While there is usually no one size fits all when it comes to insurance, commercial insurance is designed to offer protection to a wide range of businesses and industries from broad coverage to niche needs. The functions of these companies can range widely, but one thing they have in common is office exposure. If your business occupies office space, it’s important to understand the value of office insurance and how it ensures you have the right coverage to protect yourself and your employees, customers and business.
What type of office insurance do I need?
No two companies are exactly the same, which is why commercial insurance offers a wide range of protection options. The first step is to speak with a knowledgeable agent who can walk you through questions about your business to determine the right office insurance for your situation. These factors may include:
- Regardless of whether you own or rent your office space
- The types of services you provide
- The location of your office
- Regardless of whether customers visit your premises
- Regardless of whether you keep cash on the premises or not
Does office insurance cover my office building?
If you require building cover, it is important that your agent confirms the replacement cost valuation of your building to ensure your coverage of commercial properties is sufficient.
Your office insurance should not be limited to the physical structure. When considering the limit of building contents, be sure to consider office furniture, fixtures and equipment. In addition to real property and personal property, you’ll also want to consider coverage for computer equipment, crime watchesart or other collections displayed in your office, accounts receivable coverage and outdoor real estate.
Do I need office insurance if I don’t own my office building?
Whether you own your building or not, it is important to have General liability coverage for your company. If you own the building, you are responsible for customers in your waiting room, and anyone who may use your parking lots, sidewalks, or common areas. If you rent your office space, your lease likely obligates you to carry liability coverage and name your landlord as a further insured.
Let Central help you find the right office insurance for your company.
Whether you’re starting a new business or expanding an existing business, finding the right office insurance is critical to protecting your employees and assets. Talk to your agent about key coverage options to protect your office and the business you’ve worked so hard to build.