General Insurance Policy Concepts
3 Docs
What is General Property Insurance
Last Updated: June 3, 2025General Property Insurance provides cover for portable tools, equipment, and electronic devices that are used for business purposes and taken off-site. It is ideal for tradespeople, consultants, and mobile businesses that rely on essential equipment away from their main premises. Common items covered under a General Property policy can include: Hand tools and power tools Laptops and tablets Mobile phones Surveying or testing equipment Specialist trade or professional gear Cover typically applies while these items are in transit, at a job site, or stored in vehicles. The policy can often be tailored by specifying individual items over a certain value, or applying a blanket limit across multiple tools.
How do I determine what my Insurance Policy covers me for
Last Updated: June 3, 2025The two key documents to review are your Policy Schedule and the Policy Wording. The Policy Schedule provides a summary of your cover. It outlines: Your individual policy limits Insured items Excess amounts, and Any special conditions or endorsements. The Policy Wording explains the cover in more detail. It outlines: What is included, What is excluded, How claims are managed, and Your responsibilities as the insured. If you are unsure how to interpret these documents or would like help understanding what applies to your business, we are always happy to walk through them with you and highlight the sections that matter most. Please feel free to contact us with any questions you might have.
What is a Certificate of Currency
Last Updated: June 3, 2025A Certificate of Currency (often referred to as a ‘COC’) is a document that verifies you have an active and valid insurance policy. It is provided once you have paid for your insurance policy. It is commonly requested by clients, principals, government departments, or licensing bodies before you begin work. The certificate outlines key insurance policy details such as: The insured’s name – i.e who is the policy covers Type of cover – i.e. does is cover for Professional Indemnity or Public Liability Policy limits – i.e. what is the limit of cover or sum insured The insurance period – i.e. the date the policy starts and finishes While it doesn’t include the fine print or policy terms (those are in the Policy Wording), it serves as proof of your active coverage. If you need one urgently, we can usually provide it on the same day by contacting us.