O is for Office Insurance
It can include such a wide range of vital Insurance covers, all under one simple and reasonably priced package.
What’s included in Office Insurance
Office Insurance policies can vary sometimes, but typically most of them include or can be extended to include the following types of Insurance:-
- Damage to buildings
- Damage to Contents, Stock, Computers, Business Records
- Loss of Income or Gross Profit due to (insured) damage
- Employers Liability
- Public Liability
- Products Liability
- Commercial Legal Expenses
- Directors Liability
Who can buy Office Insurance
It goes without saying that you need to have an office of some description to buy Office Insurance (!), but it is available to most types of business in one form or another.
What to look out for in Office Insurance
Whilst Office Insurance policies provide a range of cover, we never encourage a ‘one-size-fits-all’ attitude, but believe that each business should have its needs carefully considered before Office Insurance is arranged.
Here is just a few things to consider when looking into Office Insurance:-
1. Check the sums insured and limits
Many Office Insurance policies come as packages that set out the limits and sums they will cover you for, unless you ask for more or less cover.
For example, if you just accept the limits provided, some policies might provide considerably less cover than you need for all your contents, or your income.
Most Office Insurance packages will come with Minimum Security Requirements, and it’s really important you comply with these. If you can’t, speak with a Business Insurance Broker who will be better placed to negotiate with the Insurers on your behalf.
3. Check for Stock cover
Many businesses that operate from an office don’t hold stock, but occasionally some businesses will need to. Not many Office Insurance policies give you an option to include damage to stock, which must be listed separately from general contents, unless it says otherwise. If you hold stock, check your Office Insurance policy to see if it is covered – you may find it is not insured.
Nearly every Office Insurance policy will come with a document referred to as a ”Statement of Fact”. This saves you having to complete a proposal form and instead the Insurance company lists a number of assumptions about you, along with the information you have provided. It’s important that this accurately reflects your business, otherwise your cover could be affected or in the worst case rendered void.
Get a quote for Office Insurance
We deal with Office Insurance often, and have access to some excellent products.
Contact us today for a quote on your Office Insurance.
Evans Insurance Brokers
Insurance Brokers in Essex, serving clients throughout the UK.