It is such a great matter of pride when you start running a business of your own. It feels like finally, you have achieved something in your life. Sitting in your new office gives you peace and courage. You need these for handling anything that comes your way. However, it is extremely important that you protect yourself and the office from future unforeseeable risks. These can seriously hamper your productivity and functioning in the long run. So, why not invest in office insurance and ensure your mental peace?
What does Office Insurance mean?
Before delving into more, let us just explain office insurance in a nutshell. This is a comprehensive plan that offers coverage for any risks and threats that can affect office operation. It covers office property as well as any monetary loss or dubious practices performed by employees. The package policy covers almost all types of risks that can be anticipated.
What does Office Insurance Cover?
Office insurance comes as an all-in-one package that includes protection against a range of threats. These include:
- Any damage to the property including windows and furniture.
- Misusing office data by employees.
- Any 3rd party legal issues and liabilities.
- Fixed furniture and storage spaces like shelves, carpets, kitchen units, and sales counters.
- Risks associated with the breakdown of machines, fires or burglaries.
- Loss of personal property and baggage of proprietors, partners, principal officers or employees when on office tours.
- Lightning damage and explosion damage to safety appliances, sanitary items, housekeeping tools, and other decorative items.
- Personal accidents to the owner like temporary or permanent total/partial/absolute disability.
Other extensions can also be opted for along with your current office insurance policies. These can help you extend your office insurance to cover the following issues.
This helps the policy to cover expenses and damages caused by breaking and entering or robberies.
Money kept in a safe
This policy covers any loss of money including paper money, cheques, coins, revenue stamps or even bank drafts. As long as they are kept in safety boxes or lockers, you got it covered.
Money that is moving and in transit
This helps to cover the money that is in transit. This includes drafts or cash lost while moving from office premises to different locations or banks.
Any electronic equipment
This covers damage or loss to computers, printers, fax machines, and other electronic equipment.
Any type of portable equipment
It covers damage to tablets, laptops and other portable digital equipment used for official purposes.
Business interruption due to damage to property
Any damage to property that causes interruption to the business is covered. This includes rent for new offices, wages, and overheads required for keeping the business running.
Advantages of opting for Office Insurance Policies
Office insurances can help ensure that business owners can have sustainable growth for their businesses. Despite different types of risks and issues, protection plans can ensure that your office continues business as usual. In the initial phases of operation, this is absolutely crucial to the building of reputation. Office insurance policies ensure that your work stays on track. Also, it makes sure your business doesn’t suffer no matter what.