A commercial office space is quite a versatile location. It can be the ideal place for most any type of business that needs to meet with customers or provide a service behind the scenes. As a business space, it is important that the owner of the building and the owner of the business have the proper insurance in place. Business insurance for office-based companies needs to be based on their risks, but should be as comprehensive as possible to minimize costly losses and lawsuits.
Business insurance for office spaces needs to address any type of assets the company owns. Generally, this will include your building itself (especially if you own the structure) as well as equipment, furnishings and signage. Property insurance generally helps minimize risks related to storm damage, fires or theft.
Liability insurance is always important. Many companies that operate out of an office space are professionals. This means they provide a professional service to customers or clients. From doctors to dentists to accountants and advertising managers, your customers or clients are counting on you to provide the highest level of service. Should something go wrong, it becomes very important to have business insurance with ample liability coverage. It can help to protect against negligence. Additionally, it aids in protecting the business from losses related to trips and falls on the premise.
From here, businesses need to consider their other risks. Your company may benefit, for example, from professional liability insurance, a higher level of coverage ideal for professionals. You may need to consider workers compensation insurance if your business employs a staff. It may also be valuable to purchase a combined commercial auto insurance policy with your business insurance if you operate a vehicle as a part of your business’ functions.
One way to reduce costs is to purchase a bundled policy, called a BOP plan. It offers most of the business insurance you need in one place and allows you to add more depending on the specific risks your office may face. Work closely with your insurance agent to get the very best level of coverage possible to keep your office protected from risks.
Get the coverage you need. Call Skogman Insurance for more information on business insurance.