Accidental Damage Insurance

Any breakages or damage to your property or contents caused accidentally by yourself, your staff or your visitors. Whatever the circumstances, this cover pays the cost of repairing or replacing any unintentional damage.

This is a common misconception. Many people believe building insurance protects any damage to your property. This is not the case. It only covers against known threats such as fire, flood and storms. Anything problems caused by human error will not be covered, which means this is a gap which badly needs to be filled.

Insurers will assess the cost based on a number of different factors including the value of your property, size of the business, number of employees and any claims you have made over the last five years. They are looking to assess what risk you pose. Fewer claims mean you’re a lower risk and will translate to lower premiums.

It’s inevitable an accident will happen, whether that’s you, a staff member or client spilling a drink on an expensive piece of kit, or someone who’s a little clumsy knocking something over. If you don’t have accidental damage insurance in place, you’ll have to pay for replacements or repairs from your own bank account. This could damage your business finances and prevent you from operating as usual.