Insurance for Offices

Owning an office building allows you to earn income from the business needs of other companies. If you rent office space instead, there are a number of legal responsibilities you must meet in order to keep your office lease valid. Protect your company assets and keep your lease in good standing by making sure you’re carrying the right types of small business insurance.

General Liability

General liability is an all-around broad level of business insurance protection. It’s designed to protect your offices from suffering financially when accidents and unexpected events happen. If you lease your company offices, your landlord will require you to carry a general liability policy just in case accidents happen that cause damage to the office. This insurance grows as your company does so that you’re protected when you upgrade your offices or open new locations.

General Liability Insurance Includes:
  • Premises Liability – Premises liability coverage is an important part of general liability insurance for offices, because it protects you when customer accidents occur. When customers visit your office space they rightly assume it is safe to do so. If something happens while they are there that causes them bodily injuries, they may need hospital or doctor care. Your premises liability will pay those bills so that your customer does not have to. Similarly, if a customer’s personal property is damaged while it is at your office location, your premises liability will pay for those repairs.
  • Products Liability – When you sell products in your office, there is a small risk that a customer will sue your offices for defects in those products. If a product causes injury or harm to a customer, or if it damages the customer’s property, your product liability coverage can pay for the damages. When necessary this part of your general liability business insurance can pay for your legal defenses, and it can pay judgments or settlements as well.
  • Completed Operations – Businesses that operate from offices often provide services to their customers. You may offer travel booking for example, or executive administrative services in your office. When you provide services to a client, problems can sometimes arise after you have completed the operations they paid for. The completed operations portion of your general liability coverage can pay damages if applicable, or provide for your litigation defense against claims.

Business Owners Policy

You can get your base general liability coverage automatically as part of an expanded type of business insurance known as a BOP, or business owners policy. A BOP provides you with protection against the loss of tangible and intangible business assets. Your office’s tangible assets may be computers and furnishings for example, and the intangible assets could be accounts receivable or digital media files. You can tailor your BOP coverage to provide protection in only those areas your office needs it.

Examples include:

  • Buildings and Contents
  • Business Income and Extra Expense
  • Electronic Data
  • Newly Acquired or Constructed Buildings
  • Employee Dishonesty Coverage

Business Auto

When you drive vehicles for office’s business purposes, you put your company at risk of having financial problems due to car accidents. You can protect yourself from all of the risks associated with an accident by carrying business auto insurance. If accidents happen, this policy can pay for physical injuries, property damages and more.

Workers Comp

If your offices have employees then you are required by law to carry workers comp insurance. This is protection for the employees in case they are ever injured on the job.

Commercial Umbrella

An umbrella policy is additional business insurance. If you reach the maximum coverage levels on your other policies, this one can provide extra protection.