A Guide To Commercial Office Insurance Cover Options

Posted on: 11 August 2015

If you run a small business from office premises, it's important to make sure that you have all the right elements of insurance cover in place.  Just like home insurance, commercial office insurance has a number of different cover options you can choose from to form a comprehensive policy. 

Here's a guide to the options available to you to help you make sure you're adequately covered.

Buildings cover

If you own office premises you must be insured against damage from flooding or fire, and you'll need a buildings cover component in your policy.  If the property is rented, this insurance should be covered by your landlord, but double-check before omitting this element from your policy cover options.

Contents cover

Even if you don't require buildings cover, you will need to insure the contents of your office against damage, loss or theft.  It's worth having your office contents valued by your insurer before you take out cover to make sure that you're not over or under-insured.  Remember to include items like laptop computers, tablets, mobile phones and other portable devices that may be taken off-site by your employees during the course of their work.

A commercial insurance policy differentiates between fixtures and fittings, and contents.  This means that you'll need separate cover for things like carpets, shelving, fixed units etc.  Similarly, if you carry stock at your office premises, this will need to be insured under a separate cover element and valued accordingly.

Shop front cover

An area of cover that is often overlooked is the front of your office premises.  This applies if your office has an exposed frontage looking out over the road outside.  You may have an awning, signage or a large, plate glass window which could be vulnerable to damage and as such this should be covered under your insurance policy.

Business interruption

If you were unable to run your business due to damage caused by a disaster to your premises or loss or theft of equipment, your losses would be covered if you have 'business interruption' cover.  This is another frequently overlooked cover option that could mean the difference between your business staying afloat or going under if you were unable to operate for any length of time.

Legal expenses cover

In the event that you found yourself on the wrong end of a law suit, legal expenses cover would protect you from the cost of defending a claim for issues like employment disputes, customer complaints or tax queries.

In conclusion

Owning a business is hard work and can be stressful.  Making sure you have adequate, comprehensive commercial insurance cover in place gives you the peace of mind to focus on running your office without worrying about what you'd do if things went wrong.  Discuss your requirements with your business insurance broker to find out more.

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