Office & Workshop Insurance

What is Office Workshop Insurance?

Office & Workshop insurance, also known as Business Insurance, or Business Package Insurance, is relevant for builders, tradies and subcontractors who have office facilities and/or workshops. It covers your office premises against events such as fire, theft, storm, malicious damage, as well as Public Liability.

Optional cover is available for business interruption, to help cover your lost income while your office is being repaired due to an insured event.

Why might I need Office & Workshop Insurance?

Cover for your office

Your main work might occur on the construction site, but your office is still an equally important part of your business to help secure new clients, plan projects and carry out all your business administration. If your office was damaged by a storm or fire or theft, keeping your business running could become a challenge. Taking out cover for your office with Business Package Insurance can therefore help ensure you’re able to get back on your feet quickly if your office is damaged as a result of certain events. 

Meeting clients in person 

Even before you start work onsite, you may meet with potential clients at your office or out in public. Any interaction with clients in person carries a liability exposure of personal injury or property damage, so Public Liability Insurance is also important to consider if you are meeting clients in person, whether that is at your office or at their homes.

What is covered under Office & Workshop Insurance?

Cover for your office & contents 

Business Insurance will cover¹ the cost to repair your office premises or contents if they are damaged as a result of an insured event. Under this policy, you can take out cover for:

• Office building (if you’re the owner of the building)
• Office furniture and other contents
• Computer & electronic equipment – portable electronics may also be covered while you take them outside of your office – this is an optional extra available for an extra premium
• Money kept at your premises (up to a specified amount)

Cover for your Workshop

In addition to your office premises, if you have a workshop, it is also an important part of your keeping your business running. Business Package insurance also provides the option to cover your workshop against insured incidents. This includes the option to cover tools you might keep at your workshop, as well as stock you keep on hand such as timber, tiles, door furniture and other materials.

Business Interruption

This is an important cover available under this policy, and helps cover lost revenue you incur as a result of an insured event. For example, if your premises are damaged by fire, and as a result of the damage, you’re unable to operate while your office is being repaired, then this feature can help cover the revenue you lose during this period.

Public Liability

Public Liability Insurance is also available under Business Package Insurance. This is designed to cover you in the event a client or any member of the public holds you responsible for a physical injury they suffer, or if their property is damaged due to your negligence. For example, if a potential client visited your premises and slipped over a brochure laying on the floor, and sustained a serious injury, they may take legal action against you. PL in this instance would step in and cover the legal fees associated with defending yourself as well as compensation you may be required to pay to the third party.

The events covered

Once you’ve decided which of your assets you need to take out cover for, you will then need to determine which events you’d like to be covered for under the policy. The coverage sections to choose from are:

• Cover for your Building & Contents – Business Package Insurance can cover damage caused by storm, fire, malicious damage and accidental damage. Examples include fire starting at neighbouring business premises, vandalism and Damage caused unintentionally by you or your employees, such as damaging the wall when moving furniture.
• Broken Glass – You may choose to have your Business Insurance cover the glass at your office or workshop. This is covered regardless of whether it is accidental or maliciously damaged by a third party.
• Theft  – This includes theft from your office and may also cover resultant damage to the building, temporary protection costs and replacement of locks and keys.
• Computer and Electronic Equipment Breakdown – Covers computer systems, air  conditioning and/ or electronic equipment at your office against sudden and unforeseen failure.