Office equipment insurance

Access practical information on office equipment insurance. Find coverage options, industry risks, trends, FAQs, and tailored policies designed for brokers

Office equipment insurance protects Australian businesses from financial loss caused by theft, damage, or unexpected incidents affecting essential assets. This coverage extends to items such as:

computers
desks
chairs
high-value electronic devices

It can include other critical office assets such as:

printers
copiers
filing cabinets
specialised equipment unique to certain industries

With the increasing reliance on technology, this insurance helps companies recover quickly and maintain productivity after a disruption.

Tax deductions are also available for premiums and repair costs, making office equipment insurance in Australia a practical choice for businesses.

This insurance sector is impacted by cyberattacks, with connected devices like IoT printers vulnerable to breaches and data theft. Rising inflation has increased replacement costs for vital assets, while supply chain disruptions delay new equipment procurement.

Amid these challenges, new trends are shaping the industry such as:

remote work: the shift to remote work boosts demand for policies covering portable devices, IoT gadgets, and digital asset protection

Despite increased vacancies, businesses choosing premium office spaces often invest in advanced equipment, prompting brokers to recommend tailored insurance policies for changing client needs.

What insurance do businesses need for an office?

Australian offices require several types of insurance to safeguard operations and assets:

workers’ compensation insurance: required coverage under the Workers’ Compensation Act 1987, covering medical costs and lost wages for workplace injuries

Evaluating specific risks and consulting with brokers can help businesses determine the right mix of policies for an office environment.

Does office equipment insurance cover heavy equipment in the office?

Office equipment insurance typically covers items like laptops, smartphones, tablets, and other essential office devices.

Coverage for heavy equipment, such as large machinery or specialised tools, may not be included under standard office equipment insurance.

What is the best insurance for heavy equipment?

For businesses that rely on heavy equipment, it is advisable to look into business equipment insurance or heavy equipment insurance.

What is an office package insurance policy?

It is a bundled insurance policy designed to protect office-based businesses from multiple risks under a single agreement. Coverage Includes:

property damage from fire, theft, or accidents
business interruption to cover lost income
public liability for third-party injury or property damage

By consolidating multiple coverages into a single policy, office package insurance simplifies risk management and can be more cost-effective than purchasing separate policies.

What are common office equipment insurance coverage options?

Australian office equipment insurance typically includes protection against:

fire and events: covers repair or replacement if equipment is damaged by fires, storms, or earthquakes
theft and burglary: compensates for stolen materials from office premises
accidental damage: covers unintentional damage, like spills or drops
portable equipment: protects laptops and mobile devices used off-site

It is necessary to review policy details, as coverage can vary between insurers. Consulting with an insurance broker can help customise a policy to specific business requirements.

Does office equipment insurance cover theft and natural disasters?

Yes, these policies in Australia cover these threats. Coverage may include protection against theft and damage caused by natural disasters like fires, storms, and earthquakes.