Commercial insurance does not suit everyone, but there are features that even very different companies have in common. Office is an exposure that almost every company has, from accounting firms to web engineers, and from a one-man office to a ten-story office building filled with hundreds of professional employees.
The coverage that your business needs depends on many things. These include:
- Whether you own or rent your office space
- The services you provide
- The location of your office
- Whether or not customers visit your premises
- Whether you have cash or not locally  Commercial package policies can collect real estate and liability, offer discounts and keep coverage simple. Expansion supplements can often be used to offer unintentional coverage at an affordable price.
If you need building coverage, it is a good idea to have the agent or carrier confirm that your building values the replacement cost to ensure that your coverage is adequate. When considering the limit of content, you want to be sure to account for office furniture, fixtures and fittings. In addition to your real and personal property, you want to consider coverage for computer equipment, law enforcement, art for all collections displayed in your office, accounts receivable and outdoor properties.
Whether or not you own your building, it is important to have general responsibility for your office. If you own, you have an obligation not only to your customers in your waiting room, but to everyone who can walk in your parking lot, sidewalks and common areas. If you rent, you are probably obliged by your lease to not only carry liability insurance but to name your landlord further insured. For example, Central's General Liability Plus offers this coverage automatically when required by a written agreement. This recommendation also offers other coverage that your office may need, including employment responsibilities, which is important for any business that registers its own employees in benefit programs.
Other coverages to consider for your office are cyber liability, commercial car (either on a separate policy for owned vehicles or leased and non-owned liabilities in the commercial package) and liability principles.
Talk to your agent about the coverage forms that Central can offer to protect your office!
The information above is of a general nature and your insurance and coverage may differ from the examples. Read your insurance policy in its entirety to determine your available coverage.
Copyright © 2021 Central Mutual Insurance Company. All Rights Reserved.