Your laptops, stock, and office furniture aren't free... protect them
Fire, theft, flood, or vandalism, if your business equipment and stock are damaged or stolen, Business & Office Insurance replaces them so you can keep trading. Without it, you're paying out of pocket to replace everything.
What could go wrong
The office break-in
You run a 7-person creative agency. Someone breaks into your office over the weekend and steals 8 laptops, 2 monitors, a camera, and your coffee machine.
Replacement cost: $35,000*. You need these to work on Monday. Without insurance, that's coming from your cash flow, right when you can least afford it.
The water damage disaster
A pipe bursts in your office overnight. By morning, your carpet is ruined, your desks are warped, your stock is destroyed, and your server is fried.
Damage: $45,000*. You can't operate from the office for 3 weeks while it's repaired.
The fire that destroys everything
A fire starts in the building next door and spreads to your premises.
Your entire office, including equipment, furniture, stock, and records, is destroyed. Total loss: $120,000*. You need to set up elsewhere immediately to keep the business alive.
What this actually covers
Business Pack Cover
Business Contents cover usually includes
- Office equipment (laptops, computers, printers, monitors)
- Furniture (desks, chairs, filing cabinets)
- Stock and inventory
- Tools and equipment
- Portable equipment (laptops, phones, tablets used outside the office)
- Cash on premises (limited—usually $500-2,000)
- Documents and records (cost to recreate)
Building cover (if you own the premises):
- Structure and fixtures
- Renovations and improvements
- Permanent installations
- Damage to the building itself
Optional extras often included
- Portable equipment extension (laptops used off-site)
- Glass breakage
- Theft by employees (separate fidelity cover)
- Business interruption (lost income during repairs)
- Temporary relocation costs
- Tax audit costs (preparation for ATO audits)
When you need this
Pre-launch to first year
You need this when:
- You have equipment worth more than $5,000
- You're holding stock or inventory
- You're working from a commercial premises or co-working space
- You've bought laptops, tools, or equipment to run the business
- Your lease requires building insurance (if you're liable for improvements)
Growing and hiring
Your cover needs to increase when:
- You've bought more equipment for your growing team
- You're holding larger inventory levels
- You've moved to a bigger office with more furniture
- You've invested in specialised equipment or machinery
- Your lease makes you responsible for building improvements
Established and optimising
Review your cover annually:
- Update your sum insured when you buy new equipment
- Check depreciation—replace with "new for old" cover if possible
- Add portable equipment extension if the team works remotely
- Consider business interruption cover (lost income during repairs)
Common questions
Can I insure my home office equipment?
Yes, but check your home and contents policy first—it may already cover some business equipment (usually up to $5,000-$10,000).
For anything beyond that, you need separate business insurance.
What's 'sum insured' and how do I calculate it?
The sum insured is the maximum amount the insurer will pay. Calculate it by adding up the replacement costs of everything you own, including laptops, furniture, stock, and tools.
Don't underinsure; if you're 50% underinsured, you'll only get 50% of any claim.
What's the difference between 'market value' and 'replacement value'?
Market value pays what your 3-year-old laptop is worth today (maybe $500).
Replacement value pays the cost of buying a new equivalent ($2,000). Always choose replacement value, also called "new for old" or "replacement cost."
Do I need to list every item individually?
Not for general contents. You specify a total sum insured, and the insurer covers anything up to that amount.
However, for high-value items (equipment valued at over $10,000), you may need to list them specifically, including their serial numbers.
What if I work from home and my car?
You need a portable equipment extension to cover laptops and tools used outside your office.
Standard contents cover only work at your nominated business address.
Does this cover stock I'm storing at home?
Only if your policy includes stock at multiple locations. Most policies cover only your nominated business premises. If you're storing stock elsewhere, tell your broker.