Insurance at work – a necessity or not?

Are you working in a big office and you have no idea if you have insurance or not? Avoiding lost incomes, business interruptions, computer safety loss, data safety loss, valuable papers loss or anything similar to this can be possible if you get yourself office insurance.  This kind of insurance will help you sleep better at night knowing you have nothing to lose regarding your work. Yes, it requires a small investment at first, but the benefits of it are amazingly helpful in times of need. Here’s a list of what you might want to need to know in order to convince yourself if insurance is a necessity or not:

Commercial Insurance

  • Fire insurance

Fire is a common damage factor that can result in considerable loss if insurance is not present. A fire insurance contract will protect a company from any kind of malicious damage caused by fire. Explosions started to become popular, especially when it comes to notorious companies that certain people want to see unsuccessful. Not exposing the company to risk means closing an insurance contract as soon as possible. Fire insurance usually includes water insurance too for protection against floods or water pipe explosion or overflowing. There are specific insurance packages for earthquakes, hurricanes or other kind of windstorms.

  • Business interruption

If a certain event happens and a company is not able to pay its employees, then the insurance will do it for you for a specified period of time. Loss of profit is often the main cause of not being able to pay all your employees and that’s why business interruption insurance saves the company when needed. Costs of working happen to raise without any kind of warning and that can completely mess up your financial routine.

Liability

  • Public liability

Usually, when third party property occurs in solving an issue, they might require a certain compensation that needs to be paid. You won’t have to worry about that as long as you own public liability insurance. Property or physical damage (even death) are covered by this type of insurance and the costs of any legal liability is being covered by the assurance itself.

  • Professional indemnity

When troubled by legal liabilities because of employees of your company, having a professional indemnity means your employees work in a certain field that cannot be denied. No matter if we are talking about secretaries, architects or any other type of profession, having this assurance for your company will save you from nights without sleep.

Guarantees

  • Fidelity guarantee

This is a type of office insurance that big companies often use for making sure that their employees will keep the secrecy and fidelity to their employer. When the fidelity guarantee is broken, the service provider will cover every loss (doesn’t matter if it is monetary or physical) resulting from the actual mistake or dishonest acts. This comes in extremely handy when a company provides sensitive information that shouldn’t be spoiled by the employees. This way the company is making sure their information is secured and no loss is involved.