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Office contents insurance is a must if you are like most businesses; that is, you rent your office space. When you are renting office space, you are responsible for proper insurance coverage of your expensive office equipment, including electronics such as photo copiers, scanners, printers, computers, phone equipment and servers. In addition, of course, you have office contents that also include furnishings such as desks, chairs, and even perhaps water coolers, coffee makers and other kitchen wares. In addition, there is proprietary information that you most likely keep on the premises as well.

Part of being a responsible tenant, whether you are renting a house, apartment or an office, is to have contents insurance. This covers your belongings in the event of a break in, where thieves walk off with your goods. It also protects against vandalism. This is all to protect your business from losses.

Office contents insurance protects against not only losses of physical materials, but immaterial losses as well. These immaterial losses can include such areas as reimbursing your business funds until you can get back to business after a loss of equipment and time that you have had to close the office. The contents are covered by insurance, but to what degree do you need coverage, may be the first question.

Value Your Assets

Like home content protection, when you start shopping around for office contents insurance, you first need to consider what you may need to get out of your insurance if you should have to make a claim. For starters, you will want to make sure that you are covered properly. Properly covering your assets means that you take into account the actual value of your contents. In addition, it means buying coverage that would reimburse you for the actual loss of your items.

Buying contents insurance for your business is a lot like buying coverage for other areas of your life. For one thing, you can buy either indemnity coverage or new for old coverage. Indemnity coverage would only pay you for how much your 1983 computer is worth. New for old coverage would provide your business the money to buy a new, comparable computer to replace the one from 1983.

Consider beyond the office contents insurance you need, the prices you can afford. As you go through quotes from competing contents insurance companies, make sure they are offering what you had requested. Some may be including indemnity coverage when you asked for new for old. Or, vice versa. In addition, you will want to make sure that you review the limits per occurrence and also the deductible prices.

If you need to save some money on your office contents insurance policy, because you, for instance, have a lot of very pricey equipment to insure, consider raising the deductibles. Though, if you are going to play around with the deductibles, it is imperative that you find a reasonable amount for deductibles. If your business can pay the amount without taking out extra loans, consider those deductible amounts.

Accident Coverage

In addition to insuring your equipment and furnishings, you also need to make sure that your employees and visitors are covered under your office contents insurance. If, for instance, you have heavy duty printing equipment, all the way down to a laminating machine that needs to be very hot, it is important you consider just how much injury could be caused by your machinery.

You also have to consider the number of employees. Though, that will probably be considered for you by the potential insurers who are offering up office contents insurance quotes to you. Though, your business coverage will come down to the location of your building, the size of your space, the amount of equipment and the number of employees you have.

Home Based Businesses Differ

If you believe that your home owners or rental policy will pay office contents insurance claims on your home based business, you are incorrect. If you have the latest and greatest technology in your home, but it belongs to your business, you need to buy separate coverage to properly insure your business. Still evaluate the value of your assets, and the cost if your business was out of commission. Just buy a policy separate from your home owners or rental policy.

Office contents insurance can serve your business well, whether you are a one person outfit, or a multi-national company with 100,000 employees. It is meant to help offset any property damage or injuries that occur in the workplace. It is vital that even if you have a home based business that you properly insure your company against physical property damage and injuries. It is also important to consider the losses that could occur if your company were not able to function for an entire month, for instance.