General Property Insurance
General Property Insurance covers you for the cost of repairing or replacing property insured, such as your tools or equipment, that is accidentally damaged in any location worldwide (unless otherwise noted).
We understand that not having your tools or equipment could result in you not being able to work, which could affect your cash flow while also leaving you out of pocket to repair or replace your necessary tools or equipment. This is why having General Property Insurance can help by ensuring accidentally lost or damaged tools or equipment are repaired or replaced ASAP enabling you to continue operating.
There are two types of covers for tools of trade/general property:
- Defined Perils – This is a standard cover. This covers you for such perils like fire, flood, damage due to collision and overturning of the vehicle. It also includes theft from securely locked vehicle by forcible and violent entry.
- Accidental Loss and Damage – This can be extended to be on top of the defined perils cover.
