My colleagues and I were having a leisurely discussion this morning during our tea break.
The tea-lady accidentally dropped a milk cup and when she picked it up she cut her hand and it started bleeding.
Luckily it was a minor incident, but one of my fellow colleagues casually joked that she must put in a claim for medical expenses against our boss's insurance.
As her "medical expenses" were limited to some disinfectant and a bandage from the first aid kit, everyone had a good chuckle and we continued with our day to day tasks.
This minor little accident over tea-time actually got me thinking...
Most companies and corporations usually have some sort of business insurance in place.
Different things are covered under different policies, but business insurance could generally cover anything from the structure of the building to injuries occurred inside of the building or office space.
What a lot of companies don't realize is that there is a difference between the type of business insurance mentioned above and another type of office insurance, termed office contents insurance.
It does not matter if you work from home or in a large building of a major corporation, it is important that the business is adequately insured in case something goes wrong.
This type of office insurance is often available as at a very affordable price since it can basically be purchased as an add-on to an existing policy.
What does office contents insurance cover? As the name mentions, such a policy basically cover the content of your office.
This includes everything from your office furniture to kitchen utensils and even stationery! Most people would claim from their office insurance policy as a result of burglaries.
Thieves generally know that a lot of office buildings are empty at night and they won't hesitate helping themselves to whatever they can get their hands on.
Other claims, usually of the more expensive kind, are caused by acts of nature (storms, lightning damage or trapped water) and fire.
The biggest loss the company would suffer is usually in the form of revenue being lost in the time it takes for the damages to be repaired.
There are many office insurance policies available to cater for different types and sizes of businesses.
As you can imagine, a small work-from-home office with 3 staff members would not require quite the same amount of cover as the corporation with the 10 storey office block and 120 staff members.
The most important thing is that you are adequately covered.
Make sure you have a good idea of the value of everything in your office.
If you have an expensive leather couch in the waiting room area, don't try to save on your insurance premiums by only insuring something to the value of a fold up chair! When the time comes to claim (we hope it never does, but you never know!) the last thing you would need is to find out that you are underinsured and that you will not be able to replace everything you need! Make sure that your office insurance is in place - it's the right thing to do!