What is Office Insurance?
Offices are often safe places until they are not.
With so many people, employees, documents, and confidential information, a lot of things can go wrong. When things go wrong, there must be some sort of protection to save you from the serious financial repercussions. Whether it is an employee tripping over a loose wire or a cyber attack or on your customers’ data, it is a financially straining for the company. Or if there is some sort of business interruption and you cannot use your office, how will you manage to pay for the overheads and rent?
So, office insurance policy is the perfect protection when things go wrong. It covers your business in the unfortunate incidents or during tough days when you are out of business. It is not just about the office place, but it usually includes several other things such as contents, employees, public liability, legal fees, and sensitive information.
Why to Compare Office Insurance Quotations
According to insurance experts, shopping around is the key to save money. If you are looking for a cheap insurance policy to protect your office, you should get quotes from at least three to four insurers and compare them. Quotation comparison helps you get,
- Cheap office insurance quotes
- Office Insurance Coverage as per your needs
- Get special discounts
- Additional benefits
The comparison will not only land you to the cheapest quote but it will also ensure reliability and reputation of the insurer.
Office Insurance at Ensurance Compare
Ensurance Compare, the UK’s premium insurance comparison website with an extensive list of insurers on its panel, is a platform to learn, explore and choose the best office insurance policy for you. With specially designed system that allows us to customize quotes according to your requirements and business profile, we have helped businesses of all sizes, industries, and scope. Instead of offering standard prices and premiums, we are always working on bringing exclusive offers to our clients that they can purchase through a single click. We believe that every business is unique and needs a unique policy for its protection. Therefore, at Ensurance Compare, we give business owners and entrepreneurs a chance to build and compare their own customized office insurance, commercial property insurance, landlord or home insurance quotes.
Here are some of the features that make us great!
Office Insurance vs. Commercial Property Insurance
A frequent question that arises is does a business need office insurance if it has a commercial property insurance. The commercial property insurance and office insurance are two separate types of insurance policies. While commercial property insurance can cover physical premises as well as content of the business, office insurance is usually more extensive offering protection for employees and intangible assets. If you own a commercial property policy, you may still need an office insurance policy to bear financial expense.
Things Included in Office Insurance
While you can build your own customized insurance policy, here are some of the common features that are the part of office insurance policy.
Content Insurance Policy
Office machinery is an expensive investment. From printers, computers, coffee machines, Phones, Video Conferencing equipment to furniture and CCTV, it is important to have coverage for replacement or repair. You should compare the extent of content coverage in the discounted office insurance quotes and choose the one that provides the expected level of coverage. It is especially true for the businesses working with specialized equipment.
Legal Cost Cover
Not every time the loss is physical. If you offer consultation to your clients, you can face serious financial complications if a client sues you. The professional indemnity cover acts as a line of protection to cover your legal fees. It cannot only cover court expenses such as lawyer’s fees, but may also cover compensation money in case you are penalized. So, if you are running a consultation business, you should consider adding professional indemnity cover to your office insurance policy.
Personal liability coverage is a legal requirement for a business before it can hire employees. But, if your business model involves extensive customer dealing and you cater customers on your location, you should also consider public liability. For example, a handicapped person trips over the ramp of your office and needs medical help. The public liability will save you from bearing the expense.
What if you cannot work from your premises due to some incident or repairs, how will you pay the overheads? A business interruption cover helps you in this situation. Depending on the limit of your coverage and extras, it can help you pay office rent, overheads, salaries, and bills. The business interruption cover can act as a buoyant force in the tough times and can keep your business afloat. You can customize the coverage limits and duration of indemnity according to your needs.