Opinion

Keep Your Assets As Safe As Houses With Property Insurance

What would happen to your business if a key piece of tech was stolen or damaged? Could you keep serving customers? Or would you have to put things on hold until you got a replacement?

For most scale-ups, missing equipment means delays, missed deadlines, and disappointed clients – none of which you can afford. Plus, you’ll need to pay to replace it, typically causing further cash flow headaches – especially if you’re yet to get funding from investors.

That’s where Property insurance steps in…

Photo by Rodeo Project Management Software

What is Property insurance?

As you might expect, Property insurance covers items or equipment kept in certain places. What you might not expect is that it can extend to items you keep off-premises. It’s important as it helps you to maintain business as usual by covering the cost of repairs or replacement – and sometimes even a loss in profits.

Now, a lot of people think Property insurance largely concerns theft. But the reality is that these policies cover you if items are damaged or destroyed in a wide range of events such as fire or flood damage.

When do I need it?

If you rely on business equipment – whether that’s computers, tools or heavy machinery – get Property insurance in place. Without it, you can’t work. But with it, you can replace the equipment with the funds that your cover provides and keep trading.

Other triggers for taking out a policy include:

  • Using office technology
  • Moving into a physical premises
  • Stocking products

We recommend it if you’re eyeing investment too. It sends a clear message that you’re risk-averse and conscious of a potential knock to business performance.

Photo by Charlie Firth

How we can help

Capsule is a specialist insurance provider for start-ups and scale-ups, and we gear our advice towards enabling your growth. We believe you should be focusing less on the smaller details like insurance, and more on the decisions that move you forward. That means we act like a partner to keep you protected as your needs evolve (not just checking you’re still covered at renewal), and ensure you’re always with the best insurer at the best price.

Let's chat if you’d like to know what that looks like in practice and to discover the kind of protection you might need at each stage of your journey.

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