Portable Contents Insurance
Covers loss or damage to portable items or stock that you usually carry around with you in the course of your business.
Why would I need Portable Contents Insurance?
What does this mean for your industry?
- Replace or repair your items, except portable computer equipment over two years old
- Loss or damage to items you've individually specified
- Loss or damage to items you've insured as a group (unspecified items)
- Theft of any items covered
- Worldwide cover for your portable computer equipment and mobile phones
- New Zealand-wide cover for all other portable contents or stock
- Damage during cleaning, maintenance or repair
- Gradual wear and tear, rust or rot
- Items worth $5,000 or more, unless you specify them
- Theft by an employee or family member
- Jewellery or motor vehicles, unless they're your stock
- More than $1,000 of money
These lists highlight some of the inclusions and exclusions in this policy. For full details of all inclusions and exclusions, see the policy document.
Daniel's hotel room was burgled while he was in Sydney for a conference. Among the belongings that were stolen was his 8-month old business laptop. Fortunately, Portable Contents Insurance covers insured computer equipment and phones anywhere in the world. Daniel had specified the laptop for $5,650, and because it was less than two years old he was reimbursed for the full cost of replacement. If it had been over two years old, he would have been paid what it was worth at the time of the burglary.
Rahiri stepped outside one morning to find that a large amount of tools and stock had been stolen from his work van. Although the total value of the stolen goods was $20,000, no individual item was worth more than $5,000, so Rahiri was able to claim under the Unspecified Items Limit on his policy. If an employee or family member had been responsible, his Portable Contents cover would not have paid the claim. That's why Employee Theft Insurance is also worth considering.
A fire in a parking garage damaged Brett's work vehicle and $5,000 worth of tools, equipment and lawn care accessories for sale inside it. Once the details of the incident were confirmed, Brett's Portable Contents cover reimbursed him for the value of his work gear, plus the cost price of his stock. It was the owner of the parking garage who was at fault for the fire, but even if Brett had accidentally started it, his Insurance would have covered the lost items. Repair of damage to Brett's work vehicle would require Commercial Vehicle cover.
These fictional scenarios were created to illustrate the benefits of Portable Contents Insurance. All claims are subject to the terms and conditions in the policy document.