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Business Contents Insurance

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Business Contents Insurance NZ

Business contents insurance is a specific type of insurance policy that protects the physical assets within a business premises. This includes items like furniture, machinery, computers, stock, and other valuable business assets. Think of it as a safety net for the things inside your business property that keep your operations running smoothly.

Why is business contents insurance important?

Imagine you walk into your business one morning and find that a flood or fire has damaged everything inside. Not only would you face immediate disruptions, but replacing these items could cost a lot. Business contents insurance ensures that in such unfortunate events, you’re not left paying entirely out of pocket to get back on track. It provides peace of mind, financial security, and aids in business continuity. Additionally, considering business interruption is crucial for protecting against operational disruptions and financial losses following a disaster, ensuring coverage for premises, contents, and stock during such interruptions.

It’s crucial to have cover if your business:

  • Owns expensive equipment
  • Holds valuable stock
  • Operates from a physical location
  • Keeps money on premise
  • Relies on specific tools

What does business contents insurance cover?

Business contents insurance covers losses involving your business contents. This includes:

Physical Damage

This coverage is essential for businesses. It provides a safeguard against unexpected damages to your business contents, be it from natural disasters like earthquakes or unintentional mishaps in the workplace. Instead of bearing the full cost of repair or replacement, your policy steps in, helping to significantly minimize your out-of-pocket expenses.


Business contents can be a prime target for theft, especially if it's high-value or easily resellable. With theft cover, you're protected against financial losses if someone unlawfully takes your business stock or equipment. It ensures that you can replace stolen items like stock and tools without drastically impacting your business finances.

External Disasters

Sometimes, events beyond our control, such as floods or fires, can jeopardize your business stock, premise, tools, equipment and other contents. This aspect of the policy comes to the rescue in such scenarios. It covers the repair or replacement cost resulting from damages caused by these external calamities.

How much does business contents insurance cost?

Business contents premiums are calculated on several different factors including:

  • Limit of cover
  • Type of industry
  • Region of NZ
  • Claims history 
  • Location of premises

Business contents insurance in NZ typically costs between 0.3 – 1% of the value of your business contents per year. 

Which businesses need business contents insurance?

Any business with tangible assets inside a physical location can benefit from business contents insurance. From a small business like a cafe with kitchen equipment and seating to a large retail store with expensive inventory – protection against common risks is essential to protect businesses. It’s also crucial to consider all potential liability, not just those related to physical assets, as business contents insurance may not cover all the liabilities related to a small business. This would typically be covered by public liability, statutory liability and other liability policies.

Yes, you can choose a coverage limit based on the value of your business contents. It’s essential to insure your assets accurately to avoid under-insuring, which can leave you with out-of-pocket costs. Another thing to note is that most policies provide cover for the full replacement value of plant and equipment. This means that you you need to calculate the cost of replacing the items as new or you will be under insured. For example it’s typical for tradesmen to insure an arbitrary amount like $10,000 for there tools. When they claim and add up the cost of replacing these all as new, it is typically 2-3x higher than this.

Some policies may offer coverage for items temporarily removed from the premises or permanently kept away from the premise, but there are conditions and limits. All insurers often different policy limits and wordings so it is essential to check what your business insurance covers. We can help advise on this.

Top industries that need business contents insurance

In New Zealand, business contents insurance is a safeguard for many industries against losses.

How do I get proof of business contents insurance?

You can usually get proof of business contents insurance same day when you purchase insurance through Gerrards. Once you have purchased your business insurance policy, the insurer will provide you with a certificate of insurance. This document serves as proof of your coverage and details the terms of your policy, including the start and end dates, the covered risks, and the insured amount.

Acquiring a business contents insurance policy from traditional insurance brokers may require a few weeks, a delay that could create problems for people or businesses who need instant insurance proof.

To obtain contents insurance cover promptly, contact us. We may require you to provide some fundamental details about your business, such as:

  • The name of your business

  • The nature of your business activities

  • The total number of employees

  • Predicted annual income

  • Years of experience in the industry

What does business contents insurance not cover?

Business contents insurance generally does not cover:

General Wear and Tear

Over time, items degrade. Insurance won’t provide cover this natural deterioration.

Unreported Theft

If a theft occurs and isn’t reported to the police, it might not provide cover.

Specific Natural Disasters

Some policies might exclude specific disasters such as earthquakes unless additional coverage is purchased.

Items Outside Coverage Limit

If you under-insure your contents, the policy might not cover items above the set limit.

Other common questions about business contents insurance

Yes, most policies allow adjustments. Always inform your broker about business changes that might affect your coverage needs in New Zealand’s business environment.

After a business contents claim is made in New Zealand, the insurance company will assess the damage/loss and determine the payout based on your policy terms.

While physical devices like computers might be covered in New Zealand’s market, data loss or data breaches often requires a separate cyber insurance policy.

Business contents insurance typically covers items within the premises in New Zealand. Some policies do have a small limit built in however this may not the risk adequately. For transit coverage, consider goods in transit insurance.

This depends on the policy in New Zealand. Typically a material damage or business contents policy will provide cover for any structure or building noted.

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