What is office insurance?
An office insurance policy is there to make sure that your business premises are covered against disasters such as a flood or fire, accidents, acts of vandalism and burglary. Your office is your home from home – many people spend more time in their office than they do at home, so this is an essential environment to protect.
You can’t really afford not to be covered – if a flood destroyed your office equipment and fixtures and fittings, the loss of income while you take time to get back up and running can be devastating for a business. In the worst case, the business may even fold.
What does office insurance include?
The first thing you need to check is what an office insurance policy will include cover for.
Office insurance typically includes:
- Office contents insurance
- Office buildings Insurance
- Business interruption
- Public liability
- Employer’s liability cover
Imagine you were to pick your office up, then turn it upside down. Everything that falls comes under the umbrella of contents and everything that sticks is classified as part of the building. All office insurance policies should include contents cover as standard, so that everything can be replaced in the event that it is damaged or destroyed.
Next, think about what else you need covered as part of your policy. No two offices are the same. If your office has floor to ceiling windows, is the glass covered? Are visitors’ belongings covered? Is the artwork on the walls in the reception area covered?
You may want to choose a business interruption insurance policy, as this covers your business if it has to stop trading due to an incident like a fire or flood. The insurance company will process your insurance claim quickly as as the longer it takes, the larger the amount they are likely to have to pay out.