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Why do I need commercial property insurance?
Do you own your office equipment and need to make sure it is protected? Our business equipment insurance protects your computers, servers, office furniture and other business property against loss or damage.
What is covered?
- Business equipment
- Tenant improvements
- Coverage in and away from the office
- Accidental damage
- Personal effects
- Lost business income and extra expense
- Electronic data
- Interruption of computer operations
- Valuable papers and records
- Forgery or alteration
- Accounts receivable
- No deductions for depreciation
What is not covered?
- Earthquakes, floods and volcanoes
- Errors or omissions
- Computer testing, installation or repair
Hiscox business property and equipment insurance does cover:
Our commercial property insurance provides coverage for loss or damage to your business equipment (e.g., computers, printers, servers, office furniture). We automatically provide $10,000 of coverage for your equipment, but you can insure up to $100,000.
With business property insurance, we cover improvements you’ve made to your office space that you can’t legally remove.
You’re covered whether you stay put or are on the go. Your business equipment is insured when it's physically in your office. We also provide up to $10,000 in coverage for equipment you take away from your office such as laptops, projectors or other insured equipment.
Not only do we provide insurance for equipment against risks like fire, we also cover losses due to their accidental damage.
Your Hiscox commercial property insurance provides up to $2,500 of coverage, per premise, for personal items that are damaged in an insured loss such as a large fire.
Hiscox business equipment insurance will pay the actual income your business loses and extra expenses you incur for up to 12 months if you cannot operate your business as a result of damage to your insured equipment. This includes up to 60 days of the ongoing employee payroll expenses.
We provide up to $10,000 of business property insurance coverage to replace or restore electronic data that is lost as a result of an insured loss. This includes losses caused by a virus or malicious code. If you work with large amounts of valuable data, this limit can be increased by purchasing our electronic data loss insurance upgrade package.
If you suffer an electronic data loss as above, we will also cover up to $10,000 for the actual income your business loses and extra expenses incurred if you cannot operate your business as a result of that data loss. If you work with large amounts of valuable data this limit can be increased by purchasing our electronic data loss upgrade package.
Our commercial property insurance will pay for loss or damage to your business’s valuable papers and records at your business premises up to $10,000 or up to $5,000 if the incident occurs away from your office.
Hiscox will pay up to $2,500 for losses that result from the forgery or alteration of a check or similar financial document. We may also defend you, at our expense, if you’re sued for failing to honor a financial document you believe was forged. You can increase this limit by purchasing our commercial crime insurance package upgrade.
We’ll pay for lost receivables you cannot collect from your customers and extra collection expenses incurred as a result of damage to your records (e.g., invoices). We provide up to $10,000 of coverage for losses to records at your business premises and up to $5,000 for losses to records away from the premises.
Most property insurance for small businesses under this policy is valued at its replacement cost. There is no deduction for depreciation so you can replace damaged items for equipment of like kind and quality.
Business property and equipment insurance does not cover:
The following describes some of the key things we don’t cover:
Business property insurance doesn’t cover you for losses caused by earthquakes, floods or volcanoes.
We won’t cover you for dishonest or criminal acts committed by you or your employees. Destruction of property by your employees may be covered, but theft by your employees is not. You may obtain coverage for employee theft by purchasing our commercial crime package upgrade.
Your commercial property insurance will not cover losses due to the failure of a power, communication or another utility service supplier.
Hiscox won’t cover any losses due to mistakes in the programming, processing or storage of electronic data or valuable papers and records.
Any losses due to mistakes in the design, installation, testing, maintenance or modification of your computer systems are not covered.
Hiscox Customer Reviews
Jay, Birdsboro, PA
“Quick, responsive and lowest price – who could ask for more!”
Easy to use and prompt response
“Real customer service!”
The person that answered my call was proactive and helpful
Rhonda, Slidell, LA
“Affordable business insurance and easy to buy instantly.”
I was so confused about getting a business insurance policy, but was able to do it without assistance due to the easy navigation of the website and the way the services are outlined.
Quick and painless
Jennifer, Palms, CA
Very helpful customer service reps- speedy service!!!
“Professional and pleasant.”
The gentleman was very professional and pleasant. He helped correct the issue within minutes and also gave me information on how to resolve it online for future purposes to save myself some time.
This information is provided to assist you in understanding the coverage we offer and does not modify the terms and conditions of any insurance policy, nor does it imply that any claim is covered. Coverages are subject to underwriting and may not be available in all states.