Business Protection insurance

• Provides cover for unforeseen losses or accidents.
• Customised benefits to fit your specific business needs.
• Get a quote in one easy phone call.

How this works

You start your policy with Business Assets cover. Once you have this cover you can choose to add other covers such as:

• Business Income
• Money
• Burglary
• Business Liability

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Business Assets

• Covers assets such as buildings, tools, plant, machinery, contents and stock.
• Choice of cover to suit your business needs.

You have the choice of two types of cover to insure your Business Assets:

Multi Risks are a broad type of cover for sudden and unforeseen accidental physical loss or damage to your business assets.

Specified Risk provide you with cover for sudden and unforeseen physical loss or damage to your Business Assets arising from these specified risks:

• Fire, lightning, explosion, thunderbolt.
• Water or oil discharged, overflowing or leaking from any water cooling or heating systems.
• Impact by vehicles and animals.
• Aircraft, aerial devices.

Benefits

	Accidental breakage of glass Replacement value of internal and external fixed glass that may be accidentally broken. In addition we also will pay up to $1,000 for emergency shuttering and repairs and $500 for signwriting.
	Additions and improvements Covers you for up to $5,000 for any additions or improvements to your building or plant.
	Electric motor burn-out Provides up to $1,000 of cover for electric currents burning out electric motors under 4hp.
	Fire extinguishers Covers you for up to $5,000 for the cost of refilling your extinguishers used to put out fires at your premises.
	Other contents Covers you for up to $200 per employee for loss or damage to their personal effects.
	Removal of business assets Provides cover for up to $5,000 for the cost of removal and temporary protection of your business assets.
	Temporary removal costs Covers you for up to $5,000 for your business assets when temporarily situated at other premises or by road transit.

Optional benefits

	Earthquake Provides cover for loss or damage arising from an earthquake, volcanic eruption, tsunami, tidal wave, geothermal or hydrothermal activity.
	Flood Provides cover up to the sum insured shown in the certificate of insurance for loss or damage caused by a flood. Please note that it does not cover you for loss or damage to gates, fences and awnings, as well as stock, plant, fixtures or fittings either in the open or not contained in fully enclosed buildings, or kept / stored less than 60 centimeters above the floor.
	Gale, windstorm, hurricane, cyclone Provides cover for loss and damage due to gale, windstorm, hurricane or cyclone. (Special conditions apply). List of Approved Engineers to issue Cyclone Engineers Certificates (PDF, 400kb)

Your choice of cover

You have the option to cover your Business Assets for replacement value (the maximum amount of insurance protection) or indemnity value (taking depreciation into account). This is important when it comes to claims.

Replacement value on buildings where we cover the cost of rebuilding, replacing or repairing your building to a new condition – up to a maximum of the sum insured.

Replacement value of plant where we cover the replacement or repair cost of your plant (other than motors) less than five years old.

Or

Indemnity value on buildings which is more limited and means we cover the cost of rebuilding or repairing your building to a condition no better than new, less an appropriate allowance for depreciation and deferred maintenance – up to a maximum of the sum insured.

Indemnity value of plant which covers costs to rebuild or repair your plant to a condition no better than new, less an appropriate allowance for depreciation (and some other factors) up to a maximum of the sum insured.

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Business income

• Cover for financial loss if your business is interrupted.
• Insurance keeps you in business while other insurance helps repair the damage.

Benefits

	Loss of business income Covers you against loss due to the loss or damage of a leased or rented business asset.
	Accountant’s fees Provides up to $2,500 of cover for accountant’s fees for claim preparation expenses when a claim had been accepted.
	Record keeping Offers up to $5,000 of cover for the additional or increased cost of working or rewriting your records.
	Prevention of access Provides cover for loss of business income if your customers are prevented from being at your place of business due to fire anywhere in Tonga.
	Supplier premises Provides cover for up to 5% for loss of business income if your supplier’s premise suffers loss or damage by fire anywhere in Tonga.
	Public utilities Provides cover for up to 5% for loss of business income resulting from interruption or interference to your business due to damage by fire occurring at any electric power station or sub-station anywhere in Tonga.
	Underground services failure Provides cover for up to 5% for loss of business income resulting from the failure of waste disposal systems and underground services situated on or immediately adjacent to your premises.

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Money

• Covers you against the loss or damage of cash and certain valuables.

Benefits

Loss or damage cover Covers the loss or damage of cash, credit card invoices and other negotiable securities during normal business hours at your premises, in transit to or from your business and whilst in your bank’s night safe, or contained in an approved securely locked safe at your premises outside business hours, Cover up to $1,000 for loss or damage to money while in your personal custody and in transit to and from you or your employee’s home until commencement of banking hours the next working day, or at your business premises outside business hours when not secured in an approved locked safe.

Safes and strong rooms Provides up to $1,000 of cover for loss or damage to your safes or strong rooms caused by burglars.

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Burglary

• Cover for loss or damage to your business assets.
• Cover for loss or damage to the premises at the location caused by actual or attempted burglary for which you are responsible under any lease or tenancy agreement.

Benefits

	Replacement locks and keys Up to $1,000 cover to replace keys and locks if they are stolen or unlawfully duplicated – helping relieve any burglary worries.
	Employee’s personal effects Covers you for up to $200 per employee for loss or damage to their personal effects.
	Temporary Removal Provides cover for loss or damage to your business assets arising from burglary when they are removed temporarily for cleaning, repair, renovation, display or promotional purposes.

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Business Liability

• Covers your legal liability as a result of loss or damage arising from accidents in connection with your business anywhere in Tonga.
• Provides cover for products exported to Australia, New Zealand or some South Pacific islands.

Benefits

	Overseas visits Covers your business following overseas business trips by you or your employees.
	Goods products Provides cover for the liability of your business in connection with products exported to Australia, New Zealand or some South Pacific islands.
	Social activities Provides cover for the liability of your business arising from social events organised by you.

Optional benefits

	Bailee liability Provides cover for the legal liability of your business as Bailee for goods in your physical and legal control.
	Service and repair liability Provides cover for the legal liability arising from work performed by you or your employees on any motor vehicle, or watercraft less than 5 metres in length, not owned by you or your employees.

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.