Why have Office Insurance?
Office Insurance protects your business in a number of ways. Firstly damage to, loss or theft of business contents / equipment or damage to your premises itself - such as burst pipes, stolen goods or fire. You could also be sued and suffer a claim from a client or a member of the public due to injury or illness suffered by them as a result of your negligence. Finally it is possible that in the event of a claim you could lose important revenue due to damage to your office premises and / or its contents, stock, computers, equipment etc. The most common type of claim in an Office policy is damage to contents & laptops, so it makes financial sense to have your valuable equipment and contents covered.
What is Business Interruption Cover?
Standard commercial property insurance does not cover the loss of income caused by the temporary closure of a business. This can be covered with your office policy. Companies take out business interruption insurance to cover financial loss as a result of your company becoming unable to trade for a duration of time due to a damage claim. When your business is not producing income, you will still incur fixed costs such as rent, utilities, etc. Therefore, business interruption insurance is an extremely valuable coverage for your business to have.
What is covered under office contents Insurance?
Contents covers anything in your office which is removable, such as computer equipment, office desks & chairs, and the items you have that help you to run your business can be covered as office contents.
Why do I need Public Liability Insurance?
While public liability insurance is not a legal requirement for some businesses, it should be considered essential if members of the public will be interacting with your company in any way - from deliveries to your office or clients visiting your office premises.
Is Office Insurance right for my business?
Office Insurance is suitable in the following situations. You run a small business either from home or an office. You own office equipment. Your business would be impacted by an equipment breakdown or interruption. You have office equipment such as laptops and smartphones you take out of the office.