Description of the cover options listed above.
Not everyone is a seasoned business owner with a wealth of insurance knowledge so, in order to help those who may be just starting out, here is a brief description of the cover options you saw above.
All risks premises only
Covers you automatically against all risks unless stated in the exclusions which should be made clear to you before taking out the policy. All risks will be covered at the address you do business from that is named on your policy document.
All risks on specified property
The same cover as above but for specified properties this is cover most mobile business should consider. There is also geo-location all risks which would cover you for the whole of England or Europe if you do events etc.
Material damage at the insureds premises only
After a natural disaster or a forced entry there is often a lot of damage to your property and this is often covered by material damage insurance.
If your business needs to close after a disaster like a flood or a fire, perhaps even after a forced entry business interruption insurance covers the shortfall in your business' income.
Money on Premises
Covers money held on your premises such as cash floats for your soft play food counter. Insurers will often place a limit on the cash amount covered.
Goods in transit
This will cover stock and equipment that is being transported from point A to point B. There may be exclusions such as equipment must not be left in the vehicle overnight. Please speak to your broker for more details.
Covers emergency call out to fix or replace damaged windows and door glass.