Office Insurance

Even the smallest business is likely to have some type of office – it may be a well-appointed showroom for all your front office sales pitches or it might be a more modest back office where the essential administration of your business is conducted. It might even be a home office.

Whatever the nature of the office or offices your business occupies, however, there is almost certain to have been some significant investment – an investment which needs the protection of the appropriate form of insurance.

That is office insurance.

What is office insurance?

What is office insurance?

At its simplest, office insurance provides just that – insurance cover against the losses and damage that might be incurred to the office used by your business.

But, just as there are very many different types of office – from the home office occupied by a sole trader, the modest administrative back office needed by many SMEs or the swanky offices of a major firm of professionals – so there are many different types of office insurance.

At Specialist4Business, we pride ourselves in our expertise and experience in arranging office insurance whatever your particular, individual needs and circumstances.

What does it typically cover?

What does it typically cover?

As explained, there is a wide range of different types of office insurance, but typically the following elements may be covered:

Building insurance

  • whether you are the owner of the office or ownership is with your landlord, the property needs the protection of building insurance against a range of potentially serious risks, which might lead to the possible total loss of the premises;
  • for that reason, building insurance is typically arranged to cover the cost of reconstruction following such a major disaster;

Contents insurance

  • as the occupier of the office (which you own or rent), you are likely to have an array of office and business equipment, apparatus and IT;
  • the contents are likely to have a considerable combined value and a detailed inventory needs to be made in order for you to arrive at the total sum for which contents insurance needs to be arranged;

Public liability insurance

  • offices are not generally regarded as dangerous places to visit, but the potential for mishaps, accidents, trips and falls is there nevertheless;
  • if a visitor to your office, a customer or member of the public trips or falls or otherwise injures him or herself or has property damaged as a result of your negligent maintenance of the office, you may be sued for a substantial amount in compensation;
  • for that reason, public liability insurance typically provides cover of at least £1 million, whilst major office blocks are likely to have cover for up to £5 million or even more;

Employers’ liability insurance

  • if you are responsible for employing anyone who works in your office or offices, the law requires that you have a minimum of £5 million employers’ liability insurance;
  • this is to make sure that you are able to meet claims that might be made by employees or former employees who are injured at work or contract a longer-term medical condition.

Who is office insurance suitable for?

Who is office insurance suitable for?

Office insurance is responsible for anyone who maintains an office from which at least part of their business activities are conducted.

This might be the one-man outfit working from a home office, an SME with an administrative back office, a firm of professionals (such as lawyers, accountants or architects) or those who own large corporate offices.

Summary

Summary

There are many kinds of office and each is likely to represent a significant business investment and a place on which day to day business operations rely. The office or offices used by your business, therefore, are almost certain to need the protection of office insurance.

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