August 22, 2014

All about small office insurance

To protect your office business (the hub of your operations) you will need small office insurance. The idea is to protect yourself against the everyday risks, as well as the things that will affect company profits or service availability, and then finally to protect against the things that rarely happen, but may (such as fire and theft). You will need to be covered against your clients/customers waltzing into your office and falling over. You need to be covered against things like your staff scalding their hands as they make the morning coffee and then things such as your internet or phone lines going down, floods and fuel strikes.

What you must do is consult an insurance broker and ask advice on which things you should insure yourself against/for. They will point you in the right direction as to what other people in your industry are insured against. You also need to take stock of your own business. If yours is a small logistics office then a fuel strike will affect your business more than it would most others. You need to be sure that you think out every possible aspect of your business, especially in instances where you differ slightly from other businesses in your industry. For example if your office has a guard dog, you would also need to factor in insurance for if it bites a member or staff or a customer, and yes, even for if it bites or kills an intruder.

The standard insurance items for small office insurance are fairly common sense things, such as theft or fire. The others that are specific to your office are often referred to as bolt-ons. Your main areas of concern are business interruption, such as power cuts, computer malfunctions and phone lines going down. There is also insurance for stock held in the office, or coming and going from the office. Fixtures and fittings must also be insured. This includes things such as computers, kitchen equipment and storage equipment. Any money and such goods must also be insured, whether it is stored in a safe or with the owner/manager or staff.

Find small office insurance to protect your business at Specialistrisks

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