What is office insurance?

What is office insurance?

• just as the term suggests, it is insurance specifically designed to provide cover for those who run a business from an office;
• it protects you, your employees, your buildings and contents, and your equipment and premises against a number of risks which could otherwise see your business temporarily shut down and / or cause it severe financial distress;
• here at Specialist 4 we offer what we believe is cost-effective, comprehensive protection for your office that can be tailored to meet your needs;

What does office insurance typically cover?

What does office insurance typically cover?    

It is important to note that not all office insurance policies include the exact same policy features and benefits, so what follows is what a typical policy covers. Where elements of protection are not included as standard (for example, business interruption cover) then in some cases they may be added to a policy for an extra premium.

• policies generally cover the buildings and contents against loss or damage caused by fire and flood etc;
• depending on what you do in your office, you may require cover for computer breakdown including loss of data, as well as theft of office equipment and cash (if stored on the premises);
• business interruption cover prevents loss of income due to an insured event. This is where, should your offices become temporarily uninhabitable, such as due to fire or flood or other damage covered by your policy, the insurance will pay out a sum that will enable you to set up premises elsewhere and so continue your usual business activities;
• liability insurance typically forms part of office insurance;
• liabilities might include public liability, in the event of injury or property damage to members of the public or customers visiting your premises or otherwise suffering loss as a result of your activities. Offices are typically safe places to work, but slips and trips can still happen;
• employers' liability may also be included – and, indeed, is almost certain to be a legal obligation if you employ others in your office:
• some policies also protect you against any damage caused by terrorism.

Who is office insurance suitable for?

Who is office insurance suitable for?

• as already mentioned this type of insurance is suitable for any business that runs from an office;
• this insurance typically should give any business owner the peace of mind that should something happen to their office, they won’t lose out financially and their business will continue to run with as little interruption as possible;
• with some policies, it may also provide insurance cover that any employer is legally obliged to have - for example, employers’ liability insurance. It is important, however, that you check what the cover entails if you are unsure and never assume that it is included as standard.

Summary

Summary

The importance of office insurance should not be under estimated. It provides wide-ranging protection across a number of different hazards, meaning that your business can keep on going, no matter what life throws at it.