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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 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.

Coverage offered

An office package policy 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-ins
  • Baggage – this covers the baggage of employees 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
  • 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

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

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!