What Is An Office Insurance Policy?
Office general liability insurance is liability coverage that protects you and your commercial office against bodily injury or property damage claims where your office is legally liable for the damages.
Whether you operate a home office or lease/own commercial office space, office insurance can help you manage and mitigate risks associated with running the office and performing your day-to-day activities.
What Insurance Do I Need For My Office?
The office insurance your business requires depends on the type of business and/or commercial office you have and the contents within it. Every office and the business within it are different, so your insurance needs depend on details like whether your office is open to the public, whether it contains any specialized equipment like IT Hardware, fine art, etc., whether you have a board of directors and officers, whether you own a commercial fleet, etc.
Typically, it’s beneficial for all businesses to have commercial general liability insurance to cover property damage and bodily injury should people suffer on your premises, such as a slip-and-fall accident.
You might also consider commercial property insurance to protect your office space and equipment against insured perils like flood, theft, vandalism, fire, storm, etc. Commercial property insurance can also cover business interruptions and repairs for damaged property.
If you own equipment such as air conditioning and refrigeration systems, boilers and pressure vessels, mechanical equipment, production systems, etc., you should consider purchasing equipment breakdown insurance to cover accidental physical damage caused by mechanical breakdowns, explosions, system malfunctions, electrical arcing, etc.
Lastly, if you own a fleet or employ any type of vehicle for commercial purposes, commercial auto insurance will help with medical fees and damages.
Office Insurance Quote – What Coverages To Consider
We know that every office and business is different which is why we take the time to assess your specific office coverage needs and match these with the best possible insurance products and services. In addition to the coverages listed above, here are some additional insurance coverages you may consider:
- Accounts Receivable
- Business Interruption
- Commercial Property
- Cyber
- Directors & Officers
- Employee Theft
- Employment Practices Liability
- Umbrella Liability
Do I Need Insurance If I Rent An Office?
The short answer is yes. It’s recommended that you purchase office insurance even if you don’t own the office space. In some cases, the leasing company might ask you to purchase office insurance or require that you show proof of appropriate coverage.
Even if you rent an office, there are still risks that could arise from your operations like slip and falls and you will still have equipment and other commercial property stored in the office.
Where Can I Get An Office Insurance Quote In Canada?
Your office may be home-based, brick-and-mortar, or one of several leased locations across the country, but regardless the type of office you occupy or the details of day-to-day operations, both your people and your premises face countless risks. It could be your directors, property, or accounts receivable or other risks – but running an office means managing risks.
Across Canada, our team of insurance advocates understands what it takes to anticipate and manage office risks as well as available insurance options. That’s why we can deliver a comprehensive insurance quote that will meet the unique needs of your business and provide concrete office insurance options.
We’ll start by asking some fundamental questions about your operations – for instance:
- Where is your office located?
- What are your operations, services, products etc.
- What losses has your business experienced in the past?
- What is the current replacement value of your property? Inventory?.
We may ask additional questions as the better we understand your business the better insurance solutions we can secure to protect it and you.
Talk to us about your office insurance needs. Wherever you are located, we can help you get an office insurance quote that delivers more value and options to your Canadian business.
