What’s covered & what’s not Things to consider Back to Business Insurance

Portable Equipment*

Portal Equipment insurance (also known as General Property insurance) covers you for loss and damage to items of portable equipment associated with your business. These can include tools of trade and items of stock.

Did you know?

Cover is limited for unspecified items.
If the loss occurs by theft, you will be required to demonstrate that you had secured the specified property as required by the policy terms and conditions.

What’s typically covered?

Loss or damage that is caused by:

Fire, storm, water, explosion, impact or malicious damage
Accidential damage
Collision or overturning of the conveying vehicle
Theft following forcible and violent entry to locked vehicles or locked buildings;
Theft of equipment securely attached to a vehicle through the use of locks or padlocks

Specified portable equipment can include items such as:

Mobile plant
Photographic or video equipment
Mobile communication equipment, including telephones and radios
Electronic equipment, including computers, diaries, GPS units
Accessories for the items listed above

What’s typically NOT covered?

Loss or damage to your portable equipment that is caused by:

Wear, tear or gradually developing conditions
Cracking, scratching, marring or breakage of glass or fragile items or surfaces
Rust, oxidation, mildew, mould, moths, insects, vermin, dry rot, contamination or pollution
Any process of heating, drying, cleaning, dyeing or alteration to any insured item
Faulty materials or workmanship
Theft by employees
Unexplained inventory shortage

*As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this web page is general only and should not be relied upon as advice.

Things to consider

Does your business rely on portable property (such as tools)?
Does your portable equipment have a combined value, such that replacement or repair of the equipment could put your business under financial stress?
Is your portable equipment stored in the open air or is it secured? Your policy wording is likely to explain how your portable property is required to be securely stored for it to be covered by your insurance.

BizCover Pty Ltd (ABN 68 127 707 975; AFSL 501769). BizCoverTM does not compare all general insurers or insurance products in the market, only those listed on our website. We act as agent of the insurer in respect of any insurance policy purchased through us and not as your agent. Any advice provided is general advice only and does not take into account your personal objectives, financial situation or needs. Please consider whether the advice is suitable for you before proceeding with any purchase, including by reading the Product Disclosure Statement or Policy Wording (available on our website). For more information about our services, including how we are remunerated, our remuneration rights if the policy is cancelled and how we deal with your personal information, please read our Terms and Conditions (including Privacy Notice), Financial Services Guide and Privacy Policy

Portable Equipment*

Did you know?

What’s typically covered?

What’s typically NOT covered?

Things to consider

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