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10Jul 2018

Why your business insurance should include fire insurance

4 reasons why your business needs fire insurance

The expression ‘sizzling hot’ is nice when describing your monthly sales figures. After all, we all like to play about with clichéd descriptions when we’re celebrating a good month. It gives your success that extra bit of fun. However, it’s hardly the type of phrase you’d want to see play out in your actual business. Unfortunately, this happens more often than you’d care to think, because fire is 1 of the most common causes of damage to business properties.

Even with all the modern safety regulations in place, fire is still a major threat. That’s why if your business operates out of its own property, or uses office equipment and computers, or holds stock, and other tools, then fire damage is something you need to be insured for.

Here are the top 4 reasons why you should consider fire insurance as part of your business insurance.

#1. Fires can start at any time, for any reason

A defective canteen toaster, a cigarette stompie in the trash can, a lit candle, faulty wiring, chemical reactions, a lightning strike, and about a 1,000 other sources each have the potential to fan into a gigantic flame. Sometimes all it takes is 1 little spark to erupt and consume everything in its path…

It’s just not worth the risk.

 #2. The cost of starting over

Think about what it takes to run your business and how much these items cost… Like your office equipment, which includes your computers, stationary, desks, chairs, light fixtures, and decorative items. These can cost you anywhere from R100,000 to R1 million. Computers alone can cost you around R30,000 each to replace!

And then there’s the cost of repairs to your property, which could include rebuilding walls, replacing pipes and wiring, and putting the final paint touches to finish the job. Oh, and let’s not forget about any inventory or tools that you might need to replace so that you can fill client orders, which may already have been paid for.

It’s a complete financial and administrative nightmare, which is why businesses who don’t have cover for fire damage very often have no choice but to close their doors. All your years of hard work, time away from your family, late nights, will have gone up in a wisp of smoke.

#3. The ‘put-it-out-put-it-out-put-it-out’ damage

We tend to think about what a fire consumes and what it would cost to replace these items… But the damage done by smoke and flame is just the half of it. You also need to consider how much it’ll cost to repair damage done by the water and foam used to extinguish the blaze. This can sometimes do even worse damage to your business’ assets and property and will be covered by our fire insurance policy.

#4. Security to plan for your business’ future

Knowing that you’re covered against the devastating costs of recovering from fire damage has the power to free you to focus on where your business can go. You won’t feel the need to stash away piles of cash for a rainy day (or fiery day, as the case may be), which probably won’t ever be enough, because you’ll have peace of mind that comes from paying a super affordable monthly premium to take care of this for you.

With this security, you can plan for your business’ financial future and take your company vision to the next level. First stop, South Africa, next… The world.

And here’s why you should choose our royal business insurance
Our expert business insurance team understands just how unique your business is and will work exclusively through your broker to make sure that your business is insured against relevant risks, including fire damage, for the most affordable premium. If you don’t have a broker, we’ll connect you with 1 best suited to you and your business.

Most importantly, we’ll be there for you when it counts. We’ll service your needs with the right team, expertise and understanding, and without compromising on quality or value. And if the worst happens, our claims specialists will be at your disposal, every step of the way.

Give your business our royal touch and protect it against a fiery death… Get in touch today.