Unfortunately, unexpected events happen every day, and it’s important to ensure that your workplace is protected against any damage or losses that may occur.
If you are the owner of a business that operates in an office, office insurance policies can provide you with the protection that you need if things don’t go to plan. Read on to find out how Business Line Insurance can help you to protect your business today.
What is office insurance?
Office insurance cover will protect your business against a range of claims, financial risks and losses that are related to your place of work. The type and amount of cover that you require depends on several things. For example, the size of your company and the kind of work that you do.
What office insurance covers
Office insurance can cover your business in the event of any legal claims that are made by employees or members of the public whilst on your premises. In addition, it can also cover loss of or damage to any equipment in the event of a flood, theft, bad weather or fire.
Types of office insurance policies
There are several different types of office insurance policies that you should consider for your business. These include:
- Public liability insurance: Provides protection if your business activities kill or injure a member of the public who is visiting your premises. As the owner of your business, making sure that your office is as risk-free as possible is your responsibility, but if the worst should happen and an accident occurs then public liability insurance will ensure you’re covered for any compensation claims.
- Employers’ liability insurance: This is a legal requirement if you employ any member of staff (including permanent, temporary, contractors or freelancers). The minimum level of protection is £5m, which will cover the cost of compensation claims if they get injured or ill whilst working in your office.
- Business interruption insurance: Provides cover for financial losses if your business can’t operate from its premises as normal as a result of a fire, major theft or a flood.
- Commercial buildings insurance: Do you own your own office premises? If so, you’ll need to arrange for cover in the event of flooding, fire, bad weather or theft. This type of policy covers permanent fixtures such as toilets, kitchens, display units and built-in cupboards, and you’ll be able to claim for a total rebuild as well as repairs.
- Commercial contents insurance: This insurance provides cover for the contents of your office, such as chairs, desks, computers and any other office equipment. Office contents insurance will provide cover for any damage or theft, and it’s important to ensure that you have calculated the total cost of this correctly – if the worst were to happen and you have under-insured, you could be left out of pocket.
- Business assets insurance: Provides cover for the things that your business needs to operate from your premises, such as computers, mechanical equipment, tools, machines and stock.
- Cyber insurance: Provides cover against data breaches or cyber hacks that affect your computer systems and networks.
- Stock insurance: Provides cover in the event that your stock is damaged or stolen from your office.
- Theft of takings insurance: If you take payments in cash or your business deals in cash, then you may want added protection in case of theft from you, anyone working for you or your premises. In addition, this type of insurance will also cover money that is in transit during your office hours or that is left locked in your office overnight.
These are just examples of some of the types of office insurance policies that we look after at Business Line Insurance. As we know that no two businesses are the same, speak to us today to find out which policies will best meet your needs.
Do I need office insurance?
If your business operates from a specific premises or office, it’s important to have the correct cover in place to protect your operations. In the event of a claim being made against you as a result of an accident that has occurred at your office, or damage occurring to the equipment that you need to operate, would your business be able to take the financial hit? Would you be able to continue operating?
The cost of office insurance
At Business Line Insurance we understand that cost is important to your business, but it is crucial to ensure that you are properly protected in line with the risks your business faces. With that in mind, we will take the time to understand the specific needs of your business and recommend the amount of cover that is best suited to you.
What else do I need to know about office insurance?
An office insurance policy can also provide cover for accidental damage (for example to signage or glass), the personal property of employees or visitors to your premises, and any portable equipment that is taken away from the office such as laptops, cameras, tablets or mobile phones.
In addition, if you are a contractor or freelancer who works in a shared office/hot desk space, then you should check whether your personal possessions will be covered under the landlord/building owner’s buildings and contents insurance or public liability insurance.
How can I get office insurance?
Business Line Insurance have a team of specialist advisers ready to help you get the right protection in place for your business.
We will take the time to understand the specific needs of your business and are committed to delivering a completely personalised service, ensuring that you have the best possible cover at the best possible price.
To find out how much peace of mind costs, contact Glenn Bowles by calling: 020 3058 4309.