subject: Getting The Right Commercial Insurance For Your Office [print this page] If you own your office building then it is vital that you make sure you have sufficient insurance to cover you in case of problems with the building and its contents. When you own a house you need insurance in case of unexpected events result in the damage or destruction of your building and the same kind of thing applies with premises that are used for business.
You need to insure your business, your business premises and the equipment that is needed for the conduct of your business. You will need commercial building and contents insurance for your offices and you should make sure that the policy you choose covers all of your office equipment and furniture, the personal belongings of your staff and any damage to fixtures and fittings, as well as a total rebuild if necessary.
It is bad enough when you have to find somewhere to stay while your damaged home is being rebuilt, when it comes to your work premises, rebuilding will interfere with the conduct of your business. If you have a lot of expensive computers and other office equipment then make sure that the contents cover you have is enough to replace all of that equipment.
When you are shopping for commercial building and contents insurance you should look for a policy that includes business interruption cover. When you apply for your policy you should have a fair idea of what replacing your offices will cost and how long the business interruption will last, as this will have implications for your level of cover. Without business interruption cover you could find yourself unable to resume your business once the rebuilding has been completed.
As an employer you will need to take out employer liability insurance and if members of the public visit your offices then you may also need public liability as well. Liability insurance assumes that if anything happens to one or more of your employees or members of the public while they are on your business premises, you could be held liable for damages and costs. If you don't take out employer liability insurance when you have staff then not only could it cost you more money than you ever dreamed of, you could also be breaking the law.
It is your responsibility as an employer to see that your place of business is safe for your employees and any visitors you may have and that it has adequate toilet facilities and access for people with disabilities. Some commercial office insurance providers will include money and book debts in their list of things that are covered; this is useful cover to have in case someone reneges on a debt.
When you are looking for commercial insurance, as with any other type of insurance, don't take the first quote you are offered. You should shop around for your business insurance to make sure that you get cover at the best price you can afford and that you have the most comprehensive cover you can afford.
by: Tom Jones
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