A Business Insurance policy often referred to as Business Pack, is a multi-section policy that covers your physical assets (like tools, equipment, stock and office contents) at your business premises from various insurable perils. The majority of Business Pack policies include Accidental Damage under the property cover, and perils like fire, storm, impact etc are all standard. Flood cover is usually optional and depending on your location and other risk factors, an extra premium can apply.

Business Pack also includes sections for covers like Business Interruption, Burglary, Money cover (including while in transit), Glass cover for fixed/plate glass including internal and external glass, Machinery Breakdown, and some include covers like Transit and Tax Audit also.

Office Insurance is a variation on the Business Pack, with slight changes to how it is structured to suit office based occupations, like Accountants, Lawyers, Consultants etc.

Most businesses will find their Public and Products Liability cover here also, as for the majority of occupations, this can be accommodated under a Business Pack policy.

“I often see business owners opt to only insure their Public Liability when starting up, as this is regularly seen as the most important exposure for a business. However, the cost of not insuring your business assets, or the businesses income for example, can far outweigh the additional premium you might have paid to begin with. If a fire occurs and the business has to replace everything to continue operating or continue paying staff while repairs occur, would you be able to meet that cost if not insured?”

The benefit in working with an experienced broker is the partnership with an insurance expert, who can review your business in-depth, identify your key exposures and help you to understand the impact on your business, advocating your interests along the way.

Finding the best Business Pack or Office Insurance fit is just the icing on the cake from there.