Offices are usually considered to be fairly safe, but running an office isn’t without risk. Essential equipment can break down and interrupt operations, employees can suffer repetitive motion injuries, visitors can fall and become hurt, and burglars can steal equipment or documents. Moreover, these are just some of the many potential risks that offices are exposed to. Office insurance policies help protect office space that Massachusetts businesses have from a variety of risks.
Office insurance is a form of commercial insurance that’s specifically designed to meet the needs of businesses that have offices. Most policies have multiple coverages that work together to offer robust protections. The exact coverages that any one policy has can often be adjusted to meet a particular business’ needs.
Because the coverages in an office space insurance policy can often be adjusted to suit a particular business’ needs, the exact coverages provided can vary from one policy to the next.
Some of the coverages that may be found in an office space insurance policy include:
These are just some of the many coverages that a policy might provide. If needed, a policy might also be able to give a business employment practices liability coverage, fine arts coverage, outdoor sign coverage and storage building coverage.
Most businesses in Massachusetts that have an office can benefit from the protections office space insurance affords. A few businesses that may want this type of insurance are:
As is the case with almost every type of insurance, the cost of business insurance for an office is dependent on many factors and varies. Some of the factors that may affect a policy’s premiums include:
Generally speaking, office policies are affordable for the protections they provide. Of course, it can be much more expensive to not insure an office because not carrying insurance leaves a business individually responsible for the risks it’s exposed to.
Insurance companies often offer discounts to businesses that take certain precautionary measures. Often, businesses can reduce their office policy’s premiums without sacrificing coverage by installing burglar and fire alarms, installing an automatic sprinkler system and purchasing multiple insurance policies from the same insurer.
For help finding an office insurance policy, Massachusetts business should contact an independent insurance agent who’s familiar with the risks offices are exposed to. An insurance agent will be able to help a business select the coverages it wants and find a policy that offers those coverages.