Much of the economy in SA depends on the small to medium-sized businesses that have sprung up due to the fact that times are tough; people are finding themselves out of jobs in the formal market, hence the birth of many small to medium enterprises. Many people run businesses from home, and feel that they are adequately covered should their equipment get stolen or damaged, but this is seldom the case. Taking out enough cover under the umbrella of office insurance will ensure that you are adequately covered should your very important equipment need to be replaced.
When you broach this with your insurance broker, you will need to give your office insurance broker the necessary information so that your individual specified items will then be correctly listed on your insurance schedule.
When covering individual electronic equipment
- You need to give the brand of the machine that needs to be replaced.
- You need to furnish the type and model of the item.
- And most important of all, is you need to furnish the insurers with a serial number of any electronic equipment.
Without this important information, your insurance company would not be able to list these items on your insurance schedule.
Your PC is usually covered under Household Contents if you are working from home, therefore individual office insurance would not be necessary if this is the case. The cover would then include provision for damage through fire, explosions, storms, theft, lightning, earthquakes and explosions.
Certain insurance companies will even go so far as to cover the software, but this has to be specified separately right from the outset, and proof of software costs would be required.
Not all power surges and incidental damages are covered by all insurance brokers; this cover has to be specified separately and will certainly push up the costs of your premiums.
If you need cover for the office, ensure that your office insurance is sufficient in order to protect your livelihood against any and all eventualities; consult your broker to find out more about what needs to be specified right from the outset.