If you are in a service industry or another business that does not sell a physical product, you need office insurance, even if your premises are in a shop. Accountants, solicitors, financial advisers and estate agents are all examples of businesses that need this type of insurance.
Public and employers’ liability, money and contents insurances are all included. The contents sum insured will reflect the value of your office contents, including furniture and computer equipment. The value you give must be based on their replacement as new.
If your premises are not your own but have improvements paid for by you, these need to be covered under your policy because the landlord’s building insurance policy (which you will be paying for either in full or in part) will only reinstate the landlord’s property prior to your improvements. If you do own your premises, they can be covered in the usual way but do not forget to tell us if any part (for example, a flat over a shop) has been sub-let or sold on a long lease to a third party.
Loss of profits
Loss of profits cover is another standard feature. Its purpose is to replace your income should you be unable to trade because of an insured peril occurring. In plain English, if you have a fire resulting in you being unable to open for business and you are insured for fire damage, your insurers will pay you your lost gross profit. This will allow you to maintain your drawings, and pay staff, rent and other expenses. Remember that you will have to provide proof of your turnover and profits at the time of a claim. Unrecorded sales do not count.
Generally speaking, the greater your sums insured, the higher the level of security required by insurers. A burglar alarm fitted by a NSI (National Security Inspectorate) installer, with central station signalling by BT Redcare, is always the preferred choice, even when it is not mandatory. However, tell us what security you have and we will work with you.
Current options and extensions offered by our insurance markets.
Office Contents Insurance
Portable Equipment Cover
Equipment Breakdown Insurance
Let's get you covered as quickly and simply as possible
Do I need a separate home office insurance policy?
No, we can arrange insurance that covers you if you run a business from your home. If you have an office at home, you would select the same insurance cover and products as those who work from a commercial premises.
Is insurance a legal requirement?
The only legal obligation to have insurance in place is for employers (unless exempt) and if you have or operate vehicles as part of your business.
Can I pay in monthly installments?
Depending on status, level of cover and the insurer monthly direct debits can be set up to cover the cost of your insurance cover.
What if I need to change my level of cover?
Should you need extra cover or a different level of indemnity (10 million Public liability instead of 5 million) please speak to your broker and they will be happy to advise.
If I need to make a claim who should I contact?
Whenever you need to start the claim process the first call should always be to your insurer. After that should you require any assistance please speak to your broker or one of our assigned claims assistants.