Business theft insurance can cover more than just your stock and contents. Make sure you're fully protected by comparing quotes with Savvy.
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The peace of mind that comes with knowing your business is protected against all common risks is priceless. That’s why choosing great business theft insurance is a priority for many businesses. It’s important to make sure your business has comprehensive protection against this risk, not only for goods lost but also for damage caused by thieves to your doors and locks.
You can compare a range of offers for theft insurance from some of Australia’s most respected insurers right here with Savvy. Get multiple quotes in minutes just by answering a few simple questions about your business. Start the process with us today and compare policies all in one place.
Business theft insurance is a type of business insurance that is usually offered in a package with other types of insurance, such as public liability insurance, professional indemnity insurance and protection against fire and storm damage.
Theft insurance covers your valuable property for losses incurred due to any of the following events:
These are the items typically covered by theft insurance:
It can also cover the cost of repairing physical building damage caused by theft or attempted theft, such as door frames and locks being damaged, roof sheeting lifted and wall panels being cut.
There may be limits placed on the value of individual items which can be replaced, which is why it’s important to compare insurance policies carefully to find out exactly what the terms and conditions are.
There are certain requirements to ensure your commercial property is well secured for theft insurance to cover you. The stolen items must have been securely stored before the theft occurred and there must be evidence of forcible entry in the commission of the theft.
Items which typically aren’t covered by theft insurance include:
So-called ‘internal’ theft carried out by employees is also usually covered by other forms of insurance, known as employee dishonesty cover.
Knowing what’s not included in your theft insurance is just as important as being aware of what is, as it could mean you need additional insurance protection. For example, if you run a pet shop business, it’s valuable to know the cost of animals is not generally covered by theft insurance. Therefore, if your stock includes valuable tropical fish or rare birds, you may need to get other forms of insurance to protect your investment in livestock.
As mentioned above, theft insurance is usually offered as a package along with other forms of insurance. How much your insurance will cost depends on the options you choose and the other variables which influence the cost of insurance, such as:
Naturally, the type of business you run will have a strong influence on the cost of theft insurance. For example, if you run an electronics store which contains many high-value computers, your insurance premiums will be far higher than if you are a yoga teacher and just have rubber mats as your main stock item.
The state you live in and your postcode will also influence the cost of your theft insurance. For example, a business located in South Australia out in the country will typically be offered cheaper insurance than an identical one located in the centre of Sydney, as risk loadings are higher for an urban location in NSW than they are for rural SA.
It’s for this reason that comparing insurance policies which cover theft is so important. Savvy’s simple comparison service is free of charge and allows you to receive a range of high-quality quotes to consider within minutes without having to visit an insurance broker.
Find the best possible insurance coverage for your business quickly and easily here with Savvy's 100% free comparison service.
With multiple trusted insurance partners across the country, you can enjoy high-quality online comparisons all in one place right here.
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Disclaimer:
Savvy is partnered with BizCover Pty Ltd (ABN 68 127 707 975, AFSL 501769) to provide readers with a variety of business insurance policies to compare. Savvy earns a commission from BizCover each time a customer buys a business insurance policy via our website. We don’t arrange for products to be purchased from these brands directly, as all purchases are conducted via BizCover.
Savvy does not compare all business insurance policies or providers currently operating in the market. Any advice presented above or on other pages is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy.
For any further information on the variety of insurers compared by BizCover or how their business works, you can read their Financial Services Guide.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
