Sutherland Insurance understands that every office has unique needs. Our office insurance solutions are tailored to address the specific risk exposures of your business, providing you with personalized protection that fits your needs.
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What Is Office Insurance?
Office insurance is a type of commercial insurance specifically designed to cover the risks and potential damages associated with running an office.
Whether you work from home or have a large office with dozens of employees, our team of expert brokers can tailor your policy to cover your unique situation.
What Does Office Insurance Cover?
The insurance coverage you get depends entirely on your company’s needs. We are committed to finding policies that can cover everything business owners need, including:
- Business Contents in Your Office: Office insurance can provide crucial protection for the contents within your business. It ensures that essential office equipment, furniture, and inventory are safeguarded, offering financial support for repair or replacement. This comprehensive coverage helps keep your operations running smoothly, even in the face of unexpected events.
- Business Contents Away From Your Office: Office insurance with worldwide coverage can ensure your business contents are protected no matter where they are. This comprehensive protection helps safeguard against theft, damage, and loss, ensuring your business operations continue smoothly wherever your work takes you.
- Theft: Office insurance can provide essential protection against theft, covering the loss of business contents such as computers, office equipment, and valuable documents. If your office experiences a break-in, your insurance policy can help to reimburse you for stolen items, helping you quickly replace them and resume operations without significant financial strain. This coverage not only safeguards your assets but also offers peace of mind.
- Actual Loss Sustained — Business Interruption: In the aftermath of a fire, it can compensate for lost income and covers additional expenses needed to keep your business operational during the recovery period.
- Crime: Office insurance can provide vital protection against crime-related losses. It can help safeguard your business's assets, maintain financial stability, and ensure that criminal activities do not severely impact your operations.
- Commercial General Liability (CGL): CGL protects your business against claims of bodily injury, property damage, and personal or advertising injury that occur on your premises or as a result of your business operations. CGL coverage can be essential for protecting your business from a wide range of potential legal and financial risks.
- Tenant Legal Liability: Office insurance that includes Tenant Legal Liability coverage for the square footage you lease can help protect your business if you accidentally cause damage to the property you rent.
Do You Need Office Insurance?
Various types of companies should consider office insurance to help protect against risks to themselves, their business, and their clients. We have helped many businesses get the coverage they need, including:
- Professional services such as law firms and accountants
- Medical and healthcare offices
- Technology companies such as IT services
- Real estate agencies and brokers
- Creative firms and advertising agencies
- Nonprofit organizations and administrative offices
Any business operating from a physical location should consider insurance to prevent financial losses from theft, business interruption, or natural disasters.
How Much Does Office Insurance Cost?
The cost of an office insurance policy depends on the types of coverages you need. A small office of two or three people will typically need less coverage than an office with several branches across Canada.
In general, these are factors that may affect the cost of your insurance premium:
- Office location
- Annual revenue
- Services you offer
- Years of experience
- Number of employees
- Assets and equipment
Investing in office insurance can help protect your assets, ensure business continuity, and provide peace of mind.
Contact Sutherland Insurance today to learn more about our office insurance options and how we can help protect your business from unforeseen risks, or click below for your free quote.
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Frequently Asked Questions
- Am I required to have office insurance?
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Legally there is no requirement to have office insurance in Canada. However, it’s good business practice to have a policy in place to protect you and your clients from things like business interruptions, crime, or equipment breakdowns.
- What happens if my office is damaged or closed and my business can’t operate?
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Office insurance policies often include business interruption coverage, which can cover lost income and operating expenses while you’re unable to operate for a covered event such as a fire or severe storm.
- Do I need office insurance if I work from home?
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Having office insurance is important even if you work from home. Just because you don’t travel to go to work doesn’t mean you don’t work in an office — in fact, some home insurance policies won’t cover a loss related to the area of your home you work in. If you work from home, whether for yourself or someone else, having office insurance is a smart idea.
- What is not covered by office insurance?
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Every policy is different, but some common exclusions can include employee injuries, professional errors or negligence, cyber attacks, and vehicle accidents. Those events often require additional insurance policies for adequate coverage. Your employees’ personal property is also not covered under standard office insurance policies.
Additionally, insurance policies do not cover illegal or fraudulent activity, whether by you or your employees.