What is office contents insurance?
Office contents insurance does exactly what it says on the tin – protects the contents of your office!
As your office will usually contain expensive and essential items for the running of your business, having the right insurance cover will mean you are not left out of pocket if your equipment is damaged or stolen.
What does it cover?
Most offices will contain some sort of computer equipment. Your office is likely to contain desktop computers, laptops, printers, faxes, scanners or phones, and replacing all of these is a costly business.
As well as electronic equipment, office contents insurance will usually cover your office furniture too.
Why take out office contents insurance?
If you’re running a business, the last thing you want to be worrying about is what might go wrong. Even in the most secure buildings, thefts and accidents can still happen. Without the right insurance cover in place, the cost of making good any loss or damage could mean that your business struggles.
Office contents insurance provides peace of mind that if something unexpected happens, you will not be left out of pocket.
What type of cover do I need?
There are lots of different types of risk you might choose to insure against when taking out office contents insurance.
- Theft cover – is one of the more obvious types to consider. Office buildings can be an easy target for thieves, as most will be left empty overnight. Most contents insurance policies will cover you for theft from your office. This means you will be able to quickly replace your equipment and continue trading with as little downtime as possible.
- Accidental damage cover – Occasionally even careful employees can cause damage to office equipment. If a member of staff spills water on their computer, the accidental damage insurance will allow you to repair or replace any damage caused.
- Personal property cover – It’s not just your office equipment that you’ll need to think about when protecting your office. Clients, visitors and staff could bring a claim if their personal possessions are damaged while on your property, so check with your insurer about adding personal effects cover to your policy.
- Contents in transit, or out of the office – If your staff regularly take items like laptops or phones away from your office premises, you’ll need to make sure you are still covered. This type of cover will pay out if your office contents are lost, stolen or damaged even while they are away from the building. Make sure all staff are aware of any conditions associated with this type of policy. For example, if a staff member leaves a laptop in an unlocked car, you might not be covered.
- Natural disaster cover – If your office is flooded, or you have a fire causing damage to your office contents, this type of policy will cover you financially. Whilst recovering any data or paperwork can be tricky, it pays to know that at least you will not have to worry about funding new equipment if the worst happens.