Tools and Equipment

General Property

We know how important your tools and equipment are to your success. From hammers and drills to phones and laptops^*, most small businesses would struggle to continue working without them, which is why we off General Property cover.

The General Property Section offers the reassurance of covering the cost to repair or replace portable tools and equipment that are accidentally damaged anywhere in the world.
However jewellery, sporting equipment, curios, works of art, precious metals, precious stones, money, motor vehicles, caravans, trailers, motorcycles, watercraft, aircraft or aerial devices, livestock and animals are excluded under the General Property Section.

What cover options can I choose?

Unspecified items cover

Unspecified items include equipment such as tools of trade and general business property.
Individual unspecified items are covered up to $2,500, and cover for loss or damage to all unspecified items arising from any one event is limited to the sum insured (you can choose either $2,500, $5,000, $10,000 or $25,000).

Stock cover

When you apply for cover online, you can choose to cover $2,000, $3,000 or $5,000 worth of unspecified stock, or you can apply for more by calling us on 131 846.

Specified Items cover

With this cover, you can apply to insure items you specify for an agreed amount. This can include items such as: mobile phones, computers and photographic equipment (of any value), plus any other items (unless excluded – refer to the PDS) which have a value greater than $2,500.

Specified Items must be listed on your policy schedule.

Refer to the General Property Section of the PDS for further details. Cover is subject to the terms, conditions and exclusions listed in the PDS.

The above descriptions of cover apply to the Small Business Advantage Pack only. The Office Pack and Trades and Services Pack can contain different covers, limits and exclusions, and are not available for purchase online.

All covers purchased online are from the Small Business Advantage Pack.

Machinery Breakdown

If your business relies on specific machinery to function, you need to know it’s covered for breakdown. This cover will allow you to have the machinery repaired or replaced, and also provides optional cover for loss caused by deterioration of stock as a result of the machinery breakdown.
Machinery Breakdown can cover all machinery at your business premises, except for those items specifically excluded (which includes computers, communication equipment and audio visual items – refer to the PDS for conditions, limits and exclusions). If you would like to cover these excluded items, the Electronic Equipment Section could be an option.

What are my cover options?

You can apply to specify each item of machinery to provide breakdown cover up to the specified amount for that item.

Alternatively, you can choose not to specify your machinery. You can choose a level of cover for such unspecified machinery of either $10,000 or $20,000 for each breakdown. If you need a higher level of cover we can also assist you with this. This will mean that all your equipment is covered up to the amount selected, except for the items excluded or impacted in the PDS.

You can also ensure that your air conditioning units are covered by declaring the number of units that you have at your business premises.

Machinery Breakdown also provides a number of additional benefits including:

• Removal of debris (sub-limits apply)
• Hire of temporary machinery, costs associated with temporary repairs, and the extra cost of expediting permanent repairs in relation to overtime and freight costs (sub-limits apply).

Higher-value machinery

If your business has larger items that fall outside the amounts mentioned previously, simply call us and we will do our best to help you.

Refer to the Machinery Breakdown Section of the PDS for further details. Cover is subject to terms, conditions and exclusions listed in the PDS.

The above descriptions of cover apply to the Small Business Advantage Pack only. The Office Pack and Trades and Services Pack can contain different covers, limits and exclusions, and are not available for purchase online.

All covers purchased online are from the Small Business Advantage Pack.