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Business equipment insurance

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Jack
Absolutely brilliant company to deal with. Farhan was extremely helpful, friendly and very efficient from start to finish and have helped us get funding with minimal interest rates which will help...
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Jul 21, 2025
Canada Business Leasing
Love working with this group.
Jul 17, 2025
Lindsay
Cynthia made the process really easy, the customer service was great through out the whole process. Would definitly recommend talking with Swoop and Cynthia!
Jul 11, 2025
Jamal Ogungbola
Great experience from start to finish, helped us secure funding for a new dryer for an independent care home. Very grateful to Adrian and Nichola for their support throughout.
Jul 8, 2025
Darpan
Awesome Service! Very professional and quick processing .Thank you !
Jul 6, 2025
Iulia Popescu
James has been absolutely fantastic throughout the entire funding process. He guided us with clear, straightforward advice and was always quick to respond to any questions we had. Thanks to his...
Read More
Aug 5, 2025
Mr B
Simple- Helpful - Accurate
Aug 5, 2025
Jodie Marshall
At a time when I needed some extra funding for my business, I went to SWOOP. They were absolutely amazing. My business is a social enterprise, we so have a not for profit clause which often means...
Read More
Aug 5, 2025
Neil Jones
Just when you need that additional business boost, Swoop have you covered. Fantastic turnaround from Adrian and team. They kept me fully informed from start to finish, and with a follow up to make...
Read More
Aug 4, 2025
susan allan
had an amazing experience with BEN nicest taxi driver ever . helped us with a stressful end to the night and couldn’t thank him enough staying with us until we were all safe . if anyone needs a taxi...
Read More
Aug 3, 2025
Jack
Absolutely brilliant company to deal with. Farhan was extremely helpful, friendly and very efficient from start to finish and have helped us get funding with minimal interest rates which will help...
Read More
Jul 21, 2025
Canada Business Leasing
Love working with this group.
Jul 17, 2025
Lindsay
Cynthia made the process really easy, the customer service was great through out the whole process. Would definitly recommend talking with Swoop and Cynthia!
Jul 11, 2025
Jamal Ogungbola
Great experience from start to finish, helped us secure funding for a new dryer for an independent care home. Very grateful to Adrian and Nichola for their support throughout.
Jul 8, 2025
Darpan
Awesome Service! Very professional and quick processing .Thank you !
Jul 6, 2025
Iulia Popescu
James has been absolutely fantastic throughout the entire funding process. He guided us with clear, straightforward advice and was always quick to respond to any questions we had. Thanks to his...
Read More
Aug 5, 2025
Mr B
Simple- Helpful - Accurate
Aug 5, 2025
Jodie Marshall
At a time when I needed some extra funding for my business, I went to SWOOP. They were absolutely amazing. My business is a social enterprise, we so have a not for profit clause which often means...
Read More
Aug 5, 2025
Neil Jones
Just when you need that additional business boost, Swoop have you covered. Fantastic turnaround from Adrian and team. They kept me fully informed from start to finish, and with a follow up to make...
Read More
Aug 4, 2025
susan allan
had an amazing experience with BEN nicest taxi driver ever . helped us with a stressful end to the night and couldn’t thank him enough staying with us until we were all safe . if anyone needs a taxi...
Read More
Aug 3, 2025

Page written by Chris Godfrey. Last reviewed on September 21, 2024. Next review due April 6, 2026.

What is business equipment insurance?

Business equipment insurance protects you from financial loss in the event that the vital tools and equipment you use to carry out your trade or business are lost, damaged, or stolen. Suitable for companies, partnerships, sole traders, and the self-employed, business equipment insurance can protect portable tools, office equipment and contents, laptops, mobile phones, and machinery that is owned or leased by you or your business partners.

Business equipment insurance comes in three main categories:

Business equipment cover

Protects the essential equipment you need to keep your business running. For example:

  • Office desks and chairs
  • Computer and communications equipment
  • Hair stylist and beauty salon tools and equipment
  • Shop shelving systems and display cabinets
  • Point of sale equipment, such as tills, card readers, and bar code readers

Owned plant, equipment and tools insurance

Designed for tradespeople, this protects the specialist tools and equipment you own and use in your business. For example:

  • Trailers
  • Cement mixers 
  • Portable tools – saws, drills, step ladders, etc
  • Site huts
  • Light and heavy machinery, such as a lathe, table saw, crane or bulldozer

This cover may also provide limited protection for loss of stock in trade, such as piping, flooring, electrical equipment and timber that you have purchased but not yet used to complete a project.

Hired-in plant cover

Hired-in plant insurance protects equipment that you may have hired and that is not covered by the lessor’s insurance. For example:

  • Rented caravans
  • Rented site huts and cabins
  • Light and heavy machinery, such as diggers and scrapers

Who needs business equipment insurance?

No matter if it’s a hammer, camera, computer, power-wash, trolley-jack, or even a tattooist’s kit, every business needs tools and equipment to deliver the goods and services they sell. Think about it. What would you do if suddenly, all your essential equipment went up in smoke? Could you afford to buy replacements immediately? Could you even stay in business? For most SMEs, losing the tools of their trade would be catastrophic – and that’s why every UK business needs equipment insurance to prevent disaster if the worst should ever happen. 

What does Insurance for business equipment cover?

Business equipment insurance pays for the replacement of essential tools, equipment and machinery in the event they are stolen, damaged, or lost, up to the maximum value of your policy. 

Covered events include:

Fire

Covers damage, destruction and loss caused by fire.

Example: A fire in your tanning salon destroys the sun-beds that your customers use.

Theft

Covers loss should your business equipment be stolen, including theft by employees or contractors.

Example: Someone breaks into your garage and steals your expensive diagnostic equipment.

Flood

Covers damage, destruction and loss caused by flood.

Example: Burst water pipes flood your photography studio, destroying cameras, lights and accessories.

Loss

Protects you should you lose items of equipment.

For example: You leave your laptop on the train, and it is never handed in or returned.

Accidental damage

Covers against accidental damage or destruction of equipment.

Example: You spill a drink on the photo-copier, causing the electronics to burn out. 

Why is equipment insurance important?

No business can entirely eliminate the chance of their important equipment being lost, stolen, or damaged. If things do go wrong, the financial impact your equipment loss could be a lot higher than the cost of repairs or replacement:

  • You may lose days or weeks of revenue while you try to repair or replace the lost or broken equipment.
  • If you’re not trading, your customers may look elsewhere. Some may never come back.
  • You could miss important deadlines that cost you future work or result in financial penalties.
  • You may not be able to earn enough to keep your best employees.
  • Financial stress could impact your ability to secure loans or pay your taxes on time.

Equipment insurance is designed to quickly cover the cost of repairs or replacement to lost or damaged equipment, allowing your business to get back to normal as fast as possible and minimize any disruption. 

In a nutshell, equipment insurance is important because it could be the difference between survival or closure of your business, and the losses that you may incur by not having business equipment cover could far outweigh the cost of any policy. 

How much does business equipment insurance cost?

Some policies can cost as little as £4 per month, but premiums will vary depending on your business type, the industry you work in, the value of your equipment, and the excess you agree to pay. 

Other equipment insurance points to keep in mind:

All insurance policies come with an ‘excess’ – this is the sum you agree to pay as part of any claim. Generally, the higher the excess you agree to, the lower your policy cost will be. However, make sure you do no not set an excess amount that is higher than the value of the equipment you are insuring. Also be aware that some policies may have exclusions, such as mobile phones or laptops, so always check the fine print to ensure you receive the cover you want. Lastly, always keep copies of the receipts from any equipment purchases and take photographs of the items that you want insured. This can speed up the process should you need to make a claim.

How Swoop can help

All business involves risk, but that doesn’t mean you have to suffer the consequences if things go wrong. Don’t gamble with your organisation’s future. Contact Swoop today to compare top-quality equipment cover from different providers and to discuss all your business insurance needs. 

Written by

Chris Godfrey

Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Barclays Bank, Metro Bank, Wells Fargo, ABN Amro, Quidco, Legal and General, Inshur Zego, AIG, Met Life, State Farm, Direct Line, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world of consumer and business finance and insurance.

Swoop promise

At Swoop we want to make it easy for SMEs to understand the sometimes overwhelming world of business finance and insurance. Our goal is simple – to distill complex topics, unravel jargon, offer transparent and impartial information, and empower businesses to make smart financial decisions with confidence.

Find out more about Swoop’s editorial principles by reading our editorial policy.

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