When you’re setting up your own business, there are lots of things to consider. You need to create a business plan that takes into account everything from the cost of rent and utilities to your break-even point, so it can be all too easy to forget about insuring the very office you plan to work in, but to do so would be a huge mistake!
Here are just a few reasons why office insurance is so vital:
It Protects Your Valuable Contents from Damage
There’s no point spending hours looking for the best business loans and getting help from Unsecured Finance Australia, so that you can buy all the expensive equipment (computers, servers, scanners, printers) you need to make your startup a success, if it’s just going to get damaged a few months down the line. Of course, you probably don’t think that it will get damaged – things like that rarely happen right? But you’d be surprised! All it takes is one break in, flood, power surge or computer hack to damage your equipment and leave your business unable to operate. If you’re a new business, chances are you won’t be able to easily replace the stuff you need… unless you have a great office insurance policy in place.
It Protects Your Employees
As a caring and diligent business owner, chances are you’ll follow health and safety to a tee and do everything you can to ensure your staff are happy, safe and healthy at work. Unfortunately, your diligence is no guarantee that something won’t go wrong and if it does, you’ll need office insurance to look after your staff through their period of illness and injury, and to protect you should a claim for compensation be made against your company, ensuring that you don’t get put out of business should you have to pay out a large sum, thus putting your employees in a difficult position too.
It Protects Visitors Too
Ensuring that clients and members of the public who visit your office are similarly protected is also pretty important for the sake of everyone involved, which is where an office insurance policy that included public liability insurance comes into play. This form of insurance will cover you should a visitor slip, trip, fall or be otherwise injured while on your property.
It Covers the Costs of Repairs and Rebuilds
No one wants to think that their office building will one day experience a fire, flood or similarly dangerous act of god. However, it is far from uncommon, and should it happen, not only could the safety of your employees, visitors and yourself be put at risk, but so could the structural integrity of your building.
Should the worst come to pass, a good office insurance policy would cover the cost of repairing or rebuilding your office, so you won’t have to wind your business down, end up bankrupt or put your staff out of a job.
The bottom line: Having an office insurance policy gives you peace of mind, but it also gives you much more than that – it gives you a guarantee that, no matter what goes wrong, you, your employees and your business will not have to suffer unduly as a result.