Contents Insurance: Your Equipment is the Motor of Your Company.

Imagine coming to your office, workshop, or shop in the morning and finding everything gone. Or even worse: a fire has destroyed all your business equipment, your goods, and your stocks. Contents Insurance is to companies what household insurance is to individuals. It protects your movable business assets from the financial consequences of natural forces and crime.

The Story of Marc: When a short circuit stops production

Fictional example for illustration; all persons and events are invented.

Let me tell you Marc's story. Marc is an expat who runs a modern carpentry shop in Rheine-Hauenhorst. In recent years, he has invested heavily in computer-controlled machines and high-quality tools. One night, a technical defect in a suction system caused a smoldering fire.

Although the fire department was quickly on the scene and prevented worse, the damage was immense. The fire itself caused severe damage, and the aggressive smoke and extinguishing water made it even worse. The sensitive electronics of the expensive machines were scrap, and the stored real wood for a large order had become unusable. Total damage: over 180,000 euros.

Marc was left with nothing. No machines means no work, no work means no revenue, with ongoing fixed costs. Thanks to a well-calculated Contents Insurance, Marc was able to order new machines within a very short time. The insurance also covered the costs of the business interruption (loss of earnings), so Marc could continue to pay his employees until the new production started. Today Marc says: "Contents insurance saved my business. Without it, I would have had to file for insolvency."

What exactly is insured in contents insurance?

The entire commercial and technical business equipment as well as all stocks and goods of your company are insured. The protection usually includes:

• Fire: Fire, lightning, explosion.
• Burglary: Including vandalism and robbery.
• Water: Damage from burst pipes or hoses.
• Storm and Hail: Damage to the inventory through external impact.
• Natural Hazards: (Add-on) Flooding, backwater, heavy rain.

What entrepreneurs should pay particular attention to

As your Insurance Broker, I ensure that no coverage gaps arise. The following points are particularly important:

• Replacement Value Insurance: In the event of a claim, you receive the amount you would have to pay today for the new purchase of equivalent machines or equipment.
• External Insurance: Is your equipment (e.g., laptops or tools) also insured when you are on a construction site or at a client's place?
• Glass Insurance: For shops with large windows, additional glass insurance is often useful.
• Electronics Insurance: For specialized IT or medical technology, contents insurance is often not enough, here we need all-risk coverage.

Business Interruption: The often underestimated danger

Property damage is one thing. The bigger risk is often the subsequent Business Interruption. If you cannot produce for three months, the salaries, rents, and leasing rates for your company continue. A good contents insurance should therefore always include business interruption insurance, which covers your lost profit and ongoing fixed costs.

What Is Not Covered

Business contents insurance is household contents insurance for your business. These points are typically not covered:

• Loss of income: Lost turnover after a loss is covered by business interruption insurance.
• Machinery breakdown: Defects caused by operating or material errors are covered by electronics or machinery insurance.
• Underinsurance: If the sum insured is too low, compensation is reduced proportionally.
• Simple theft: Theft without a break-in, for example from an open shop, is usually not covered.