Why do you need an Office Insurance Cover?

Are you running a successful business? You must know how important it is to ensure your clients are satisfied and your employees are motivated and happy. These are key aspects that help to further grow your business.

But have you considered what would happen if an unforeseen accident occurs at your workplace?

You may avoid such misfortune by investing in an office insurance policy. Several insurance companies offer a comprehensive coverage for your commercial premises. Here is a list of things that are usually covered under this type of insurance plan.

Policy inclusions

Some business insurance plans offer comprehensive coverage. If any damage occurs to your office due to the following, you will be covered under the plan.

1. Dishonesty or infidelity of personnel resulting in a loss
2. Insurance coverage against loss of money in transit or kept in the safe
3. Protection of office contents damaged in an explosion, lightning, or fire
4. Owner’s personal accidental coverage
5. Protection of office equipment and content due to burglary
6. Breakage of hoardings, fixtures, neon signs, or sanitary fittings due to an accident

Policy exclusions

While most office insurance policies offer comprehensive coverage, there are certain exclusions such as:

1. Fire and allied perils

• Destruction due to invasion or wars
• Loss occurring due to contamination or pollution
• Damages due to volcanic eruptions
• Destruction to unset precious stones, art works, cheques, books of account and other physical records, computer records, drawings, and manuscripts
• Loss due to radioactive toxic, explosives, or other dangerous properties
  

2. Housebreaking and burglary

• Damage to pedal cycles, livestock, or motor vehicles
• Any loss if your family member is involved in the burglary

3. Money insurance

• Shortage of funds due to omissions or errors
• Losses in case money is entrusted to any individual other than you or authorized personnel
  

4. Sanitary fittings and fixed glass

• Pre-existing damage to fittings or glass before policy commences
• Scratching, disfiguration, or damage to glass or fittings
• Breakage during repairs, removal, or alterations
• Damage when sanitary fittings or glass are not securely fitted

5. Hoardings and neon or glow signs

• Damages due to hail, rain, sun, flood, or other bad weather conditions
• Destruction because of short circuiting or other mechanical breakdowns

6. Personal accident

• Permanent disability or death caused by prolonged pregnancy or childbirth
• Weekly compensation until final amount is determined

Need for business insurance

An office insurance policy offers several benefits. Here are three such advantages.

1. Legal liability coverage against employees and third parties
2. Additional rent is covered in case you need to move to a new location due to the occurrence of an insured event
3. Compensation for bodily injuries or accidental death to your personnel

Several insurers offer such policies and taking advice from an experienced specialist is recommended. Such experts are able to help you find the policy that most appropriately suits the need of your business. So protect your business and insure your office today.