When do I need home insurance for my business?
Everyone is familiar with home contents insurance, but did you know that there is also a business contents insurance for your company? As a business owner, it may be wise to take out contents insurance. This way you can be sure that your business contents are properly insured in case of damage. But when do you actually need contents insurance for your business?
Business contents insurance for your company
Actually, in insurance terms we do not speak of business contents insurance but of inventory insurance. If you have your own business, you probably have a lot of inventory. It depends on the type of business, of course, but you can think of desks, office supplies and perhaps certain machines. To make sure that the inventory of your business is insured in case of damage, you can take out inventory insurance. This way you are insured for damage caused by burglary, storm or fire.
What does business contents insurance cover?
When it comes to business inventory, insurers distinguish between inventory insurance and property insurance. Inventory includes all items that you use in your business to practice your profession, such as office furniture, laptops, machines and other supplies. You can take out inventory insurance for these items.
Goods means your trading stock. These are all the raw and auxiliary materials that you use to make your end product, such as semi-finished products, cleaning agents, fuels and packaging materials. They are all the products that you sell or consume in the making of the final product.
Why take out home contents insurance for your business
Running your own business often involves a lot of money. So it is not surprising that you like to save on costs. But precisely because there is so much money in your own business, it makes sense to take out home contents insurance. What if a fire breaks out and most of your business contents go up in flames? Or what if there is a break-in and your laptops and other expensive electronics are stolen or damaged? If you are not insured, the financial consequences can be severe. This is always annoying, of course, but it can be particularly challenging for start-up companies. They often do not have a large buffer to absorb such costs. Moreover, you want to get back to work quickly, so that the work does not remain idle for too long and the losses do not increase. With contents insurance for your business, you are insured for many of these damages.
Difference between private contents insurance and contents insurance for a business
The difference between private home contents insurance and home contents insurance for a company is in the piece personal and business. With a private contents insurance you insure your personal belongings in your home. With contents insurance for your business you insure the inventory/goods of your business.
Do you have a home office as a freelancer? Then your private home contents insurance will usually also cover a part of your business inventory. However, this is subject to a maximum amount. This maximum amount is often reached sooner than you think, while the costs can mount up considerably in case of damage. Therefore, it may be wise to take out business inventory insurance for your business.
Take out contents insurance for your business
Need to get contents insurance for your business? Then Alpina is the right place for you. With our online comparison tool you can easily compare household insurance on price and content. By comparing you can find out which insurance suits you and your company best. With the right insurance, you can be sure that your business property is properly insured in case of damage.
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Calculate the premium for inventory insurance online!
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