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 your contents are all included. The contents sum insured will reflect the value of your office contents, furniture, computer equipment etc. The value 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 landlords building insurance policy (which you will be paying for either in full or in part) will only reinstate the landlords property prior to your improvements.
If you do own your premises then they can be covered in the usual way but do not forget to tell us if any part (e.g. a flat over a shop) has been sublet or sold on a long lease to a third party.
Loss of profits is another standard feature and the purpose of this 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 and you are insured for fire damage and as a result you are unable to open for business your insurers will pay you your lost gross profit, thus allowing you to maintain your drawings, pay staff and the rent etc. 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 lower the premium the higher the level of security required by insurers. A burglar alarm fitted by a NACOSS (National Approval Council for Security Systems) certified 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 endeavour to work with you.
Please complete the simple enquiry form below and we will call you back as soon as we can.
