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28Aug 2018

Optional extras to add to your buildings combined insurance

The building (or buildings) that your business relies on to turn a profit is surely the most expensive asset that you’ve invested in. The things that can go wrong are like the stars in the sky… Endless. (But way less pretty.) And while our buildings combined insurance covers a list of risks and perils as long as several arms attached together, there are still a few areas that are more niche. More specialised… Especially when it comes to the damage and loss that they can wreak on your buildings and your business’ bottom line.

We’ve got you covered with the following 12 options that you can add to your policy for an additional fee each.

1. Bursting/overflowing geysers and water pipes
Consider the damage that leaking, bursting or overflowing water heating systems (like your boilers, geysers, and solar water heating systems), water supply tanks, cisterns, and pressurised water pipes can have on your business. You can prevent paying to fix these appliances and devices with the king’s additional cover for bursting/overflowing geysers and water pipes. The king will even cover damage to your fixtures, fittings, and improvements, from ceilings to carpets.

2. Documents
You can add cover for your important docs that are kept at your office premises, like your mortgage bonds, title deeds, transfer deeds, powers of attorney, tender documents and agreements, certificates, wills, business books, maps, plans, drawings, specifications, computer programs, and records, etc.

3. Escalation
You can choose for your buildings cover to increase by a percentage noted on your schedule during each period of insurance.

4. Fidelity guarantee
Let’s say that an elected trustee or employee of the sectional title steals (by fraud or dishonesty) the property or money that belongs to the sectional title… And let’s say that this results in dishonest personal financial gain for that person. The king has your back and will cover your loss.

5. Geyser and water pipes wear and tear
Remember when we gave you the option to cover bursting or overflowing geysers and water pipes? Well, you can also cover these systems and pipes against wear and tear, gradual deterioration, rust, decay, cracking, splitting, faulty materials/workmanship or latent defects. Just in case you were extra worried.

6. Locks and keys
Losing locks and keys isn’t just super frustrating, but it can also add to the stress of paying to replace them and cause some serious paranoia if you consider the fact that locks and keys are often duplicated for devious reasons. So, if these items disappear and you think that someone has duplicated them then we won’t judge your suspicions. We’ll just pay to have them replaced. It’s all good.

7. Money
And by money, we mean… Your cash, bank and currency notes, cheques, postal orders, money orders, current negotiable postage revenue and holiday stamps, credit card vouchers and docs, certificates, etc. If you’re responsible for these items, we’ll cover the cost of the damage.

8. Office contents
What is an office without its contents? Empty. That’s why you can choose to cover all these items for loss or damage, from the contents and docs, electronic data, and processing equipment… As well as the landlord’s fixtures and fittings, as long as they belong to you or you’re responsible for them.

9. Power surges
Things can get electrifying. The king understands that this can happen from time to time, which is why you can choose to add cover for loss or damage to your property from power surges and lightning strikes.

10. Riots and strikes
If you think that your business is at risk of dangerous situations, like a scarily damaging riot or strike, then you can add this optional extra. This way, the king will cover the loss or damage to your property from situations like civil commotion, labour disturbances, riots, strikes or lockouts.

11. Subsidence and landslip
You know how a dip in financial results can give you that sinking feeling? Well, it’s nothing compared to an actual sinking feeling, where the land literally sinks and takes your physical business down with it. The damage is excessively expensive, but if you choose subsidence and landslip cover, the king will fork out the bucks to help you recover.

12. Trustees’ indemnity
Worried about how to pay for damages that the sectional title or any associated trustees caused (by committing a wrongful act) for which they are actually legally liable? Yup, well you can take the worry off your shoulders by adding the king’s trustees’ indemnity cover. Just like that.

Trust our royal experts

Some entrepreneurs will have a decent idea of which extras are necessary and some won’t. Either way, you can be at peace knowing that our expert business insurance team is there for you. Our team will work exclusively through your broker to make sure that your business has exactly the cover that it needs. The last thing we want is for your business to be at risk or for you to pay for cover that you don’t need.

Remember, if you don’t have a broker, we’ll connect you with 1 who is best suited to you and your business. Don’t delay, just get in touch today and we’ll get straight down to business.