The first consideration when selecting an Office Insurance Policy is whether it provides adequate coverage for all the key areas. Usually these areas may vary depending on the type and extent of the business in question. The following are a list of the common areas which must be covered in an Office Insurance Policy.
First and foremost, the office premises must be properly covered. The coverage should include building protection against fires, theft, explosion and flooding. If the building is owned by the firm, this must be taken care of, but if it is being rented, ensure that the insurance policy covers these eventualities.
The contents of the office premises must also be insured against loss, theft, damage and destruction. Always specify the correct value and quantity of the items being insured to get adequate protection. The policy should be reviewed and updated after any major acquisition or purchase of property is made. The property and building fixtures should be clearly differentiated. Fixed items that are attached to the building such as kitchen units, carpets, shelves and sales counters etc. should be specified.
For offices with a front, there are specific clauses which cover the awnings, signage and windows. Also, any stock or products kept on the premises should be identified and the value taken note of. This should be insured separately from the rest of the contents.
Some businesses prefer to use brokers when looking for the right insurance policy for their firms. However, this could increase the total cost of premium being paid and in the long run, add up to a lot of money. More businesses are now taking the direct route by searching for the perfect insurance policy themselves. This saves a lot of money but is only effective when they carry out an extensive research to sort through and compare all the different kinds of insurance policies. However, this research is unnecessary. All a company has to do is to visit to make inquiries and get information on the best office insurance policies for their firms. This way the firm is properly insured against theft, losses and damages of any kind.
