For any business whether small, medium or big, getting an office insurance cover can help to protect against any possible incident within your premises. There are four main office insurance options that you need to understand well and apply to your office operated business.
Buildings and contents insurance
This covers your business's buildings, i.e. the office blocks, staff houses, stores, warehouses, etc. You need the building insurance to protect your premises if your business owns the buildings. You receive compensation in case the office or premises get badly damaged due to bad weather like an earthquake or a fire outbreak. You have to submit a claim to the insurance provider for repairs and renovations. In addition, the contents insurance covers are your office equipment and furniture like computers, printers and scanners, desks, cabins, etc. You get compensated in case they are stolen or badly damaged.
Employer's liability insurance
This covers your business's human resource, i.e. the working staff, volunteers and freelance workers. This insurance is a legal requirement for every business. It protects you in case someone from your workforce gets in an accident at the workplace or their belongings get damaged while they are at your workplace. This helps to boost confidence and motivation in your staff to know that whatever happens to them while at work, they will be compensated with this kind of office insurance cover.
Public liability insurance
This covers your customers/clients while they are within the business premises. In case your business has customers visiting the business's premises, then you will have to obtain the public liability insurance coverage. It's your role to ensure that your premises are risk free, and this includes protecting your clients with an insurance cover. This means that if a client or visitor gets injured at your office, then your insurance has to compensate them for the costs of injuries caused to them and their belongings.
Business interruption insurance
This insurance compensates you for any lost returns or income during a certain period of time of inactivity. The option offers funds for your company in case it cannot operate for some time due to several reasons like office renovations and may lose out to its business rivals. All you need to determine is how much funds in terms of a financial cover you need and for what period of time you want the cover to last so by the end of that period your business resumes straight away.
Getting all the above office insurance options improves your business operations without encountering any obstacle. The reason is that you will be very confident knowing that whatever may happen to your business, you always have a stand-by rescue insurance to get you out of any business-related disaster. Not only does this help you to meet legal requirements, it also supports your business to succeed in the longer run.
For more information about office insurance, contact a local insurance company.