Small business owners in regional areas like Horsham face a wide range of environmental and operational risks. A bushfire can sweep through with little warning. A sudden hailstorm can damage vehicles, stock or roofing. And rural properties are not immune to theft or vandalism.

Property insurance is designed to help you recover from some of these kinds of events—but only if your cover reflects your current risks and asset values. In this post, we’ll explore how to keep your insurance up to date, avoid common pitfalls, and better protect your business.

Why regular reviews matter

Too often, small business owners set up property insurance when they first launch—and then leave it unchanged for years. But as your business grows or changes, so does your risk profile. You may have:

• Renovated or extended your premises

• Purchased new equipment or stock

• Started storing goods differently (e.g. outside or in portable buildings)

• Changed the way you operate (e.g. more online trading or foot traffic)

If your policy hasn’t been reviewed recently, you might be underinsured—or missing key items altogether.

What property insurance can cover

Property insurance can be tailored to your business and may include cover for:

• Buildings and fit-out

• Contents, tools and equipment

• Stock and inventory

• External structures, such as signage, fencing or awnings

• Glass breakage

• Theft, attempted theft and malicious damage

• Storm, hail and fire damage

• Temporary closure or relocation costs

Each policy is different, and what’s included (or excluded) can vary significantly. That’s why it’s important to understand the details—not just the headline figure.

Risks in regional areas

Small businesses in rural or regional settings often face higher exposure to certain events:

• Bushfires: especially in high-risk seasons, cover may be subject to specific terms or exclusions.

• Hail and storm damage: can be sudden and severe, damaging roofs, signage, vehicles and outdoor stock.

• Theft and break-ins: isolated or unattended properties may be more vulnerable.

• Water damage: from heavy rain or plumbing failure, especially in older buildings.

• Power surges or outages: damaging electronics or refrigeration.

Many of these risks can’t be eliminated—but they can be mitigated through risk management and insurance.

How to stay protected

Here are a few practical ways to reduce your risk and ensure your insurance is fit for purpose:

• Conduct a property audit every year—list your major assets, their values and any recent changes.

• Update your insurer when you expand, relocate or purchase new equipment.

• Check policy limits and sub-limits—especially for high-value items, seasonal stock increases or temporary locations.

• Invest in preventative measures, like alarm systems, fire extinguishers and surge protectors.

• Take photos and maintain receipts for assets and improvements.

• Review your sum insured regularly to reflect current replacement values.

The role of insurance

Even the most risk-conscious business owner can be caught off guard. Insurance exists to help you recover from the unexpected—so you can reopen your doors, repair damage and get back to serving your customers.

Up-to-date property insurance means:

• No nasty surprises at claim time

• Faster processing and payout

• The ability to bounce back with minimal disruption

Let us review your cover

At Western General, we work with small businesses across Horsham and regional Victoria. Whether you run a shopfront, trade service, home-based operation or farm business, we can help check that your insurance reflects the true value of what you’ve built. Contact us here.

The information in this article is of a general nature only and has been prepared without taking into account your individual objectives, financial situation or needs. You should consider whether the information is appropriate for you and consult a qualified insurance adviser before making any decisions regarding insurance products.

Photo: Travel Victoria