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Business asset insurance 

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  • A broad business policy designed for Kiwi businesses
  • Optional liability and / or business interruption cover to further protect your business
  • Call our team of consultants to help decide what policies suit you best on 0800 379 372.


  • Business assets

    Rest easy knowing your insured property is covered in the event of sudden and unforeseen accidental physical damage.

  • Seasonal stock increase

    Stress free cover that automatically increases the sum insured by 20% during November, December and January for any insured stock you have.

  • Portable electronic equipment

    Up to $5,000 per item and up to $10,000 in total cover per event for any laptop or cellphone under two years old no matter where in the world they may be. Items over two years old are covered for present day value.

  • Refrigerated goods

    If your fridge or freezer breaks down due to sudden and accidental damage or stoppage your business is covered for up to $5,000.

  • Demolition and costs

    Your insured property is covered for any necessary costs from the likes of demolition, temporary repairs, or clearing.

  • Employees’ effects

    Up to $5,000 cover for the personal belongings of your executives and employees at work.

  • Equipment breakdown

    Your business is covered for loss caused by or as a result of an accident to your business equipment.

  • Expediting cost cover

    If you have to reinstate any insured property we will compensate your business for the reasonable additional costs of express freight or overtime labour to speed up the reinstatement.

  • Hazardous substance emergencies

    If the New Zealand Fire Services makes a charge against you for any hazardous substance emergency arising from or in connection with any insured property, your business liability is covered for up to $20,000.

  • Money cover

    Ease your business’s financial worries with cover that protects you and your business from money loss, damage or theft. Limits do apply.

  • Professional fees cover

    Your business is covered for professional or clerk works fees, salaries or costs you incur as a result of restoring damage to your insured property.

  • Protection cost cover

    If you take any protective measures to control a loss that involves or threatens your insured property, we will cover any costs you reasonably incur, up to a maximum of $100,000.

  • Redundant plant

    We will cover redundant (no longer needed or used) interdependent plant, spare parts of insured property following loss or damage covered under the Business Assets section of the policy.

  • Stock cover

    We will cover you for unavoidable permanent loss of value of undamaged stock as a result of loss or damage to other insured property covered by the Business Assets policy.

  • Rewards cover

    We will cover a reward, pre-approved by us, which your business may need to pay for the purpose of protecting or recovering any insured property.

  • Smoke damage cover

    If your building is damaged by smoke or water used in extinguishing a fire in a neighbouring property, it’s covered as fire damage in this policy.

  • Social club cover

    If your business has a social club, sports club or similar with activities that benefit your employees, we’ll cover that club’s property as if it were owned by you.

  • Stolen keys cover

    If your business needs to alter or replace any locks or keys because they were stolen or illegally duplicated, we’ll cover you.

  • Subsidence and landslip cover

    In the event a subsidence or landslip damages your property we’ll cover your business for the loss up to $100,000. A $10,000 excess applies to this benefit.

  • Temporary removal cover

    If your business has any insured property (except stock) that is temporarily moved to any place in New Zealand we’ll cover it.

  • Transit cover

    Up to $20,000 cover for insured property while in transit within New Zealand.

  • Theft from locked vehicle cover

    In the event any insured property is stolen from a locked vehicle we’ll cover the insured property for up to $20,000.

  • Theft / Burglary cover

    Up to $20,000 cover for your business for theft of your insured property (not including shoplifting).

  • Unharmed property cover

    If your business needs to pay any necessary damage costs as a result of restoring your unharmed insured property, you’ll be covered up to the sum insured.

  • Natural disaster damage cover

    If your insured property is damaged by earthquake, hydrothermal activity, geothermal activity, subterranean fire, volcanic eruption or tsunami, we’ve got you covered.

  • Reinstatement cover

    Your insured property is covered for reinstatement in the event it is lost or damaged beyond repair (subject to the special provisions covered in Section One of the Business Asset section of the policy wording).

Important: This is a summary only. For a full outline of the policy terms, conditions and exclusions please read the policy wording (below) and the certificate of insurance.

Our guarantee

If you are not completely happy with your policy, please tell us within 30 days of its commencement date. We may agree to change the policy to suit you. If not, and you wish to cancel the policy, you can as long as you have not made any claims. We will then refund any premium you have paid and we will both regard this policy as never commencing.
Underwritten by TOWER Insurance Limited
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Request a business insurance quote

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Call us on
0800 379 372

Business Asset Insurance full policy documents

Business Asset Insurance full policy documents

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Document altering TOWER Tailored Business Policy