Business Equipment Insurance – Equipment covered

Can you imagine arriving at work excited for the day ahead only to discover that some important business equipment has been stolen or damaged? Things like losing your laptop, toolbox or a breakdown of specialist equipment beyond repair wouldn’t help at all. This is why you need business equipment insurance.

It’s a difficult situation, and if you depend on those missing items to complete your task, it could spell trouble for your company. Therefore, having the appropriate business insurance coverage in place is beneficial.

Read on to learn more about business equipment insurance and the types of business that need it.

What is business equipment insurance?

A sort of insurance called business equipment insurance protects you from theft or damage to any tools you use regularly for your line of work.

You can claim any lost, broken, or stolen equipment if you have insurance. To the extent permitted by the terms and circumstances of your insurance, your insurer will pay for any necessary repairs or replacements.

It provides a safety net in case the worst should ever occur, as is the case with all forms of business insurance.

Making a list of every piece of equipment your business needs to run smoothly is always a good idea. The number of items you need to insure and the type of coverage you require can then be determined. Small business owners must get business equipment insurance since it can provide them peace of mind that they can continue operating even if something goes wrong.

Finding another type of insurance available may seem intimidating, but you can easily add this type of coverage to your current company insurance policy.

What types of businesses need business equipment insurance?

Equipment insurance is a worthwhile addition to your coverage if any specialized instruments are required for the operation of your firm.

Plumbers, contractors, electricians, engineers, and carpenters immediately come to mind. Still, if you work in the creative industry (photographers, journalists, artists, and small businesses), you should also think about having insurance.

Consider this: It might be worthwhile to insure a piece of equipment if you physically cannot operate without it. The price you pay will depend on the extent to which you need to protect your tools and how much it would cost to replace or repair them. There are various levels of cover available. The price of the cover will also depend on the sector of the economy you work in and the location of your company.

A member of our insurance team will walk you through your options to get the best coverage for your particular needs if you believe your company will benefit from purchasing business equipment insurance.

The equipment and tools it covers

As previously said, business equipment insurance covers the majority of goods that are essential to the operation of your organization, such as:

  • Cutting equipment
  • Wrenches
  • Drills
  • Specialised saws
  • Photography equipment
  • Specific screws and hammers
  • Wire strippers
  • Design equipment
  • Specialised screwdrivers
  • Cherrypickers

Having coverage ensures that your insurance will pay for any legitimate claims’ repair or replacement expenses. If you submit your claim using the proper procedure, there should be little chance of work disruption, and you won’t be out of money.

However, suppose something were to happen to your equipment, and you weren’t protected. In that case, you’d have to pay for the replacement item on your own, which might lead to various problems or even force you to temporarily quit trading.

Do I need insurance to cover my equipment and plant tools?

Various business equipment insurance plans offer varying degrees of protection. The specifics of your business will determine the type of coverage you require.

Your business equipment insurance normally covers the essential tools you need to work daily. However, you can choose more comprehensive plans that also safeguard your equipment away on the road or from the office.

For example, if you’re a carpenter who travels for business in a van. They could insure even your tools if they stole them from your van instead of the office or construction site if you chose a more comprehensive level of equipment coverage. But be aware that your insurance may cost more due to the increased risk.

Additionally, if you inform your insurer that you work from home, they can modify any existing home contents insurance you have to include instruments used for your job.


Unforeseen circumstances can make you lose important items at your workplace. Another reason you’d need business equipment insurance is a breakdown of work tools without which you can’t perform your daily tasks. Therefore, it’s essential you get your business equipment insured along with your business insurance.