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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 business organization.

What is an office package policy?

An office package insurance plan 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.

Coverage offered by office package insurance

An office package insurance plan offers an extensive scope of coverage covering the following contingencies:

  • 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-misleading to damage of the office premises and loss of cash and other important assets.
  • Baggage - this covers the baggage of employees stored in the office premises when they are travelling to another place for any business-related purpose.
  • 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 are covered. the plan pays for the repairs of the covered appliances. Moreover, if the equipment is to be replaced, it is also covered under the plan.
  • 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. This is called temporary accommodation cover.
  • Loss or damage to fixed glass and sanitary fittings in the office premises.

Applicable exclusions

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

Also Read: Benefits of Office Package Insurance Policy

How to buy an office package insurance policy

There are many general insurance companies which offer an office package policy. To buy the best policy you should always endeavour to compare office insurance policies available in the market. Our online platform Paybima.com has made it easy to compare office insurance policies online.

How Paybima helps?

Paybima is an online insurance broker which allows you the facility to compare office insurance policies. We have tie-ups with all leading general insurance companies and you do not need to contact individual companies for quotes and inclusions. All you need to do is enter your company's details like industry type, address, contact number, etchant submit the enquiry, and our representative will contact you within 24 hours with the available policies. You can compare the coverage features of all available plans, compare their relative premium rates and make an informed decision. You can compare the plans in terms of coverages, relative premiums, etc. to make an informed decision. When you buy insurance plan online with Paybima, minimum documentation is required. We also offer you claim assistance services where our dedicated and experienced team helps you in getting your claim settled easily and without any hassles. So, what are you waiting for? Compare office insurance plans, choose one that suits your requirements and insure your office premises today!