Business storage insurance for your stock and equipment

Goods in Storage cover can include stock and equipment you use in a small business, stored at an SSIA approved facility.

Get A Quote (Goods in Storage)

General advice only. It does not consider your objectives, financial situation or needs. Read the Product Disclosure Statement (PDF, opens in a new tab) and Target Market Determination (PDF, opens in a new tab) before deciding if Goods in Storage insurance (called SSIA Storage Insurance in the PDS) is right for you. The quote button opens the SSIA quote portal.

Trolley stacked with labelled cartons in a storage unit corridor

What a small business might store

The cover is designed for contents used in a small business as well as household goods. Common examples include:

Stock: Retail or online stock waiting to be sold, stored at an approved facility.
Equipment: Tools and equipment kept in the unit between jobs.
Archives: Boxed business records and files. Deeds and securities are excluded.
Seasonal goods: Displays, stock and fit-out you only need for part of the year.

How the cover works for a business

Cover is for physical loss or damage directly caused by the insured events listed in the policy schedule. Business goods change value and move often, so each row sets out what the cover can include, what it leaves out, and what the policy asks of you.

Insured events in the policy schedule

Accidental damage
Fire
Lightning
Impact
Explosion
Earthquake
Tsunami
Aircraft
Riots and strikes
Malicious damage
Rainwater
Storm or tempest
Theft following forcible entry

These are the insured events listed in the policy schedule. Your own schedule confirms your cover. Theft is covered only following forcible entry. Rainwater is not flood, and flood is excluded. The Product Disclosure Statement (PDF, opens in a new tab) and Target Market Determination (PDF, opens in a new tab) set out the full terms, conditions, limits and exclusions.

Your stock and equipment

Goods used in a small businessStock, equipment and other contents you use in a small business, while they are inside your storage unit.

Deliveries and dispatchGoods in transit, or while they are being loaded into or unloaded from the unit.
Theft by staff or familyTheft or dishonesty by employees or agents who work only for you, or by an immediate family member.

Packing for storageStore and pack goods so they can withstand normal storage conditions. Loss or damage caused by poor packing or preparation is not covered.

Loss and damage

Loss or damage from an insured eventPhysical loss or damage directly caused by one of the insured events listed above. Your own policy schedule confirms your cover.

FloodWater that escapes from a lake, river, creek or other natural watercourse, or from a reservoir, canal or dam.
Wear, pests and mouldNatural ageing, gradual deterioration, rust, corrosion, insects, vermin, mould and mildew.
Equipment breakdownAn item's own electrical or mechanical fault or breakdown.

Reasonable careTake all reasonable care to protect your goods and keep them in good condition. Shelving that keeps stock off the floor is a simple start.

What a claim pays

A sum insured and term you chooseYou set the amount and the number of months, up to 12 months. Policies are not renewable, so for longer storage you take out a new policy.
Items listed individuallyHigher-value items listed in your schedule are settled at the value agreed and shown there.
Items not listedSettled at their market value immediately before the loss, or on the basis shown in your schedule. This is not new for old cover.

Lost income and delayConsequential loss, including loss of profits, loss of contract and loss due to delay. This is not business interruption cover.
Legal liabilityLegal liability of any kind, including to customers or other people.
Unexplained loss or shortageAny unexplained loss, disappearance or shortage.

An adequate sum insuredIt is your responsibility to make sure your sum insured is enough to replace, restore or repair your goods. Allow for the most stock you expect to hold during the term.
An itemised inventoryYou must keep an accurate, itemised inventory of all the goods you insure. It is a condition of the policy, so keep it current as stock comes and goes.
The excessThe excess is $250 for each claim, as shown in your policy schedule. It is subtracted from any covered loss that is paid.

Excluded goods businesses often hold

These goods cannot be insured under this cover, or only below set values. The full list is in the Target Market Determination.

Flammable liquids, gas and oilSuch as petrol, kerosene, LPG, aerosols, diesel and engine oil.
Hazardous chemicalsExplosive, corrosive, oxidising, flammable or toxic, such as chlorine or fertiliser.
Paint and bulk tyresAny paint, and tyres stored in bulk.
Money and bullionIncluding notes, coins, deeds, securities, precious stones and precious metals.
Jewellery and watchesUnless valued under $500 an item and $1,000 in total.
Paintings and artworksUnless valued under $2,500 an item and $10,000 in total.
Perishables
Tobacco and cigarettes
Alcohol, wine and beerUnless stored in the dedicated, climate-controlled wine and spirits area at your storage facility.

This is a summary. The Product Disclosure Statement and Target Market Determination set out the full terms, conditions, limits and exclusions.

It protects the goods, not the business.

Goods in Storage insurance responds to physical loss or damage to the goods in your unit. It does not cover lost profits, delays, lost contracts or legal liability of any kind.

If your business needs that kind of protection, it needs a separate policy. Check what your existing business insurance includes.

Your path to a quote

Have your inventory to hand before you start. It makes the sum insured easier to choose.

It takes four steps, from checking your facility to buying online. See the four steps to buy

Get A Quote (Goods in Storage)

Read the policy documents

The Product Disclosure Statement and Target Market Determination explain the full terms and who the cover is designed for.

Common questions

Can a business insure goods in a storage unit?

Yes. Goods in Storage insurance can cover household goods, personal effects and contents, including those used in a small business, while they are stored at an SSIA approved self-storage facility. Cover is subject to acceptance.

Will it cover the income I lose if my stock is damaged?

No. Consequential loss is excluded, including loss of profits, loss of contract and loss due to delay. The policy responds to physical loss or damage to the goods themselves, up to your sum insured.

Are deliveries to and from my unit covered?

No. Cover applies while goods are inside your locked storage unit or secured area. Goods in transit, or being loaded or unloaded, are not covered.

What if an employee takes stock from the unit?

Theft or dishonesty by employees or agents who work only for you is excluded. So is theft or dishonesty by an immediate family member.

What records should I keep?

You must keep an accurate, itemised inventory of the goods you insure. It is a condition of the policy. Receipts, invoices and photos help show what you had and what it was worth if you ever need to claim.

Choose your sum insured and months of cover.

You choose the sum insured and the months. The PDS sets the terms. Get a Goods in Storage quote online for the stock and equipment you keep in storage.