Burglary Insurance for Business

Burglary insurance is designed to cover a business against damage or loss of property or products, as a result of a theft or theft attempt. A Burglary Insurance policy may be applicable to many business types, and in particular, those that keep expensive equipment and stock on their premises.

What does Burglary Insurance include?

Burglary Insurance falls under the umbrella of Business Insurance, however it factors in particular risks related to burglary—including forceful or violent burglaries or attempts.

Below are some of the types of cover included in Burglary Insurance.

Property Insurance

Property Insurance provides coverage for business assets including buildings, inventory, furnishings, and customer goods against fire and other unforeseen events such as burglary, water damage, natural disasters such as storms and burglary.

Business Interruption Insurance

In the event of a disruption at your business, such as a burglary that results in damaged doors, windows or stock, you may not be able to operatre for a period of time, and your income may be impacted. Business interruption insurance covers the loss of revenue and additional expenses incurred due to the damage to business operations.

Money Insurance

The money insurance coverage protects against theft of funds, whether it occurs at your place of business, while in transit, or even at your personal residence.

Glass insurance

As a tenant, you are typically responsible for insuring the glass in the building you occupy. Glass Insurance typically covers external glass breakage, destruction of stock or contents (caused by broken glass that constitutes a claim), and signs made of glass or plastic which forms part of an illuminated sign.

Glass Insurance may also cover the costs for after-hours service, express delivery and overtime by repairers.

Glass Insurance can help to protect you from costly repairs or replacements, as well as lost income due to damaged stock or contents.

Liability Insurance

Liability insurance offers protection against amounts you may owe for personal injury and damage to third-party property in connection with your business operations. This coverage applies to third parties such as customers, contractors, and visitors to your premises.

Worker’s Compensation Insurance

Under Australian law, it’s compulsory for employers to take out Workers Compensation Insurance. This insurance covers workers in case they become sick or injured because of work. Workers compensation includes payments to employees to cover their wages while they’re not fit for work, medical expenses and rehabilitation.

Machinery Breakdown Insurance

Machinery breakdown is a common occurrence due to constant use. Machinery breakdown insurance provides coverage for sudden and unexpected losses to your plant and equipment, as well as stock stored in refrigeration units and cold storage.

Electronic Equipment Insurance

Electronic equipment insurance protects against sudden and unforeseen losses to electronic devices, including the cost of restoring lost data.

Management Liability Insurance

Management liability insurance offers protection for a variety of management-related risks faced by company owners and executives, including allegations of mismanagement by directors (directors and officers liability), staffing disputes, employee theft, breaches of labor laws, and tax audit costs. This coverage includes coverage for legal expenses and compensation in the event of claims of loss caused by you and is a critical consideration for any business.

Cyber Insurance

Cyber insurance is an increasingly crucial aspect of business operations in the digital age. With a heavy reliance on technology and the internet, companies face an increasing risk of cyber attacks, data breaches, and other types of digital threats. A cyber insurance policy offers protection against a wide range of potential hazards, including extortion, hacking, social engineering theft, identity theft, privacy violations, and telecommunication fraud. As cybercrime continues to pose a significant threat to both large and small businesses, securing adequate cyber insurance coverage is becoming a top priority for many organisations.

An example of an exposure may be that a computer and harddrive are stolen from your premises, and sensitive business or customer information can now be accessed.

Goods In Transit & Marine Cargo Insurance

Goods in Transit & Marine Cargo Insurance is essential for businesses that import or transport goods by road, sea, or air. This type of insurance provides protection to your goods while they are in transit until they reach their final point of delivery. It covers risks such as accidental loss or damage to the goods, theft, hijacking, and fire during transportation. Additionally, it can provide protection against delays due to certain perils typically associated with shipping, such as bad weather and strikes.

In addition to protecting against potential losses and damages, marine cargo insurance also helps protect manufacturers.

General property insurance

Protect your mobile equipment such as phones, iPads, and business-specific gear with comprehensive off-premise coverage from General Property Insurance.

How the Insurance Broker will assist

An Insurance broker well-versed on the particulars relating to burglary and its impacts on businesses will assist you in documenting your insured items and help you to choose the level and types of cover you need for your business.

Another key part of the picture is your preparedness for a burglary event. The broker will discuss with you the measures you should consider taking to protect your goods, premises, and yourselves. They will also ask if you have a Business Continuity Plan in place, should an event occur.

Burglary Prevention

Things you can do to help reduce the likelihood of a burglary include:

• Keeping expensive equipment, stock and/or cash out of sight and inaccessible during closed hours.
• Having security measures in place like motion-sensor lights, cameras, alarms, and having secure locks.
• Ensuring as few people as possible have key access to your premises, and that anyone with a key is recorded as a key holder. Also ensure you have separate keys for separate locks, rather than a master key for all.

Steadfast Eastern Insurance Brokers

At Steadfast Eastern Insurance Brokers, we’re committed to providing quality business insurance solutions tailored to your specific needs. We take the time to understand what you do and how you operate so that we can find the right coverage for you. By leveraging our years of experience in the insurance industry, our cutting-edge market knowledge, and access to various tools, we provide customised solutions that meet your individual requirements.

Why use our services for your burglary insurance?

• We have access to over 100 insurers in the Australian insurance market— some are specialists that do not deal directly with the public.
• Insurance suppliers offer between them hundreds of different products, and we can advise which products may best suit your needs.
• We have a genuine understanding of the market. We understand how the insurance market operates and when the market is entering a soft phase or prices are starting to harden, and can advise you accordingly.
• We help you understand your policy, some of the terms and conditions and how they operate.
• We assist you with Risk Management Programmes to reduce your exposure and present yourself to the insurer in the best possible light.
• If you make a claim, we are here to help to ensure you receive exactly what you’re entitled to in a fair and reasonable manner.
• We hold an Australian Financial Services (AFS) licence.
• We are backed by the strength of Steadfast Limited, Australia’s largest general insurance distribution network.

Contact us today and we can match you with the right insurance policies for you.