Regardless of industry, most businesses utilize office space to conduct specific operations. These work areas can vary in size, features and number of employees, but many still share the same risks and hazards. It’s imperative for your company to understand that even in a work environment that might appear relatively safe, proper insurance coverage is necessary to keep minor incidents from having major consequences.
What Is Office Insurance?
Office insurance packages usually bundle several key types of coverage together to form a wide safety net for policyholders. The needs of specific businesses may vary, but in general, an adequate office insurance portfolio should include the following coverages:
- Commercial property—This coverage protects your organization’s owned and rented property. This could include your building, equipment, furniture, signage, landscaping and other party’s personal property.
- General liability—If a guest or customer is injured or their property is damaged while on your premises, this coverage can assist in resulting lawsuits.
- Business interruption—If a covered event forces your business to pause operations or temporarily relocate, you may be able to recoup certain expenses.
- Professional liability—This coverage provides protection for lawsuits alleging that your company provided inadequate or improper professional services.
- Equipment breakdown—If machinery or electronics in your office are damaged, this coverage can help pay for repairs or replacements.
- Crime—This coverage can help reimburse you for losses stemming from criminal activity, such as theft by an external perpetrator or employee dishonesty.
- Cyber liability—This coverage can help your office recoup expenses arising from a cyberattack or data breach, such as investigating the attack, notifying other parties, recovering lost data and repairing compromised systems.
Get the Right Coverage
Offices are one of the most common work environments, but they can vary in many ways. Fortunately, our agents can customize office insurance packages to fit your business’s needs and operations. Contact R Hobbs Insurance today to get started.