Shops & Offices Insurance
What is Office Insurance?
Office insurance is actually not the technical name for the policy most office style businesses purchase. In the majority of cases an office insurance policy is technically called a BOP or Business Owners Policy.
A business owners policy is a form of package insurance policy that insurance carriers have created in an effort to meet the needs of common business classes.
Why do I need Office Insurance?
In most cases you need business owners insurance because the building owner of the space your business is renting requires that you carry general liability. But office insurance covers more than simply general liability; unforeseen accidents can happen even in perceived safe environments like an office. Somebody spills water on a computer, somebody else trips over upturned carpet and now you have a claim. The cost of this can quickly add up.
What is Shop Insurance?
A shop has three important aspects that any good insurance policy should keep at its heart. Those three things are your premises and stock (buildings and contents insurance), your customers (public liability insurance) and protection of outgoing costs should you have to stop trading (business interruption insurance). Get these things in place and anything else is down to the specifics of your business.
Do I need Shop Insurance?
Shop insurance is primarily focused on retail businesses that are run from a commercial property. If you have a pub, hotel or restaurant, or own a commercial property which you rent out to other businesses, you may well want a policy more specific to your risk.
The basic types of cover are standard across all retail shops. This makes building the basics of your policy straight forward. Having said this, no two shops are the same. Some make deliveries, some sell alcohol, some employ staff to install products in customers’ homes – the list is endless. Understanding your specific risks and tailoring a policy to meet those is our job!
Here at Milestone we can cover you for:
- Material damage
- Business interruption
- Employers liability
- Public liability
- Goods in transit
- Legal expenses
- Computer breakdown
- Book debts