Protect your workplace with office insurance
Offices of all kinds are subject to the same risks as any other business so it’s vital to put measures in place that can negate those risks as much as possible, and having adequate office insurance will be central to that. The right policy will give you the peace of mind you need that your office is protected against all eventualities, leaving you free to get on with the core aspects of office management.
What should be included in a policy?
Having the right level of protection is essential, and there are a number of things you need to be prepared for. Different insurance companies will of course offer different levels of protection with some features being offered as standard whilst others will be optional extras, but generally you need to look for a policy that includes the following:
• Buildings and contents cover. This can provide cover for your office building as well as any contents contained within it (should they be lost, stolen or damaged, for example), with computer equipment often being available as an optional extra.
• Public liability. This level of protection is essential as it will cover the cost of any compensation claims made as a result of a third party suffering injury or damage to their property whilst being on your premises.
• Employers’ liability. This is a legal requirement for any business that employs more than one member of staff, and is there to provide cover should an employee be injured or become ill as a result of their work.
• Business interruption. This can be invaluable should your office be unusable (e.g. through fire or flood) or if your business suffered from a loss of gross income.
• Loss of accounts receivable. This will provide cover up to an agreed maximum should customers owe your business money yet be unable to pay, perhaps because of damage to your business accounts.
• Legal expenses cover. Legal disputes of any kind can have a huge impact on the finances of a business, but this protection will cover any expenses to ensure you don’t lose out unnecessarily.
These are just a few options that you might need to look for depending on your circumstances and budget, and of course the features you end up with could differ according to your needs. As long as you make sure you’ve got a policy that protects your business against any unforeseen costs or compensation claims you can be confident that you’re doing the right thing, because having that peace of mind can be invaluable.
Find the policy that meets your needs
The only way you’ll be able to find a policy that meets your needs is if you can find a firm to accommodate, and that’s why research is vital. Ideally you’ll want to head online to do this as you’ll find it far easier to source quotes, and from there you’re free to compare the options at your leisure. This part really is essential because unless you compare all the options you can never be sure that you’ve made the right decision, so always spend the time to look to ensure you’ve got a policy (and a company) that can give you just what you’re looking for at a price you can afford.
Of course, you need to make sure that any policy you decide upon meets your precise needs, and that’s why finding an insurance firm that can build their policy around you should be at the top of the agenda. Different offices (and businesses) are always going to have slightly different requirements and so it’s essential you’ve got a policy that reflects that, with every feature and its level of cover being wholly tailored according to your individual business circumstances. This ensures you’re getting complete protection but it also means you’re not spending over the odds for cover that’s unnecessary, so always make sure that any potential insurance firm listens carefully to your needs and is able to produce a quote to accommodate.
Essential tips to source the best quote
It can’t be denied that budget will often be just as important as anything else these days, and that’s why finding a quote that won’t break the bank is vital. There are plenty of ways you can do this, and here are just a few tips to get you started:
• Make sure your office is properly alarmed and secured at all times. This isn’t only common sense but can result in great discounts on your policy, with many insurance firms being able to lower their prices if your office is protected by CCTV or alarms from accredited installers.
• Make the most of your claims history. A good claims history can work wonders on your premiums, with many insurers being able to offer fantastic discounts accordingly.
• Compare the options. This is a step in the process that should never be overlooked, because comparing the options can be the key to finding a better quote at a better price.
• Don’t be afraid to haggle. Many people seem reluctant to haggle when it can in fact be one of the best things they do – insurance firms will be competing for your business, so if you’ve found a better offer don’t be afraid to pit a few companies against each other to see if they can match or even beat the price given.
• Opt for a complete business insurance package. Rather than investing in different insurance products individually, it often makes sense to combine them in one complete package to save time and money for total convenience.
Ultimately it all comes down to research and spending the time to carefully consider all the options. The right office insurance policy doesn’t have to cost a fortune, and as long as you’ve got all the necessary features you won’t have a thing to worry about. This type of insurance should never be overlooked if you want to make sure that your finances are properly protected, and once you’ve got it in place you’ll be able to run your business in total confidence.