Small Office Contents Insurance - Arkwright Insurance

Small Office Contents Insurance

 Description of operations: Offices or business services, not otherwise classified, can be any of a multitude of operations.

Small Office Contents Insurance

Small Office contents:  Small businesses should ensure that they have an adequate cover by having small office contents insurance.  This is to cover:

  • Fit-out
  • Computers
  • Office equipment
  • Furniture
  • Documents
  • Security

Also, you can have a portable equipment insurance to cover:

  • Laptops
  • Mobiles
  • Cameras
  • Tablet

This covers risks against accidental, physical or malicious damage, fire, theft, and flood.  It also covers items you own or items you are responsible for while they are on the premises or on site.

Contents Insurance

Property exposures are usually light for an office. Both the property and theft exposures depend on the amount and type of computer and automation equipment on hand.

Crime exposures include Employee Dishonesty, which is always a concern for any operation. Money and Securities may be a concern if receipts are collected in the office.

Premises liability depends upon whether or not customers come onto the risk’s premises, or if the employees of the operation visit or travel to the customer’s premises. Life safety concerns are always high if visitors are on the premises of the risk. Aisles must be free of debris and without frayed or worn spots in carpet or cracks or holes in flooring.

Sufficient exits must exist and be well marked, with backup systems in case of power failure. Car parks and pavements must be in good repair, with snow and ice removed, and generally level and free of exposure to slip and falls.

Security of visitors is becoming more and more the responsibility of the owner or operator of the premises. Is there adequate interior and exterior lighting? What are other security measures in place?

Professional liability will depend on the actual operation. However, any professional must have an appropriate license and proper certification to operate.

Employers’ liability exposure will depend on the actual work being performed. Generally, there is a repetitive motion injury potential that can be addressed through ergonomically designed workstations.

Other exposures may be limited and may relate to Book Debts and Deeds and Documents. Exposures may be extended if the equipment is transported and used off premises. The evaluation must include what is taken off premises and how subject it is to theft or transport losses.

Minimum recommended cover:

Machinery and Contents, Employee Dishonesty, Book Debts, Deeds and Documents, Computers, Public Liability, Employee Benefits, Excess of Loss/Difference in Cover, Employers’ Liability

Other covers to consider:

Computer Fraud, Employment Practices Liability, Commercial Motor Liability, Professional Indemnity

Property exposure is from wiring, plumbing and heating units. It is important that the owner be aware of the electrical demands of tenants and that there is adequate wiring in place to handle it. All wiring should be up to code and any upgrades should be handled with appropriate permits. If the building has any unique architecture or design, the valuation may be a concern.

Crime exposure is from Employee Dishonesty. Receipts must be provided for all payments, and reconciliation between receipts and money received. All orders and disbursements must be handled by separate individuals.

Premises liability is a major exposure, not only within the premises and common areas, but also in the car parks, on the adjoining pavements, and in any parking structures or other common areas.

Aisle ways must be adequate and free of debris, with no frayed or worn spots in carpet and without cracks or holes in flooring. Sufficient and well-marked exits must exist, with backup systems in place in case of power failure.

Car parks and pavements need to be in good repair, and generally level and free of exposure to slip and fall. Snow and ice should be removed promptly. Security of tenants and visitors, both inside the building and in parking areas, is rapidly becoming the responsibility of the owner or operator of the premises. Is there adequate exterior lighting? What are other security measures in place?

Motor liability exposure is from limited unless there are service vehicles. All drivers must have a valid driving license and acceptable driving records.

Employers’ Liability hazards are normally services, caretaker-, or maintenance-related; back pain, hernia, sprain, and strain are the most common. What kind of training do employees receive, and what types of material lifting or conveying devices are used?

Other exposures are from Book Debts, Computers and Deeds, and Documents (lease). All data must be kept off premises for easy replication in the event of a loss. Contractors Plant and Equipment may be a part of the exposure if maintenance of garden and buildings is handled internally. Some building owners may display Specie and Fine Art in the common areas.

Minimum recommended cover:

Building, Machinery, and Contents, Business Interruption, Book Debts, Computers, Deeds and Documents, Employee Dishonesty, Public/Products Liability, Employee Benefits, Excess of Loss/Difference in Cover, Employers’ Liability

Other covers to consider:

Contractors Plant and Equipment, Employment Practices Liability, Environmental Impairment, Motor Liability

Broker: The covers listed below are suggested for consideration. After evaluating each of the listed covers, check the recommended blank by those that apply specifically to the client. Make sure both the exposure and the cover are explained thoroughly to the client.

Client: For each of the covers that the broker has recommended, initial whether you have chosen to accept or reject that cover in the blanks provided.

Please note that this list is NOT exhaustive. If you have a specific need not on the list, please contact us at Arkwright Insurance Brokers to address your needs and to arrange a bespoke policy.