It makes sense that when you start an office business you need to purchase office insurance.
So what is office insurance and why is it important?
In this post we’re going to breakdown what office insurance is, why you need it and what is important to know when purchasing office insurance.
What is Office Insurance?
Office insurance is actually NOT the technical insurance name for the policy most office style businesses purchase. In the majority of cases office insurance policy is technically called a BOP or Business Owners Policy.
A Business Owners Policy is form of package insurance policy that insurance carriers have created in a effort to meet the needs of common business classes.
Coverages include:
- General Liability
- Business Property
- Business Income
- Employee Dishonesty
- Electronic Equipment
- and much more…
That means that excluding professional liability, the office insurance policy that an engineering firm would purchase is essentially the same as a law firm or accounting firm.
Why do I need Office Insurance?
Why you need office insurance or business owners insurance and why you should have it are probably two different answers.
In most cases you NEED business owners insurance because the building owner of the space your business is renting requires you carry general liability.
But office insurance covers so much more than simply general liability as mentioned before.
Unforeseen tragedies can happen even in perceived safe environments like an office. Somebody spills water, somebody else slips on the water and now you have a claim.
A spark from an outlet can start a fire that ruins computer equipment and office furniture. The cost to replace these items can add up quick.
Looking for the most competitive rate on Office Insurance that protect your business?
Call the Murray Group at (518) 456-6688… We can help you purchase the right policy.
Thank you!
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