Congratulations on your new office! Indeed, it is a result of your hard work and a big achievement for you. Though you might have done everything to beautify its interiors, have you protected it from the fire?
You might counter this question by saying that you have installed various fire safety equipment, like a fire alarm, fire extinguisher, etc.; and you don’t need a fire insurance policy. However, accidents can still occur to disrupt your business.
Do you know, a major fire in Chandni Chowk, Delhi gutted over 50 shops and damaged goods worth crores in the area?
Although you might have taken every step to secure your business, it is daunting to negate the possibility of fire accidents. Therefore, it is imperative to purchase Fire insurance for your new office to give its complete protection.
Here are some of the points which will help you in understanding the importance of Fire insurance for your new office
Cover huge losses or damages:
When a fire erupted, it causes flame and smoke which can damage your office or its content. Even the water used to douse flames can destroy the office building and stocks and other goods kept there. A fire insurance policy will help in covering losses or damages and, thus, ensure your business stays afloat.
Share financial burden:
If you don’t have a fire insurance policy, you would have to pay for all the losses or damages from your pocket. There would be no one for your assistance. In some situations, a fire can lead to the complete closure of your business also. It can lead to a financial crisis which can make it tough to rebuild the office and procure content.
Replace damaged goods:
Fire insurance coverage not only covers the loss or damage to the building but also helps in replacing the goods that caught fire. The insurer also provides for maintenance charges for those damaged machines and equipment during the fire.
Temporary accommodation:
In some situations, a fire insurance policy also arranges for alternative accommodation for your business in case it is damaged by a fire. Thanks to a fire insurance policy, you can continue serving your clients.
Give a sense of security:
The existence of a fire insurance policy in case of uncertain risks like fire gives you inner peace and satisfaction. Even if a fire occurred and you suffer losses, you are satisfied because you have a fire insurance policy and the insurer will reimburse your losses.
Cover medical expenses:
In case a fire accident caused injuries to your employees, your insurance policy will pay the compensation. It can help in covering medical expenses as well.
Read More: What Are the Risks Covered Under Fire Insurance Coverage?
Fire insurance is unexpected but is very destructive in nature. Therefore, it is indispensable to purchase a fire insurance policy that not only covers the risk or damages caused due to fire but also offers protection against various perils like explosion, implosion, lighting, bush fire, missile testing operation, riot, strike, etc. Further, if you don’t own a building, you can buy a fire insurance policy for your content also. Fire insurance coverage offers wide protection to various kinds of assets, including machinery, stock, electrical fittings, etc.
Moreover, you can customize the fire insurance policy as per your business requirements. Also, while choosing the sum insured under the fire insurance plan, make sure the coverage is sufficient to help you cover losses or damages at the time of the accident.
Read More: How to File a Fire Insurance Claim
How Can SecureNow Help You?
While knowing the importance of a fire insurance policy is a good thing, you would have to take some steps to buy the right fire insurance policy. Considering the benefits offered by fire insurance coverage, it is necessary to carefully understand your business requirements. And choose the coverage accordingly. There is no use in buying a fire insurance policy if the coverage is inadequate.
Strongly advised taking the help of SecureNow which is a leading corporate insurance advisor. It can help you choose the right sum insured as per your requirements. You only need to fill in some basic details about your requirements to generate fire insurance policy quotes. That you can further compare it to buying the right fire insurance policy.
About The Author
Shivani
MBA Insurance and Risk
She has a passion for property insurance and a wealth of experience in the field, Shivani has been a valuable contributor to SecureNow for the past six years. As a seasoned writer, they specialize in crafting insightful articles and engaging blogs that educate and inform readers about the intricacies of property insurance. She brings a unique blend of expertise and practical knowledge to their writing, drawing from her extensive background in the insurance industry. Having worked in various capacities within the sector, she deeply understands the challenges and opportunities facing property owners and insurers alike.
