Office contents insurance explained

22 Jul 2009

What does office contents insurance cover?While policy features and benefits can vary, cover may include all or some of the following: 

• Cash - Insurers generally cover any cash that is stored on the premises that is lost from break-ins. However, cash lost due to staff fidelity issues is usually excluded and needs to be separately addressed if the issue is of concern. Businesses that use lots of casual or seasonal workers tend to be more concerned with this issue than those who have a more permanent staff base.
• General office equipment - Make sure that nothing falls through the gaps between office contents insurance and the fixtures and fittings part of your buildings insurance. In the unfortunate event of an office fire, you will need cover that is adequate to replace your office furniture, to ensure that your staff can get back to work as soon as possible!
• Computer equipment - Computers are essential for any modern business. Computers are not only used for word processing and communication but project management, making payments, calculations, and running production lines to name a few uses. Office contents insurance policies may cover business interruption due to computer breakdown, covering the inconvenience of not having your systems functioning and the loss of potential trade.
  
  Computer breakdown due to the malicious action of others is something that is usually excluded from office contents cover. Actions by hackers and virus writers are unpredictable, so as yet the market is reluctant to cover risks emanating from them as standard. 

• Portable equipment - Check if the office policy covers portable equipment like laptops, palmtops and mobile phones. 

How will an insurer price an office policy?

The level of security that the office has including alarms and security staff is a factor that insurance providers might take into account when deciding the premium. They will also consider the size of the office, and the number of employees who work there, plus other factors such as the postcode etc.

What else can I expect from a policy?

Ask if there is a no claims discount, and whether you have the option of spreading the cost of the premium by paying it in monthly instalments. 

Public liability insurance - which protects you against the financial fallout of a claim by a third party for accident, injury or illness - comes as standard with our office contents insurance policy.

< Back to list