Which would you rather afford – the cost of the insurance or the cost of replacing your office contents and the loss of revenue following an interruption to your business?
If you walked into your office on a Monday morning and everything had gone, how would it affect your business?
Most of us get annoyed with simple technical glitches like not being able to log onto a computer using the password we used a few hours ago…but what if all of your office contents were destroyed or stolen and you just couldn’t work?
Fires and flooding do happen and so does theft – being insured means that you will have help to pick up the pieces and be financially compensated for your losses.
Apart from the physical loss of the all-important computers and electronic equipment in a modern office there is also the costs involved in getting your business back up and running and potential loss of revenue whilst you do so.
If you haven’t got office insurance your business would have bear all these costs.
The immediate impact is on the running of your business. With all of your contents gone, you’d not be able to work or trade that day certainly, but perhaps for many more days after that too.
If your office premises have been badly damaged and cannot be occupied for some time then you would be spending time moving your operations to somewhere else, buying or hiring new equipment, re-arranging staff placements and making calls to clients to let them know of hold-ups.
The costs on this first day alone could be quite substantial – loss of a day’s work for you and your staff plus paying out for the replacement equipment and possible rental on a temporary office…at least.
And then there’s the slow down in your business while you pick up the pieces – client meetings cancelled, potential new leads lost, non-fulfilment of contracts and even loss of stock if you keep any in the office too.
It will all add up and that’s why it’s so important to have office insurance, regardless of where your office is – at home or at a different premises.
These costs would be covered by your insurance policy, meaning that whilst you would still have the inconvenience, you wouldn’t have these additional costs.
You need to be insured for the cost of starting again and replacing everything, plus loss of earnings incurred during the business interruption.
Everything must be accounted for to make sure you are not under-insured, which sadly, so many businesses are.
We will talk to you about your office, how you use it and the contents, to make sure you have the right cover in place.
Please get in touch for a no obligation conversation to find out more about how we can help you with office insurance, renewing your insurance or checking you have the right cover in place.