What Insurance Do I Need for My Office?
It depends on the type of commercial office you have, if you operate with specialized equipment, whether you have a board of directors & officers, own a commercial fleet, etc. Typically, it’s beneficial for businesses to have commercial general liability insurance to cover property damage and bodily injury that people suffer on your premises, such as a slip-and-fall accident.
You might also consider commercial property insurance to protect your office space and equipment against insured perils like flood, theft, vandalism, fire, storm, etc. Commercial property insurance can cover business interruptions and repairs for damaged property. If you own equipment like air condition and refrigeration systems, boiler and pressure vessels, mechanical equipment, production systems, etc., you should consider purchasing equipment breakdown insurance to cover accidental physical damage caused by mechanical breakdowns, explosions, system malfunctions, electrical arcing, etc.
Lastly, if you own a fleet or employ any type of vehicle for commercial purposes, commercial auto insurance will help with medical fees and damages. There are many other types of coverage that people can consider for their office depending on their unique circumstances. These are just the common types of insurance that should be considered.
What is an Office Insurance Policy?
Office general liability insurance is liability coverage that protects you and your commercial office against bodily injury or property damage claims where your office is legally liable for the damages.
Whether you operate a home office or lease/own commercial office space, office insurance can help you manage and mitigate risks associated with running the office and performing your day-to-day activities. For example, your office insurance policy can protect you from risks associated with your directors & officers, account receivables, commercial property, commercial fleets, etc. If you operate a home-based business, your homeowners insurance policy will likely not cover the contents and damages associated with your business operations. Purchasing an office insurance policy will be able to cover the injuries and damages that might arise.
Do I Need Insurance If I Rent an Office?
The short answer is yes, it’s recommended to purchase office insurance even if you don’t own the office space. In some cases, the leasing company might ask you to purchase office insurance or require that you show proof of appropriate office insurance coverage.
Even if you rent an office, there are still risks that could arise from your operations and you will still have equipment and other commercial property stored in the office.
Where Can I Get An Office Insurance Quote In Canada?
Whether it’s your trusty “swingline” stapler or your company auto, getting property and casualty risks managed is top of mind when you are thinking about “Where can I get an office insurance quote in Canada?” Your office may be home-based, bricks and mortar or one of several across the country and in the course of day-to-day operations both your people and your premises face countless risks. It could be your directors, property, or accounts receivable or other risks – but running an office means managing risks. Across Canada, our team of insurance advocates understand what it takes to anticipate and manage office risks as well as available options. That’s why we can deliver a comprehensive insurance quote that will meet the unique needs of your business and provide concrete options when you are looking for answers to: “Where can I get an office insurance quote in Canada?”.
Where Can I Get An Office Insurance Quote In Canada?
Whether it’s your trusty “swingline” stapler or your company auto, getting property and casualty risks managed is top of mind when you are thinking about “Where can I get an office insurance quote in Canada?” Your office may be home-based, bricks and mortar or one of several across the country and in the course of day-to-day operations both your people and your premises face countless risks. It could be your directors, property, or accounts receivable or other risks – but running an office means managing risks. Across Canada, our team of insurance advocates understand what it takes to anticipate and manage office risks as well as available options. That’s why we can deliver a comprehensive insurance quote that will meet the unique needs of your business and provide concrete options when you are looking for answers to: “Where can I get an office insurance quote in Canada?”
From coast-to-coast-to-coast, small business – typically operated out of a small office – drives our economy. In fact, according to government statistics, “small businesses, constitut(es) 70.5 percent of private sector employment…with…[Canadian] SMEs employ(ing) 90.3 percent of the private sector workforce.” 1
And with many small business leaders looking to get the most value for their insurance investment, getting an office insurance quote is an important first step. For instance, with more and more climate change-related events happening, events such as water damage to your contents and/or inventory should be taken into consideration. IBC – the Insurance Bureau of Canada – specifically notes that “…insurance options may be available for situations such as: inventory destroyed by water gushing from a broken water pipe or water entering from openings caused by an insured peril, such as wind and water or raw sewage that backs up through…floor drains – depending on circumstances, sewer backup coverage may be available.2.
We’ll start by asking some fundamental questions about your operations – for instance:
- Where is your office located?
- What are your biggest potential liability exposures?
- What losses has your business experienced?
- What is the current value of your property? Inventory?
As experts in getting Canadian businesses ALIGNED with commercial insurance solutions, our insurance brokers will assess your needs and connect you with the best options. Some office-related coverages that you may want to consider include:
- Business Interruption
- Auto
- Accounts Receivable
- Cyber
- Commercial General Liability
- Commercial Property
- Employee Theft
- Employment Practices Liability
- Directors & Officers
- etc
How Do I Get Office Insurance?
Getting an office insurance policy is easy with the help of ALIGNED. We offer comprehensive office insurance coverage options that will meet your specific needs. Contact an ALIGNED commercial insurance specialist for a free quote, or use our free online tool.
| ALIGNED Across Canada 100% Canadian owned, ALIGNED is a premiere insurance brokerage that serves nearly 1,400 clients across the country. As experts in delivering business insurance Canada solutions and consistently recognized as one of the best business insurance brokers in Canada, ALIGNED’s offices in Toronto, Calgary and Vancouver are supported by a national operations centre in Cambridge, Ontario. Uniquely within the industry, ALIGNED business insurance brokers create, negotiate and deliver the best business insurance and risk management strategies/solutions to organizations like yours. As one of Canada’s fastest growing insurance brokerages, we invite you to learn more about us and connect @ALIGNEDonRisk, on Facebook or LinkedIn. |
Sources:1 Government of Canada: Innovation, Science and Economic Development Canada
2IBC.ca Business Insurance Coverage