OFFICE INSURANCE
Risk Management is an important ingredient for the success of any business. From office building to all the equipment, protecting your commercial property is very important. Many times corporates underestimate the risk of loss associated with fire, burglary, business interruptions making them reluctant to buying office insurance. Since such risks are relatively uncommon, the premium on office insurance policies is also significantly low.
Office Insurance Policy is designed to cater for the complete insurance requirement of an office. Under a single Policy various policies such as Standard Fire & Allied Perils, burglary, Money Insurance, Electronic Equipment, Public Liability, Fidelity Guarantee etc are covered. Otherwise which are normally covered as separate policies. This Policy, being a Package Policy contains all covers packaged in a single policy form.
Each business has its own associated risk, making it difficult for a layman to understand the nuances of comprehensive Insurance policies. With years of experience in Office Insurance in India, Vitality Insurance can guide you to pick the right policy with optimal add ons.
Advantages of Office Insurance:
- Comprehensive Package
- Customised Cover
- Optional Add-ons
- Easy Documentation
The office property insurance policy covers the loss or damage caused from fire, lightning strike, natural catastrophes and other specified perils such as impact damage or leakage due to bursting of pipes. Depending on the type of business, a fire policy should be extended to cover all associated losses resulting from the main peril.
Burglary Insurance covers burglary or housebreaking accompanied by either forcible or violent entry into/ exit from the premises and hold-up.Burglary does not cover the risk of a missing asset taken away from office by an outsider without evident housebreaking. Theft by an employee is also not covered under theft insurance policy.
Fidelity cover protects the employer from losses arising out of employees fraudulent activities like illegal money transfers, bill payments. Money insurance protects from losses arising out of stolen money from office or a money looted from employees outside office.
Any risk to leased office furniture & other interiors is a tenant’s responsibility as rentals only covers normal wear and tear to the rented assets. Proper understanding of insurable assets is critical to reduce the risk involved. Take the professional help to buy the right cover.
It covers loss due to interruption or interference with the business carried on by the insured at the premises due to fire, flood or any other peril. While your business stalls, fixed expenses like rent, loan, salaries don’t. Business interruption cover takes care of all these fixed costs ensuring running of your business.
In today’s world dependence on electronic data and equipment like a laptop, and servers have greatly increased. Any loss or damage to such equipment could have a financial impact on any business. This policy covers sudden and unforeseen damages to electronic equipment due to any cause like, Fire & allied perils, explosion, breakdown, etc