A Designers Guide To Understanding Portable Equipment Insurance

A designer without their tools of trade is just a recipe for disaster, right? Whether you’re a graphic designer, an interior designer or costume extraordinaire designer, you rely on things like your tablet, phone and design specific tools to construct your grand designs.  

You may be familiar with different types of designer insurances, but this guide is going to focus on one that’s all about those valuable tools and how you can protect them with Portable Equipment insurance*. 

What is Portable Equipment insurance? 

Covers you for loss and damage to your tools and equipment due to theft, fire and other perils listed in the wording, anywhere in New Zealand. 

So, you can rest assured knowing that your valuable portable business assets are protected from Auckland to Milford Sound, and everywhere in between. 

What’s typically covered? 

Loss or damage that is caused by: 

  • Fire, storm, water, explosion, impact or malicious damage 
  • Accidental damage 
  • Collision or overturning of the conveying vehicle 
  • Theft following forcible and violent entry to locked vehicles or locked buildings 
  • Theft of equipment securely attached to a vehicle through the use of locks or padlocks 

Specified portable equipment can include items such as: 

  • Mobile plant 
  • Photographic or video equipment 
  • Mobile communication equipment, including telephones and radios 
  • Electronic equipment, including computers, diaries, GPS units 
  • Accessories for the items listed above 

What’s typically NOT covered? 

Loss or damage to your portable equipment that is caused by: 

  • Wear, tear or gradually developing conditions 
  • Cracking, scratching, marring or breakage of glass or fragile items or surfaces 
  • Rust, oxidation, mildew, mould, moths, insects, vermin, dry rot, contamination or pollution 
  • Any process of heating, drying, cleaning, dyeing or alteration to any insured item 
  • Faulty materials or workmanship 
  • Theft by employees 
  • Unexplained inventory shortage 

Why might designers consider getting Portable Equipment insurance? 

When you take the time to actually add up the cost of your tools of trade, you might be surprised by how they are all worth. If your tools were stolen or involved in an insurable event, how would you be able to continue your day to day designing operations? 

Not only is there the time involved to try and replace your equipment which is important time away from your business, but there is the cost factor too. Would you be able to finically afford to replace all the equipment that you had? It’s a dent in the savings that a lot of small businesses could do without.  

Then there is the impact on your business and any projects which you might be working on. It might set you behind deadlines without having the right tools in place to help you complete the task at hand. 

How much does Portable Equipment insurance cost designers? 

How long is a piece of sewing thread? There’s no one size fits all pricing when it comes to Portable Equipment insurance for designers. Like other design insurance policies, a range of factors are taken into consideration to calculate the premium of the policy for your design business. 

The following are some of the things which are assessed when creating the pricing of a policy: 

  • The size of your design business 
  • The number of employees your business has 
  • Claims history 
  • Turnover of your business 
  • The type of work your design business conducts 

To get an accurate idea of how much a Portable Equipment insurance policy is going to cost your design business, it helps to have a chat with a business insurer. That’s where BizCover can help. 

Protecting your design business for the long haul doesn’t need to be a dramatic process. At BizCover we know how busy you are running your own business, so when it comes to getting your design business insurance sorted you can leave the shopping around to us. 

Whether it’s Portable Equipment insurance, Professional Indemnity insurance*, Public Liability insurance* or a mix of policies, at BizCover we take the hassle and stress out of getting your business insurance sorted.  

Visit bizcover.co.nz and get insurance for your engineering business without the stress so you can get on with your day. If you’d prefer to pick up the phone and chat, you can find us at 0800 249 268. 

*This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. © 2023 BizCover Limited. 

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