What is General Property Insurance?
General Property Insurance will cover the portable property used in your business, anywhere in Australia – not just at your place of work. Cover provided will often be for accidental loss, damage or theft.
Items insured may include:
- Tools of Trade
- Laptops
- Mobile Phones
- Tablets
- Photographic & Video Equipment
- Surveying Equipment
- Stock and Travellers Samples
- Sensors, Monitors & Measuring Equipment
- 2-Way Radios
- Lasers
- Any other portable equipment used in your business
Who should consider it?
Any business that works away from an office or static location. This may include:
- Tradies
- Surveyors
- Photographers
- Videographers
- Sales Persons
- DJ’s
- Film & TV Production
- Anyone else who works away from their office or static location with portable property
Did you know:
General Property insurance can be taken as part of a Business
Package policy, or as a stand-alone policy.
What can it cover:
- Accidental damage to insured items by physical means
- Accidental loss of the equipment (some items may be excluded)
- Theft of the equipment
What isn’t covered:
Some standard policy exclusions include the following:
· Theft from an unlocked vehicle or building (must be forcible & violent entry)
· Breakdown of mechanical & electrical items
· Wear, tear, fading, scratching, etc.
· Loss whilst in the care, custody or control of another person
· Unexplained or mysterious disappearance
Other exclusions will apply and you should review any quote received carefully and consider the policy wording for all policy terms, conditions, exclusions and limitations.
Case Study / Article
Whilst working on a job site an electrician leaves his tools in a locked tool
box attached to the tray of his ute.
Someone sneaks onto the site and whilst no one is around, the person
cuts the lock to the tool box and steals the tools within.
The electrician files a police report and lodges a claim with his insurer
who compensates him for the replacement of the stolen tools.
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