Norwest NSW
Building & Contents Insurance
Your premises and everything inside it is probably the biggest investment you've made. Fire, storm, theft, a burst pipe, a car through the front window. It doesn't take much.
Building and contents insurance covers the physical side of your business: the structure itself and the things you use every day.
Building cover and contents cover
Building cover
For owners of the property. It covers the structure, permanent fixtures and fittings, and often outbuildings, fences and driveways.
Contents cover
For owners and tenants. It covers stock, furniture, equipment, tools, computers and other items inside the premises. If you lease, you may still need to insure fit-out you've paid for. Check your lease. It's often missed.
What it can cover
Fire, lightning and explosion
Damage to the building and contents from fire, lightning and explosion events.
Storm, flood and water damage
Storm and water damage, with flood depending on the policy and location.
Theft and attempted theft
Loss from theft and attempted theft of contents and stock.
Malicious damage and vandalism
Deliberate damage by others, including vandalism to the premises.
Impact from vehicles
Damage caused when a vehicle hits the building or fixtures.
Common mistakes we see
Underinsuring
Sum insured set years ago and never updated, so the rebuild cost is well above it.
Missing stock peaks
Cover is based on average stock, not the Christmas peak.
Forgetting the fit-out
Tenants assume the landlord covers it.
Assuming flood is included
It often isn't, or comes with conditions.
Case study
An example
A storm pulls part of the roof off a warehouse in Western Sydney. Water gets in and damages stock, shelving and the office computers. Building cover pays for the roof and structure. Contents cover pays for the stock and equipment. If the sums insured are right, the business gets back on its feet. If they were set too low, the shortfall is the owner's problem.
Illustrative example only. Cover depends on your policy wording.
Contact us
To get a quote, have these ready:
We're based at Suite 2.02, 2-8 Brookhollow Ave, Norwest NSW. Call 02 8660 2305 or email admin@idealbrokers.com.au.
Ideal Insurance Brokers, Norwest NSW 2153. Ideal Brokers Pty Ltd (CAR No. 001262504 | ABN 65 623 205 952) is a Corporate Authorised Representative of Metrix Connect Pty Ltd ACN 635 286 136 as the trustee for the Metrix Connect Hybrid Trust ABN 55 742 327 931 | AFSL No. 525491. This page contains general information only and does not take into account your objectives, financial situation or needs. Read the Product Disclosure Statement before buying.
Building and contents insurance FAQs
Usually not. The landlord insures the building. But you should insure your contents and any fit-out you own.
For buildings, it's the cost to rebuild, not the market value. For contents, it's what it would cost to replace everything, including peak stock. We can help you work through it.
Sometimes. It depends on the insurer and the location. We'll tell you straight whether it's in.
Yes. We can arrange multi-site cover, often under one policy.