Office Package Policy

Have you asked yourself this: "Have I insured my office against all threats that could impact my earning?" If not, or if you have not taken any action toward this then it's high time you acted. Any untoward incident could disrupt the functioning of your business and have financial implications. Thus it is important to protect your office premises and its infrastructure against unforeseen circumstances. Compare online and choose best Office Package Insurance Policy in India that protects your office & everything in it.

Office Package Insurance Policy Provides Insurance for such Offices as:

  • Commercial Offices
  • Government Offices
  • ITES and BPO Call Centers
  • Software Development Office
  • Office Premises, including warehouse and manufacturing premises

Key Features of Office Package Policy:

  • The Office Package Insurance provides protection against damage to insured property
  • Your business is in safer hands in the event of third party legal liability
  • Personal accidental coverage is offered
  • A tailor-made policy that protects your business against financial risks of fire and allied perils, like theft, burglary, machinery breakdown etc.

What It Covers and What It Doesn’t: Policy Inclusion/Exclusion

Office Package Policy Inclusion

 Office Package Policy Exclusion

Office Package Policy protects the office premises in perils like fire, earthquake etc. Some insurers also provide coverage for risks related to terrorism. Moreover, coverage is extended for mechanical and electrical breakdown, fire and allied perils, burglary and accidental breakage as well.

Office insurance policy doesn’t cover damages due to normal wear and tear, steady deterioration or gradually developing flaws.

Cover the office premises against break ins, burglary and theft-related losses.

Intentionally made damages are not covered by the policy.

Some insurance companies offer coverage for the loss or damage owing to a dishonest acts of an employee such as an act of robbery, fraudulent conversion, misuse of official information etc.

Any loss due to war or warlike situation, nuclear or atomic radiation is not included.

Expenses incurred for fixing the glasses, housekeeping services and sanitary items.

Any illegal activity responsible for loss or damage.

Cost used in publicity tools including neon signs, hoarding for safety against fire, explosion, theft, lightning, flood

In case of fire if the actual registered property value is found lesser than the chosen sum insured, the claim for the same will be reduced in quantity.

The employees are covered for accidental death or injury during the tenure of employment. Third party legal liability cover is also included.

If there is any loss or damage due to pollution, that damage will not be covered.

Special assistance, if provided, in the event of accidental death of the insured or injury or disability.

Consequential losses are not covered, i.e.  if a severe tornado destroys your office, while the physical damages are covered but the loss of business revenue is not covered under the policy.

Compensation is offered in the event of loss of baggage while the employee is on an official tour.

The policy doesn’t cover for the loss where the manufacturer, repairer, supplier or other third party is at fault.

Office Package Policy- FAQs

  • Q: What is an office package policy?

    Ans: An office package policy is a comprehensive insurance package specifically designed to cover organizational infrastructure and establishments including IT/ITES sector, government offices, etc. This innovative cover allows you to safeguard your office property as well as employees under a single policy.
  • Q: Who needs office package policy?

    Ans: It doesn’t matter whether you are a big-firm owner or a small business owner, if you are operating out of an office space; you are going to need an office package policy to help you face the brunt of adverse circumstances, in case any unfortunate event takes place in your offices, such as fire or a burglary.
  • Q: What are the different types of offices that can be covered under an Office Package Policy?

    Ans: Office package policy is designed to cover different sectors such as ITES and BPO Call Centres, Government Offices, Commercial Offices, Office premises which include manufacturing plants as well as warehouse and Software Development Offices.
  • Q: What are the features of an office package policy?

    Ans: As the name suggests, this policy comes in a package which signifies that it offers coverage against various unprecedented threats. An office package policy not only safeguards your office premises against the risk of fire, earthquake, etc. but also gives you coverage against activities like burglary, accidental breakage, mechanical/electrical breakdown, etc. You can also get coverage for housekeeping services, sanitary items, publicity tools (such as neon signs) and safety appliances against explosions, lightning, etc.
  • Q: What are the exclusions of an office package policy?

    Ans: Office package insurance doesn’t cover normal wear and tear or gradual deterioration of office equipment. Furthermore, any loss caused to your office property due to war or war-like situations isn’t covered.
  • Q: What are the salient features of an office package policy?

    Ans: With this policy, you can get protection against any damage caused to the insured property due to the situations described in the policy. In case, you are facing any issues with third-party legal liability, the office package policy will come to your rescue. Along with protection against financial risks, this insurance policy also takes care of any personal accidental expenses incurred by your organisation.
Written By: PolicyBazaar - Updated: 03 July 2020
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