Business Insurance For Equipment and Tools

Protect the tools & equipment that’s crucial for running your business

An overview of Business Equipment and Tools insurance

As a business owner, there are so many problems that you need to consider each and every day, to ensure that your business is always in the best shape. One of the most important things for most companies is their equipment – whether it’s a tradesmans’ tools, a cafe’s coffee machines, or a restaurant’s oven, every business has vital equipment that’s absolutely crucial to their ability to function and turn a profit. But what happens when this equipment fails, is damaged, or disappears – does your organisation have to stop functioning, or do you have a contingency plan in place in the form of commercial property insurance and equipment insurance cover? If you want peace of mind when it comes to your items, you simply have to invest in the right coverage policies; this way, you’ll be able to make a claim in the event that those vital items are out of use and your business is stuck in no man’s land. If you’re wondering how to choose the right business insurance policy, you’re in luck! Read on below to find out more about the different types of protection you can get for your company and how The Insurance Octopus can help you to get your organisation back on track in the event of equipment troubles.

What is Business Equipment and What Are The Different Types?

Let’s take a look at the types of insurance that you can use to keep your assets protected – there are lots of different options, so you’ll be able to choose a property insurance policy that’s ideally suited to your needs as an organisation. Of course, different companies are likely to require a different level of cover to each other – that’s fine, as we can source plans and policies for small businesses to larger corporations here at The Insurance Octopus. Depending on your industry, the things that you need to insure will differ – building firms require heavily on their machinery and tools, whereas office workers have a huge dependency on electrical equipment such as laptops and smartphones, so there are a lot of different things that business owners need to consider when searching for insurance for businesses. Damage for laptops and other items can be substantial, with replacement costs setting the business back by even more, so it’s massively important that you purchase cover for damage within your Business Equipment and Tools insurance.

The details of this type of cover can vary between insurance providers, so you need to be careful when reading the policy wordings for your plan. If you’re unsure of anything, just get in touch with the business insurance specialists here at The Insurance Octopus – we’ve got lots of experience of sourcing cover from office insurance to theft insurance and business contents insurance, so don’t worry about all of the jargon that you’d usually be faced with when you’re talking to our team. We’ll give you the facts and help you find the solution to your problem.

What This Insurance Policy Can Cover – The Tools, Equipment, & Cover

Up next, we’ll take a look at what exactly this type of insurance can help you with – some things are covered, whilst others may not be, so it’s important to know exactly what you are and aren’t protected against. If you’re ever unsure about your policies and coverage, always remember to ask your insurer – they’re the experts and will be able to give you the right answer! Here are the key things that you’ll be looking for your business equipment insurance to cover:

• Loss: In an ideal world, we’d never lose our valuable possessions, but here in the real world things do sometimes get misplaced, never to be seen again. This is particularly true for employees who travel a lot for their work where the item has an increased risk of being left on transport or in a different location. With a Portable Equipment insurance plan, these instances are covered, meaning the cost of lost items can be claimed should they ever be permanently misplaced.
• Damage: When it comes to damage, it’s all about the type of damage that the equipment has been subject to; accidental damage is covered by your insurance policy, but general wear and tear or damage as a result of an attempted theft may be eligible for a claim. Portable and handheld tools are usually the items that are most liable to be damaged due to their frequent use and movement, so you’ll want to make sure that your equipment is covered to the best level possible to avoid any interruptions for your business.
• Theft: Finally, theft is another thing that you, unfortunately, need to be protected against. It’s difficult to predict what may happen to your belongings when they’re not in your possession at every moment of the day, so having insurance that covers the items means you won’t be at a complete loss should your belongings ever be stolen. In recent years, incidents of tool theft have risen to a surprising level, so there’s never been a more important time to ensure that you’ve taken out comprehensive insurance against your crucial equipment.

Our Process: Choosing The Right Cover For You

At The Insurance Octopus, we try to make everything as simple as possible for our customers – finding the right insurance can be a tricky task, but with the right advice and guidance, you’ll be able to find effective cover at a great price. We do this by ensuring that every business is put into contact with an agent who’s a specialist in their sector; by doing this, you can be sure that you’re dealing with an agent who understands your business and your requirements when looking for a new insurance policy. In addition to this, our team are very helpful during the claims process – get in touch with us when you want to start making a claim on your policies and we’ll guide you through the process and get your business back on time as quickly as possible.

No matter how big or small your business is or could potentially be in the future, we’re able to source insurance packages that are tailored to the needs of every company. This means you’ve always got an insurance package that’s relative to the size of your operation. In total, we’re able to find you insurance on up to £10,000 worth of tools and equipment, so you’ll have comprehensive cover that’s substantial enough to cover all of your vital equipment.

Why Choose The Insurance Octopus To Find Your Insurance Policy

The Insurance Octopus are specialists when it comes to business insurance – we’ve got years of experience within our team and we’ve worked with companies in a wide range of industries, so you know you’re in safe hands when you take out an insurance policy through us. On top of this, you’ll also be blown away by the service that you receive; our team is knowledgeable and friendly, the policies we source are comprehensive, and our claims system is really easy to use, what’s not to love? On top of this, we’ve also got lots of benefits that are exclusive to our customers! Octopus customer rewards are a great way to add extra value to your insurance plan – we give our customers rewards as a thank you for choosing our service, which can be anything from discounts to offers and perks!

With The Insurance Octopus, you’ve also got peace of mind over your policy pricing – where many insurance providers may surprise you with mid term fees, we’re completely upfront with our costs. This means that what you see is what you get; there are no shocks or surprises in the form of hidden fees further down the line.