Is my equipment covered?

Equipment cover does not usually come as standard with a business insurance policy. Typically you will be asked whether you want your equipment covered and to what level. There are different options available when it comes to covering your business equipment. You can have cover that covers equipment confined to your office or worldwide equipment cover which is useful for larger businesses with multiple sites.

It is still important to check the fine details if you opt into equipment cover because some things will be exempt or will require an extended policy. You can request to only cover specific items or change your premium according to the value of your equipment.

Bear in mind that business interruption cover is not the same as business equipment insurance. Business equipment does not cover any loss of income as a result of damage to your equipment. If you have business interruption cover this fills in for your resultant loss of earnings but not replacing or repairing the property itself. It would be advisable to have at least one or both of these types of cover if your equipment is a crucial part of running your business.