Public liability insurance is there to cover you if a member of the public sues your business for causing an injury or damaging their property.
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Protect the equipment your business relies on
Business contents insurance makes sure you’re covered if your kit gets lost, damaged or stolen.
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What is business contents insurance?
Business contents insurance, also known as business assets or commercial contents insurance, is a policy designed to protect your business against loss, damage, or theft of equipment and other essential possessions. This coverage safeguards your business in the event of incidents like fire, vandalism, flooding, and accidents, ensuring you're financially protected from unexpected disruptions.
Whether it’s office equipment, furniture, or stock, business contents insurance helps minimise the impact of potential losses, keeping your business running smoothly.
How does business contents insurance work?
Business content insurance provides compensation if you need to replace something that has been damaged or lost.
It works in a similar way to home insurance. When you apply for cover, you’ll need to work out exactly what needs to be protected and how much it is worth. If you aren’t accurate during the application process, you might find you aren’t covered when you need it most.
It’s a good idea to scrutinise the policy before signing up, as you’ll want to make sure it includes all the protection you need. Not every policy is the same, which is why a tailored business contents insurance policy works well to ensure maximum protection.
If you make a claim, you'll need to give details of what's happened and the impact on your business. Your insurance provider will then assess the claim and you'll find out what compensation can be offered.
SMEs that bought business insurance[1]
49%
What do some business contents insurance policies cover?
Covered
Disasters such as flooding or fires
Theft
Accidental damage
Not covered
Wear and tear
Some policies exclude damage caused by animals
Damage you or your employees cause through negligence
Should I get business contents insurance?
It’s not a legal requirement to have business contents insurance, but that doesn’t mean you shouldn’t take it into consideration.
If you aren’t sure whether to get business contents insurance, then a useful exercise is to calculate how much you could lose in stock or equipment if something went wrong. This exercise will highlight whether you can afford to replace it and get your business up and running again.
Business contents insurance normally covers items like your office equipment, furniture, tools and personal possessions on your premises. Some insurers may cover portable items like phones and laptops even if these are lost, stolen or damaged outside of the business premises.
How can I choose the right business contents insurance?
Before choosing your business contents insurance, consider the following steps...
Check the value of your assets
The first step is to establish what you want to cover and its value as this will mean you get adequate cover. If you undervalue your items, you could miss out on cover and there’s no point overpaying for insurance you don’t need.
Combine contents cover
Once you know what equipment to cover, it’s worth exploring which other types of insurance you need to make sure you can get a policy that protects you from all the different risks you face.
Compare policy terms
It’s important to compare policies to make sure you are getting the best insurance for your needs. Don’t just rely on the cheapest, as this might mean you are missing out on cover you could need in the future.
How much does business contents insurance cost?
The cost of business contents insurance will depend on which insurer, limit and excess you choose.
Your quote will also take into account the size of your business, the type of business you run, your annual turnover and claims history.
The table shows typical monthly premiums for business contents insurance.
| Business | From | To |
|---|---|---|
| Hair and Beauty | £2.67 | £10.18 |
| Healthcare | £2.49 | £17.68 |
| Media | £2.77 | £15.72 |
| Professional Services | £2.77 | £13.74 |
| Retail | £2.74 | £11.85 |
| Tech | £2.77 | £15.72 |
| Tradespeople | £2.67 | £10.39 |
Superscript - 10% of Superscript customers paid this much, or more, between April and June 2023
Superscript - 10% of Superscript customers paid this much, or less , between April and June 2023.
Other types of insurance to consider
Public liability insurance
Public liability insurance is there to cover you if a member of the public sues your business for causing an injury or damaging their property.
Professional indemnity insurance
Professional indemnity insurance is designed to protect businesses that offer services to others.
Employers’ liability insurance
Employers' liability insurance provides cover against legal liabilities and costs that arise if your employees become ill or injured due to their work.
Goods in transit insurance
Goods in transit or GIT insurance offers protection for goods that are being moved from one location to another.
Other types of insurance to consider
Public liability insurance
Professional indemnity insurance
Professional indemnity insurance is designed to protect businesses that offer services to others.
Employers’ liability insurance
Employers' liability insurance provides cover against legal liabilities and costs that arise if your employees become ill or injured due to their work.
Goods in transit insurance
Goods in transit or GIT insurance offers protection for goods that are being moved from one location to another.
Learn more about our business insurance partner
We qualify, quantify and offer insurance using data, analysis and technology, and we serve a wide range of business types — from dog walkers and dieticians, to landlords and locksmiths. Enro Ltd t/a Superscript is authorised and regulated by the Financial Conduct Authority.
Why Superscript?
We make it quick and easy to find, buy and manage your business insurance.
Customisable cover for 1000s of business types
Superscript will help you find the different types of cover that are right for your business.
Adjust your cover as you grow
Amend your cover with no admin fees, to address your evolving needs as your business grows.
Simple claims process
Our customer portal allows you to enter the details we need to get your claim processed.
FAQs
Is business contents insurance a legal requirement?
Business contents insurance is not legally required, but it’s highly recommended for protecting your assets. While the law doesn't mandate it, going without this coverage can lead to significant financial risks if your equipment, stock, or property is lost, damaged, or stolen. Having business contents insurance in place ensures that your business can recover more quickly and avoid costly disruptions, safeguarding your operations from unforeseen events.
Will business contents insurance cover stock and equipment in storage?
Business contents insurance typically doesn’t cover stock or equipment stored off-site or in locations other than your primary business address. However, some policies may allow you to add coverage for storage spaces. It’s important to review your policy details to understand what’s included. If storage isn’t covered, you may want to consider purchasing standalone insurance specifically for items stored off-site, ensuring full protection for your business assets.
Is business contents insurance tax deductible?
Yes, business contents insurance is typically tax deductible, as long as it’s used exclusively for business purposes. This means you can subtract the cost of your insurance premiums from your taxable income, potentially reducing your overall tax liability. However, it's important to consult with an accountant or tax professional to ensure you're complying with tax laws and maximising any potential deductions for your specific business situation.
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References
1. Money UK Business Insurance Statistics 2024 49% of UK SMEs having some level of business insurance