Understanding which cover extensions may be the best for your business
A brief description of each of the cover extensions we can obtain from insurers to correctly protect your business.
Contractors' All Risk
Provides cover for damage to property and also damage or injury to third-parties. Damage to property can include incorrect construction, renovation damage or damage to temporary work on sites. C.A.R. policies are typically taken out by both the contractor and the employer and may have others such as finance companies named in the policy.
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.
What is Covered? Your buildings, fixtures and fittings: including gates, fences, car parks, as well as underground cables and pipes. It may also include cover for stock and cash on the premises and in some cases it can also provide for seasonal stock increases free of charge.
Covers the cost associated with obtaining legal advice and/or the costs involved when bringing or defending a court case. The policy conditions and the amounts covered vary from insurers so check with your broker.
There are several different types of personal accident cover. Personal accident only, group accident, personal accident sickness and personal accident assault all with varying levels of cover. Speak to your broker to see which policy cover options are open to you. The cover may be included or obtainable as a stand-alone policy.
Plant and Machinery
Please see our dedicated page on plant and machinery insurance. Cover for hired-in or owned plant and machinery.
Covers the cost of replacement of employees tools which have been stolen, lost or damaged. The amount covered may be for a fixed amount and will depend on the insurer.
Equipment & Stock
The equipment and stock you use can be expensive to replace, so ensuring your sums insured covers the replacement cost of these items is essential. Typically equipment and stock will be covered under a contractors all risks policy.