Why do I need office insurance?
Do you own your office and need to make sure it is protected? This optional upgrade provides small office insurance for buildings your business owns.
What is covered?
- Building property
- Physical damage or loss
- Newly acquired property
- Lost business income
- No deductions for depreciation
What is not covered?
- Earthquakes, floods and volcanoes
- Computer testing, installation or repair
Office buildings insurance does cover:
Your Hiscox building coverage includes the building structure, property used to maintain the building, indoor fixtures and flooring.
Your office building insurance protects you against risks like fire, lightning, explosion, windstorms, hail and smoke damage. Damage caused by vandalism is also covered.
We provide up to $250,000 of temporary coverage for a newly acquired or constructed building that you've owned for up to 30 days. After that time, you need to inform us to continue your office building insurance on that newly acquired or constructed building.
Since we understand how devastating a disaster can be, Hiscox small business insurance will pay the income your business loses and extra expenses incurred for up to 12 months if you cannot operate your business as a result of damage to your insured building. This would include up to 60 days of ongoing employees payroll expenses.
Buildings protected under a business owners insurance policy are valued at their replacement cost (not the market value). There is no deduction for depreciation. However, you must insure at least 80% of the value of your insured building or you may not be able to recover the full amount of losses you incur.
Office insurance does not cover:
We want you to understand our commercial property insurance. That’s why we’re open about what we do and don’t cover. The following is a list of key items we don’t cover.
We won’t cover you for losses caused by earthquakes, floods or volcanoes.
Hiscox will not cover damage to your property caused by the failure of a power, communication or another utility service supplier.
Your office building insurance does not cover any losses that arise from any damage to your building because of mistakes in the design, installation, testing, maintenance or modification of your computer systems.
Hiscox Customer Reviews
Mario, Richmond, VA
“Great for my small business”
I am glad that I found this group and it shows the real interest on my business and making it easy to understand, I am happy thanks
Jay, Bennett, CO
The online assistance was prompt and most informative.
Robert, Spokane, WA
They were able to help me understand a process that was new to me so I could select the coverage I need.
Jyoti, Methuen, MA
“We appreciate your help at every step. Thanks”
Very Good experience
Libertad, Port St Lucie, FL
“Excellent customer service”
Sheritta, Garden City, MI
“Simple and Streamlined Process!”
Ease of purchase and ability to pay for and print policy was easy and exactly what I needed. Great online experience. Keep up the Good Job!
This information is provided to assist you in understanding the coverage we offer and does not modify the terms and conditions of any insurance policy, nor does it imply that any claim is covered. Coverages are subject to underwriting and may not be available in all states.