Whether you want to insure your building and its premises or the content taking out an office insurance will get your business and your company covered for a majority of damages and accidents. Furthermore, optional covers can extend your protection over other assets. According to a publication by Unespa in Spain in 2016 more than 185,000 offices had taken out an insurance. That figure is nearly as many as bars having an insurance in the country.
In this article you will learn about some basic and optional covers included in the vast majority of office insurances. We at Cogesa Expats as expert insurance brokers will be glad to assist you finding the right office insurance for your company in Spain. Get in touch with us to know more about what we can do for you.
Basic Covers in an Office Insurance
Basic covers in every office insurance policy should include the building and the contents. The policy usually insures the following elements regarding the building and premises:
- Building: foundations, walls, frames and brickworks, ceilings, flooring, carpentry, fences and adjoining buildings.
- Fixed installations: those for heating, A/C, water and plumbing, electricity, gas and also telephony, internet, solar panels, etc.
- Decoration: decorative installations when they are fastened to walls, ceilings or floors.
Regarding contents the following is a non-exhaustive list of the most usual covers:
- Furniture and machinery: furniture, shelving and decorative elements, electronic and office equipment, alarms and other protective devices as well as audiovisual devices, signs, lighted signs and awnings.
- Valuable objects (provided located only for ornamental purposes): paintings, watches, rugs, artworks, gold, silver or platinum-made objects, pearls and precious gems, manuscripts, coin or stamp collections, weapons, jewelry.
The office insurance usually covers damages by:
- fire, smoke, explosions or implosions and lightning
- water damage and flooding
- natural disasters
- accidental leaking of fire extinguishers
- broken glasses
- electrical damage
- temporary relocation
- third party damages (neighbors or rented premises)
For each of these covers there are usually certain limits or conditions under which the insurance will be void or there will be a limit on the sum insured. Therefore it is always advisable to contact an expert insurance broker to help you with the details.
Optional Covers in an Office Insurance
Some insurance companies have optional covers available which usually include:
- Theft with violence or intimidation: this can affect the building, cash from a locked furniture or from a safe, from a vehicle conveying funds, etc.
- Lack of access to the building: including loss of keys.
- Fidelity guarantee: the removal, fraud or misappropriation of cash, funds or checks by employees of the insured company.
- Consequential losses: the losses by a halt in the business activity of the company.
- Broken electrical or electronic equipment
To Check Before Taking Out an Office Insurance
Before deciding for an office insurance provider you should take into account the following questions:
- is there a maximum price above which individual objects in the office are not insured?
- are third party objects or assets left in your custody also covered by the basic office insurance policy?
- what are the limits and exceptions for every cover?
Finally you should read carefully every detail in your policy to determine which risks are totally excluded from the insurance.
If you feel overwhelmed by the amount of things in needed to be taken care of just send us an email or give us a call and we will help you finding the office insurance covers that meet your needs. You can also fill the form below and we will get in touch as soon as possible.