Office Package Insurance Policy
Just as a factory or a warehouse is an important part of a business organization,
the company offices are also important. While the factory produces goods and the
warehouse stores them, the office space is used for executive, administrative and
managerial functions. Just as you protect your factories and warehouses from fire
and related perils by buying a fire insurance policy, shouldn’t there be an insurance
cover for your office premises too? An office package insurance policy provides
the necessary coverage for your offices which are also an integral part of your
What is an office package policy?
An office package policy is an insurance policy which covers the office premises
against damages and losses due to covered perils. Whether you have a commercial
office, a Government office, call centers or any other official premise, you can
get an office package policy for the same.
An office package policy offers an extensive scope of coverage covering the following
- Fire and other related perils - The office is covered against fires, lightning,
storm, flood, explosion or implosion, bush fire, missile testing operations, etc.
- Burglary and break-ins
- Baggage – this covers the baggage of employees travelling to another place for any
- Money insurance –if the money of the company is being transferred to a bank or from
a bank or to and from a safe in another official premise and it is lost due to accidents,
such a loss is covered under money insurance
- Electronic breakdowns of equipment used in the office
- Coverage for the cost of promotional material for the business like neon signs,
glow signs, etc.
- Losses caused due to dishonesty or infidelity of employees
- Expenses incurred in housing the business premise in another location while the
office is being shifted to another place due to a loss by fire.
- Loss or damage to fixed glass and sanitary fittings in the office premises
Though the coverage extended by an office package policy seems all-inclusive, there
are certain instances which are excluded from the scope of cover. These form the
exclusions in the policy and include the following:
- Any loss or damage suffered due to criminal and unlawful activities
- Losses or damages suffered due to war or nuclear perils
- Damages due to normal wear and tear of equipment
- Consequential losses
- Willful losses
- Any loss or damage suffered due to radioactive contamination or pollution
How to buy an office package policy
There are many general insurance companies which offer an office package policy.
To buy the best policy you should always endeavor to compare office insurance policies
available in the market. The online platform has also made the comparison process
easier. Paybima is an online website which allows you the facility to compare office
insurance policies. You can compare the plans, choose one which suits your requirements
and also buy the plan online. Paybima’s online purchasing process is easy with minimal
documentation. So, what are you waiting for? Insure your office premises today!