Office Insurance
Office insurance protects business premises, equipment, and assets against risks like fire, theft, natural disasters, and accidental damage, ensuring business continuity.
Frequently Asked Questions
1. Does office insurance cover rented properties?
Yes. Even if the office is rented, you can insure the contents (furniture, electronics, stock, etc.). The building owner can separately insure the structure.
2. What if my office has a mix of commercial and storage areas?
You need to disclose the layout while buying the policy. Premiums and risk assessment will depend on the nature of goods stored and their exposure to fire/theft hazards.
3. How are claims settled for electronic items?
Insurers usually consider the current market value or replacement cost, depending on the terms of the policy and depreciation.
4. Is employee negligence covered?
General negligence is not covered. However, you can include Fidelity Guarantee cover to protect against financial losses caused by deliberate dishonest acts by employees.
5. Can I insure a co-working space?
You can insure your belongings within the space (like laptops, inventory, documents) but not the structure. Liability coverage can also apply if you’re responsible for visitor safety within your section.
Comprehensive Protection for Your Workplace
Running an office means juggling responsibilities, from people and equipment to data and deliveries. But even the most secure setup can face unexpected setbacks like fire, burglary, or accidents.
Office Insurance is a comprehensive policy designed to protect your workplace from financial losses arising from such risks. It typically covers the structure, contents, employees, and even legal liabilities, helping you focus on business without worrying about disruptions.
What Does It Cover?
Most office insurance packages are customizable, but generally include:
- Property Damage
Covers your office building (if owned), furniture, fixtures, electronics (like computers, printers), and interiors against fire, theft, natural disasters, or malicious damage. - Burglary & Theft
Protects valuable items and equipment in case of unauthorized access or theft. - Electronic Equipment
Includes repair or replacement costs for insured gadgets due to accidental damage, power surges, or mechanical failure. - Business Interruption
Compensation for income lost due to a covered event, such as fire or flooding, that halts operations. - Money Insurance
Covers loss of cash during transit or within premises under defined conditions. - Public Liability
Covers third-party claims arising out of accidental injury or property damage on your premises. - Fidelity Guarantee
Protects against financial losses due to employee fraud or dishonesty.
Optional Add-Ons
- Plate Glass Breakage
Covers accidental breakage of fixed glass installations like:
- Glass doors
- Display windows
- Glazed partitions
- Especially useful for offices with modern glass façades or interior decor.
- Signage Damage
Protects your indoor/outdoor branding materials like neon signs, name boards, digital displays, etc., from:
- Accidents
- Vandalism
- Natural disasters
- This avoids the hassle and cost of reinstalling expensive signage after damage.
- Terrorism Cover
Covers damage or loss due to acts of terrorism, sabotage, or civil unrest—subject to IRDAI guidelines. In metros or commercial hubs, this is an increasingly relevant protection. - Liability for Lifts & Escalators
If your office building includes lifts or escalators, this extension covers legal liabilities in case:
- A lift malfunctions and injures someone
- Property is damaged due to technical failure or mis-operation
- Particularly important for high-rise or client-facing buildings.
- Workmen’s Compensation Add-On
Protects the employer against legal liability for injury, disability, or death of workers or staff during the course of work. This is governed by the Employees’ Compensation Act, and ensures coverage for:
- Medical treatment
- Lost wages
- Compensation for permanent or temporary disability
- Can be useful even for non-factory offices where staff like delivery runners, janitors, or maintenance workers are employed.