Office insurance is a type of commercial insurance policy designed to help mitigate the risk of financial loss for business owners who operate out of an office setting. Because so many different types of businesses work out of an office, it's a more generalized type of commercial business insurance. That being said, each office insurance policy is written to address the unique needs of the individual policyholder, so there's no need to worry that it won't be tailored to your specific risk exposures.

Generally speaking, Ontario office insurance offers two overarching types of insurance coverage: commercial property insurance and commercial liability insurance. Each category contains various types of coverages, such as business property insurance or commercial general liability, to protect you against unexpected expenses for the perils you and your business are most likely to encounter. That could include the cost of restoring your office space following a destructive natural disaster and replacing damaged or destroyed items, or it could mean that you're able to receive insurance compensation to deal with the costs of litigation should you or your employees be accused of causing third-party bodily injury or third-party property damage, along with a wide assortment of other situations.

Any business operating out of an office building needs financial protection from the correct type of Ontario office insurance. This encompasses an extensive range of industries and professions. Some of the many types of offices we can provide office insurance for are:

• Marketing offices
• Financial services offices
• Law offices
• Doctor or dentist's offices
• Design services offices
• Home business offices

Yes, you do. Business owners who run home-based businesses often assume they don't need Ontario office insurance because they don't work in an office—but that's not true. They work in an office; it just happens to be in their home. While you likely already have homeowners insurance or tenant insurance to cover your residential property and belongings, it's essential to understand that your home insurance coverage may not apply to the equipment you use for business purposes and may not even cover damage to an area of your house that is specifically used for your business. Suppose it does provide some coverage for those areas and items. In that case, it's probably insufficient to prevent you from paying out of pocket for property damage costs like restoration and replacement. And, while your home insurance policy includes some personal liability coverage, it won't apply to the same situations and scenarios as commercial liability insurance. Speak to a Morison Insurance broker if you have further questions about your home-based business or if you would like to begin an office insurance quote.

Business Contents is a sub-coverage of commercial property. It covers furniture, electronics, artwork inside the building. It's essential to understand this type of coverage to ensure you have adequate coverage limits to get reimbursed for replacing everything you need to run your business.

The building owner's commercial property policy likely does not cover those improvements. It is the tenant's responsibility to insure their own improvements such as flooring, lighting, office kitchen and signage.

Commercial Crime Insurance covers employee theft, embezzlement and fraud. For example, an employee alters a company cheque to cash it personally. It's doubtful you'll be able to recover the missing money from the employee.

Small businesses are often far more vulnerable than large ones because large companies typically have their own in-house cyber security experts. Banking details, financial information, identity documents and trade secrets are at risk.

Home insurance may not cover business equipment or dedicated office areas, and even where it does, coverage is likely insufficient. Personal liability in a home policy won't cover commercial scenarios.