What may be covered by office building insurance?
The right office building insurance can cover you for a variety of eventualities which may result in harm to your office property, such as:
- burst pipes
- falling trees
- fire and smoke damage
- damage as a result of riots or similar human causes
- storm damage
- theft from the building itself i.e. roof slates
What is not covered by office buildings insurance?
Most building insurance policies won't cover you for some specific eventualities like general wear and tear on the building such as can be expected over the course the life of the building. You may also not typically be covered for harm to the building caused by war or acts of terrorism.
I own the building outright – do I still want business building insurance?
Even if you own your business premises outright you should still take into consideration buildings insurance to safeguard you against the potential costs of repairs or reconstruction of your property.
My office is part of my home – do I still need office buildings insurance?
You might not require separate building insurance (it’s best to discuss this with an independent financial adviser as your buildings insurance requirement may depend upon whether or not your office is a component of your house or a separate building) but you ought to think about home office contents insurance to cover you for things like stock kept at the premises,office equipment, personal liability, and legal expenses.