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This is a broad term which is the widest insurance cover that you can purchase. It`s probably not what you would normally think of as an `accident` as it is really referring to incidents beyond your control, fortuitous or just not deliberate. You some times see this on `Motor Insurance` policies where the cover is not as wide as `Comprehensive`.In simple terms this is like a shopping list of individual insurance covers, called perils, that are either available or apply to a specific policy. The list states exactly under what circumstances the insurance cover applies. Effectively these perils are the standard cover provided by the insurer and will differ between each insurer. In some circumstances these may be extended to include Accidental Damage.Office Insurance is a package of insurance covers designed to meet the needs of most premises based service industries where there is little or no manual work undertaken away from the premises.
Because of the reduced risk of a liability claim these policies tend to have a more simple rating structure that is based around the property values at risk and so they are simple to rate and available at competitive prices.
Under this type of policy we tend to promote cover on an ‘Accidental Damage’ basis but some insurers still only offer ‘Standard Cover’ with any ‘Accidental Damage’ cover being an optional extra. When asking for a quotation it would be helpful to know which basis of claims settlement you would prefer.
Under a standard form of office policy you would normally expect to see cover for:-
• Contents including a seasonal increase on stock
• Business Interruption
• Book Debts
• Increased Cost of Working
• Damage to internal and external fixed Glass
• Theft of Keys and Locks Replacement
• Loss of Money in transit or in a locked safe overnight
• Refrigerated Contents – for Foods and the like
• Public and Products Liability
• Employers' Liability - £10,000,000 limit of indemnity
• Personal Accident (Assault)
• 24 hour Legal Helpline
• Index Linking
With potential Optional extensions for:-
• Accidental Damage on Contents
• Buildings
• Accidental Damage on Buildings
• Subsidence
• All Risks on Portable Property
• Increased limit of indemnity on Public and Products Liability
• Terrorism
• Theft by Employees
• Electrical or mechanical Breakdown of Equipment
• Computer Breakdown
• Legal Expenses
