Many small businesses are based in an office. This type of environment can be very busy and the risk of an accident or injury can be high.
An office insurance policy is specifically intended to financially protect you, your business and your employees from a number of different risks.
A standard office insurance policy can include public liability insurance, employers’ liability insurance and buildings insurance.
Public liability insurance
This insurance cover could pay out for claims involving injury, illness or personal property damage to the public and other third parties as a direct result of your business operations.
If you have clients or customers coming in and out of your office, you may want to consider protecting yourself against any claims they may pursue against you.
Public liability insurance is not mandatory, however, in the event of a successful claim you could be expected to pay compensation, damages and legal fees – this applies whether you have insurance, or not.
Employers’ liability insurance
As previously stated an office can be a very busy location, often with a large number of people working in a relatively confined space.
Employers’ liability cover can provide protection for any claims made by employees who have suffered an injury or a work related illness.
Please note, it is a legal requirement to purchase at least £5 million employers’ liability insurance if you have any employees working for you, but most insurers offer £10 million as standard.
Your building – where your office is based, can be covered from risks such as theft, fire and flooding. If such an occurrence took place, your business could incur additional costs to rectify the issues and your office may need to be closed until repairs were completed.
In this event you may also wish to speak to us about Business Interruption cover.
This type of cover could secure the contents and equipment in your office. Fixtures and fittings can be included if required.
Your office may contain a great deal of expensive and valuable equipment which are invaluable to the successful trading of your business. If your equipment was stolen or damaged as a result of fire or flooding, contents insurance could provide the relevant financial cover to replace these items.
This guide forms part of our series on insurance for offices and other buildings. For product information, links to more guides or to get a quote head over to our office insurance section or alternatively, please call 08081686868 to speak to one of our insurance executives.