Insuring your business premises is simple

You’ve made a significant investment with your business premises, so it is important to make sure it is properly insured. Whether it is a pub, shop, office or restaurant, the basic covers are the same – just tailor them to your individual business requirements and add them to your business insurance policy.

Buildings insurance

You can insure your premises against damage to the building from disasters such as fire and flood. If you rent your business space, you are unlikely to need buildings insurance; however, you should contact your commercial landlord to make sure.

Contents insurance

You can insure the contents of your business premises against damage, destruction, loss or theft. A policy will pay the cost of repair if any of your business possessions are damaged, or pay for replacements if lost, destroyed or stolen.

Fixtures and fittings cover

While contents insurance covers your possessions, you may also choose to take out fixtures and fittings insurance to cover fixed items such as shelving, kitchen units, carpet or flooring, counters, fixed display cases etc.

Shop front cover

If you own a retail outlet or restaurant, you may wish to insure the front of your premises. This insurance covers things like windows, awnings and signage.

Stock cover

If you keep stock on your premises, it is sensible to insure it separately from your contents insurance. The value of stock can run to thousands or tens of thousands of pounds, so if it was damaged, destroyed or stolen, your stock cover would pay the cost of replacements.

Details to look out for

• Don’t confuse your market value with your rebuild value on your buildings insurance
• Contents insurance covers items owned by you or for which you are responsible that are contained within the business premises.
• Fixtures and fittings insurance only covers items that are permanent, non-movable fixtures.
• If you rent the premises, check which insurance covers you need and which are already covered by your rent.