurance and is used to insure the physical assets of the business including buildings, tenant’s improvements, machinery and stock against a wide range of damage such as fire, theft, storm or escape of water.
To cover theft of money from the premises, in transit or from the home of an authorised person.
Goods in Transit Insurance
This covers damage or theft of stock from your own vehicles or from carriers’ vehicles, usually just within the UK. Marine Cargo insurance is normally required for overseas transits (see below).
Marine Cargo Insurance
This is similar to goods in transit but covers stock travelling overseas by land, sea or air within Europe or further afield. Special arrangements may be necessary for exports to high risk countries.
This is more relevant to larger installations rather than a smaller business with a few computers. It provides cover not only for damage to equipment but can also include breakdown and consequential losses.
Contract Works Insurance
This normally forms part of a “contractors combined” insurance and covers damage to building works and installations during construction plus plant and materials owned or hired by the contractor. It is not just for builders but can be useful for many other contracting trades where expensive plant or materials are involved.
The use of pressure vessels, lifting equipment, power presses and extraction systems entails regular compulsory inspection. The insurance can also cover breakdown of equipment, fragmentation and damage caused to surrounding equipment.
To cover damage to fixed glass and sanitary fittings.
Deterioration of Stock Insurance
Normally frozen foods but can include other temperature sensitive goods such as vaccines. The insurance covers loss of stock as a result of failure of the freezer or refrigeration unit.
As independent insurance brokers, we give advice about and arrange all these types of insurance for businesses in Bromsgrove, Redditch, Worcester, Droitwich, Evesham, throughout Worcestershire, Warwickshire and beyond.
If you would like to discuss any requirements you may have without obligation, please call us on 01527 834696 or CLICK HERE.