Business Equipment Insurance covers you for loss of property or equipment that you use in the course of business.
It is vital that you are able to continue on with working even when your equipment can breakdown often at the worst of times, Business Equipment Insurance can be included in many insurance packages ensuring that you can carry on with the minimalist of effects of what could have otherwise been a client and potentially large upset to trading.
Having your equipment insured can give you the peace of mind to know that in the worst of circumstances you will be able to count on the tools that let you keep in business.
Property covered could include but not be limited to:
Fire, Storm, Flood, Earthquake, Riots, Civil Commotion, Malicious persons (not just those who wish to steal goods), etc.
When it comes to insuring your equipment a more all risks cover which can be worldwide (always check your policy wordings for clarity of what you actually have insured and the conditions to which they have attached).
All risks cover can be applied from everything from stopwatches to laptop computers, once these leave the working office they are protected anywhere in the world from typically every eventuality.
How much Equipment cover do you need?
A critical factor is not to Under-Insure your assets, where equipment is concerned you should take to total replacement cost fo your equiment and as you assess this figure your sums insured should not be far off, should you under insure your equipment you may well be left to pay the difference yourself at the worst moment, this is why your total insurable goods should sit around the same level as your sums insured.