Building and contents insurance is a topic covered earlier in the Startup magazine, and will be covering in this article in more detail.
Building and contents insurance is an insurance policy taken on the contents of a business’s office and the content of the office. Despite the modern proliferation of online businesses, many business owners still operate out of bricks and mortar premises. If you fall into this category, it’s a good idea to think about building insurance for your businesses. Similar to home insurance, but with added codicils which protect you in the event of your losing revenue following an incident involving your premises; this is the perfect choice for companies in need of comprehensive insurance solutions.
Contents insurance can often be bought in conjunction with building insurance, but not always. This product is specifically designed to cover you in the event of your building contents being damaged or stolen. Contents insurance is not the same as product insurance – it covers everything contained within your business premises, which are detailed in the terms of your insurance agreement.
It is important for a business to have content and building insurance in order to recover the value of the business’s assets. If the building your business is in gets damaged, building insurance will help recover some of the costs to fix the damages to the building. Contents insurance will help recover the value of the goods in your business if they are stolen or damaged. An example of content you may like to insure could be computers, servers, or any other costly machinery. We recommend you discuss what to list on your content insurance with a lawyer, or insurance broker.
To find out more about content and building insurance, The Startup Magazine recommends taking professional guidance from someone with industry knowhow.
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