Business Goods and Equipment
Business goods insurance or business equipment insurance is included in many travel insurance policies and relates to items used by you and which belong to you in support of your business activity. These will include:-
Office equipment which is portable by design including, but not restricted to, personal computers
This cover is automatically included under some levels of cover and you would need to check to ensure that you have the level that you need. It does not extend to cover any Personal liability where this is in pursuit or any trade or business.
For a claim to be made under this section of the policy, any business item must be owned by you and not hired, loaned or entrusted to you.
In today’s world many travellers travel for business or continue to work when on holiday. To have this cover is an absolute must as business equipment can be very expensive to replace or repair if repairable. Typically house insurance policies will not provide business cover but for peace of mind check for the right level of cover that you need that will also include your business equipment insurance. Check carefully for any excess that may be payable and that you are willing to pay this should you need to make a claim. Also check that the cover selected, will be sufficient for your needs.
Should you have any other business goods insurance, then any claim will be equally shared with this policy.
Any claim presented under the business equipment insurance will be subject to wear and tear and depreciation. It is always wise to check your policy terms and conditions as this will show details of the safety precautions needed to safeguard your business goods and equipment at all times.