Where to buy office insurance in Leicester and what to out look for.

Buying office insurance is always best to use a local broker. Buying online is not the cheapest and you may not get the support when it comes to claims.

Here are our five top tips when buying office insurance:

1. Disclose your location and purpose for the office in full. It is important you tell your broker if the office is a purpose built office, if you share the office with other businesses or if the office is part of a wider more diverse business. These points could be missed when looking online. Some businesses that may have operations that are in multi use buildings or include manual work need to be explained in full in order to make sure the risk is correctly disclosed.
2. Make sure you have an adequate sums insured. The office policy is written on a new for old replacement basis. Times we come across businesses that buy equipment second hand and fail to appreciate that the insurance will replace as new in the event of a loss. Don’t get caught out by under insurance.
3. Separate your computer values. Cornerstone Insurance recommends that businesses ensure that their general office contents replacement value and computer replacement values are noted separately. In some cases cover may be required for portable equipment away from the office. By having the separation you can discuss your cover requirements in more detail with your broker including the possibility for the need to cover computer breakdown.
4. Beware of minimum security requirements. Almost all office insurance policies will make reference to having the main entrance door fitted with a lock to British Standards 365. If you share an office with other businesses you may not meet this requirement and we recommend a discussion with your broker to advise insurers of any variations in the security. There is a similar requirement to fit key operated window locks to accessible windows. Failure to understand the security for your office could have serious consequences in the event of a claim
5. Business interruption considerations. In the event that you cannot use your office due to physical damage such as storm or fire we would recommend to a minimum that your office insurance included business interruption increased cost of working. Make sure your policy covers you for compensation to pay for temporary relocation costs and expenses.

If you would like an office insurance quotation please call Cornerstone Insurance on 0116 3440040. We are here to help.

Tim Lee

Director – Cornerstone Business Insurance Ltd