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Do I need commercial real estate insurance for a shared office?



If you work in a shared office space, it is important that you are protected against specific risks. If your business operates outside of a coworking space, a commercial property insurance policy provides additional protection. Office furniture and equipment owned by your company will be expensive to replace if a fire or other disaster occurs. Your commercial real estate insurance policy covers the cost of replacing lost or damaged furniture and equipment.

Coworking Spaces and Insuring Your Business

Your corporate lease may require you to have special insurance. General liability insurance and commercial property insurance are crucial, even if you run your business in a joint office. Even if your company is not responsible for maintaining the office space, your company can be held liable if damage occurs in your area. Make sure you have the protection provided by commercial property insurance and liability insurance, no matter where your business is located.

Coworking has become one of the most popular choices for small business owners. Coworking facilities offer a range of amenities that are extremely attractive. But even with all the benefits and advantages, your business can be in jeopardy. Because the area is divided, you need protection against the risk of lost, stolen or damaged property.

The owners or managers of a shared office will have corporate and liability insurance, but your companies' assets will not be covered. In the event of a disaster, privately owned equipment and furniture must be replaced. If your business operates in a shared office space, it is wise to invest in a commercial property insurance policy, which can be very affordable and a lifesaver in the event of a disaster.

Protect your corporate assets in a shared office space

Your business-owned equipment, including laptops, computers, business files, private customer data and products in a shared office space, must be protected against the risk of loss. These items are not covered by an owner's or trustee's insurance policy. The cost of replacement can be in the range of tens of thousands of dollars. If a natural disaster, theft or other situation leads to the loss of your companies' assets, you can recover the cost of compensation through your commercial real estate insurance.

What type of commercial property insurance is right for a shared office? [19659003] A small business can be protected against losses with different types of policies. Available types of insurance include:

  • BOP (business owner package) Insurance : Many small businesses qualify for an accompanying BOP insurance, which combines general liability insurance and commercial property insurance. BOP is often the best choice for companies working outside shared office space, as the cost is lower than buying general liability insurance and commercial property insurance separately.
  • Professional Liability Insurance : This type of insurance covers a company against damages. related to errors in professional services. Often referred to as E&O, or incorrect and non-existent insurance, the insurance protects against allegations of negligence, inaccuracies or incorrect representations.
  • Commercial Real Estate Insurance : These insurances protect against the cost of replacing your corporate furniture and equipment, which is not covered by the coworking space policy.

Is your company covered?

Get help from an experienced insurance agent when buying commercial real estate insurance. Not all carriers offer insurance coverage for companies working in coworking facilities.


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