Insuring for Property

Your business location is the heart of your commercial activities. It’s where your staff are based and your business assets including stock and equipment are stored.

Even if you can “work from home” or can generate revenue away from your location, your business can still incur significant financial loss following damage to your property.

Your property policy can be tailored to provide the cover you need, including:

• Building
• Contents and equipment
• Stock
• Tenant improvements such as fixtures and fittings

Property insurance covers physical damage caused by fire and perils. Optional covers including theft, money and machinery breakdown can be added to the policy. If required, portable items such as laptops can also be covered while away from your location

Tempo Tips

• How much would it cost to re-build and buy new equipment? In 2022, construction costs increased by 11 percent (CoreLogic)
• Are you covered for floods? Usually, flood cover for commercial property is an optional extension
• Does your lease make you responsible for insuring the building on behalf of the landlord?