Business contents insurance is an aspect of business insurance (/business-insurance/), or commercial insurance that protects the business equipment and stock that a company keeps on location from theft and accidental damage. Almost every business has equipment and/or inventory they sell to customers. Losing something very valuable can set any business back a lot, especially if they are just starting out. Business contents insurance is an added layer of protection, ensuring that even if such an event occurs, your business will continue to run smoothly.

Any business owner with valuable possessions at their commercial property could use the coverage provided by business contents insurance. We trust that you are doing everything in your power to protect your most valuable items, but no matter how careful you are, you can't lower the chances of something happening to zero. There's always the chance that a sudden accident could take out a machine, an expensive piece of equipment, a large amount of stock, or another expensive item that your business possesses. Business contents insurance would act as the backup if something were to happen to your most valuable equipment.

Please note that although a business contents insurance policy will provide financial protection in most cases where your contents are harmed, there are some situations where it will not cover you, sometimes due to another optional policy covering the situation. These situations include:

• Malicious damage done intentionally by the policyholder.
• Anything that breaks down as a result of wear and tear over time.
• Machine breakdowns. These are instead covered by equipment breakdown insurance.
• Anything specified as not being covered in the policy itself.
• Company vehicles, as they are covered by commercial auto and fleet insurance.
• Damage from a cyber-attack, as that is covered by commercial cyber insurance.
• Liability claims, as these are covered by commercial general liability insurance and errors and omissions insurance.

Please note that these are not the only situations in which your business contents insurance will not cover you.

Tracking your inventory for insurance (/news/importance-of-inventory-tracking-for-insurance/) can be solved in a couple of ways. If you're a retailer, you almost certainly have some inventory tracking system that can be used to prove what you have if you ever face a loss. Otherwise, you'll need some inventory sheets and receipts to show evidence of certain items being destroyed. You should keep very close track of everything about an item, including brand, year made, and name/title, to get an accurate replacement value. Spreadsheets can be a good way to keep track of this if you have a small business, but dedicated software is often a better choice if you have a larger quantity of items. Regardless of which you choose, you should always have at least two digital copies (one stored locally, one on a cloud) and one physical copy of all this information.

Yes. Items your employees use for work-related purposes are covered if they are taken off company property. For example, if one of your employees works from home and uses a company laptop, that laptop will be covered under your business contents insurance policy. However, there may be some circumstances where you might be required to get special coverage for a specific item. If you would like to know if a specific item will be covered or would like more professional advice related to your insurance policy, please speak with your Morison Insurance broker.