Get Office Insurance Online for your Commercial Property
An office insurance is a type of insurance policy that protects an office and its contents within. Go Digit, Bharat Sookshma Udyam Surakasha policy (UIN – IRDAN158RP0080V01202021) covers you against fire and natural calamities such as floods and earthquakes.
However, since a lot of commercial properties can be at a risk of burglary, we also offer a separate burglary policy i.e. Digit Burglary Insurance Policy (UIN - IRDAN158RP0019V01201920) along with Go Digit, Bharat Sookshma Udyam Suraksha policy. This way, your office is protected from both fire and natural calamities and from damages and losses that could occur due to a burglary.
Not sure whether an Office Insurance makes sense?
Read on..
As per the India Risk Survey 2021 conducted by FICCI – Pinkerton as many as 9,329 cases of fire incidents were reported in India which is a serious case of concern for companies. (1)
Fire is voted as the fourth biggest risk to business continuity and operations. (2)
As per a report of United Nations Office of Disaster Risk Reduction (UNDRR), India is the third country in the world behind China and United States when it comes to the number of natural disasters between 2000 and 2019. (3)
What’s great about Office Insurance by Digit ?
Value for Money: We understand that running a business involves plenty costs and a fine balance. While Office Insurance is a pretty big deal, after all its essential to cover for both your office and everything present in it! But while property insurance premiums are usually high, we at Digit try our best to give you the best possible and most affordable premium to insure your property.
Complete Protection: With cover from natural calamities like floods, earthquakes and fires, our office insurance is a complete package that offers all benefits within one policy.
Digital Friendly: As Digit is one of India’s first online insurance companies, we try and keep all our processes digital, right from buying an office insurance to making claims. so even when there’s an inspection all you need is a smartphone and our Digit app to guide you through our quick self-inspection process. (Except for claims above Rs 1 lakh; as per the IRDAI, those have to be done by the appointed Surveyor)
Covers all Business Categories: Whether you’re looking to cover a large office building or small office space, we cover all business categories both big and small.
What’s covered in an Office Insurance by Digit?
What's not covered?
Any deliberate, willful or intentional act by anyone is not covered
Any consequential losses aren’t covered
Mysterious disappearances and unexplained losses will not be covered.
Additional valuables like curios, work of art or unset precious stones will not be covered.
Machinery breakdowns that aren’t a result of a natural calamity, fire, explosion, implosion, etc. will not be covered.
Losses caused due to war, or nuclear disaster will not be covered
Types of Office Insurance Plans
At Digit, our insurance covers your office against fire and natural calamities such as floods and earthquakes. But as offices are also at a risk of burglary, we also cover burglaries under a separate policy.
The option suggested herein is just out of the permutation of various coverages under Go Digit, Bharat Sookshma Udyam Suraksha for customer convenience. For more details, please read and refer to policy terms and conditions carefully
For easy understanding, we have differentiated coverage options as below:*
| Option 1 | Option 2 | Option 3 |
| Covers only contents of your office. | Covers both your office premises and its contents. | Covers your building. |
Things to know about Office Insurance
What is ‘content’?: Contents in an Office Insurance refers to the primary items in your office. For example, if the contents of the office are damaged in an earthquake or any other natural calamity, it will be covered by the policy.
- What do you mean by ‘building’?: Building in Office Insurance refers to the physical building of your office.
Who needs an Office Insurance?
Very often, people assume that a property insurance is only for people who own properties. However, at Digit we also provide property insurance policies for those who’ve rented offices for their respective businesses. So, if you’re someone who falls into this category, a property insurance is designed for you too!
Even when your business has just a small office, Digit’s Office Insurance is suitable for you. An office insurance would be vital to protect your business from any potential losses and risks that could arise out of circumstances that are completely out of your control, like as natural calamities and burglary.
If you run a chain of general stores, restaurants or a medium sized enterprise; a property insurance is also suited for medium sized business owners to cover for any damages and losses that could be caused due to a burglary, fire, explosion or natural calamities such as floods, storms and earthquakes.
If you’re someone who owns multiple properties owing to the large operations of your business, a property insurance is vital in protecting not one but all your properties that will not only help reduce business risk, but also improve goodwill for being a responsible business enterprise.
What are the benefits of an Office insurance?
Take a glimpse through the key benefits of a building insurance in India:
- Coverage Against Unforeseen Circumstances - It safeguard your office and its contents against all unforeseen losses and damages such as fires, burglaries, natural calamities and explosions, amongst others.
- Reduces Business Risks - An office insurance also comes with customized policies to protect your office and its contents, thus reducing the risk of losses in the occurrence of events such as a fire, earthquake, flood, burglary, etc.
- Peace of Mind - When you know your office is covered and protected for, you need not worry and stress about your shop and its protection, because your insurance provider will have your back!
How is an Office Insurance premium calculated?
Your building insurance premium will be influenced by the following factors:
- Type of Building - The kind of building you’re insuring will have a direct impact on your office insurance premium. For example, an entire building would have a higher premium than that of a single floor office space.
- Age of Building - Like any other insurance policy, age is a prime factor in determining premium prices. The older the building is, the lower would be its premium and vice versa.
- Area of Property - The area of the office to be insured also has a direct impact on its insurance premium. This is because a larger property will have a higher sum insured and therefore a higher office insurance premium.
- Security Measures - Many offices have various security measures put in place to protect them from risks such as burglaries and fires. Therefore, if your office has these, your risk and therefore office insurance premium will be lower.
- Additional Coverages - While a office insurance mainly covers for the office and its contents, there are other priced possessions such as curios, art and jewelry on display. To cover for the same, you can choose to opt for add-ons that will give you better coverage and, consequently increase your office insurance premium.
Why should I take up an Office Insurance online?
There are many office insurance policies available offline, even with traditional insurance companies.
However, buying a office insurance online benefits you in the following ways:
- Saves you time: Buying insurance for your office space online can be bought in a matter of few minutes.
- Quick claims: With online insurance like ours, claims can be made and settled easily, thanks to our smartphone-enabled self-inspection process.
- Less paperwork: As a digital insurance company, we barely have any paperwork involved! We use it only if absolutely necessary and based on the situation, we might just ask for one or two documents.
Tips to compare building insurance plans
Deciding on the right office insurance can be quite confusing. You will be choosing the best way to protect your office and your business after all!
To make your decision-making process easier, here are a few important aspects you could consider when looking for the right insurance for your office:
- Coverage Benefits - The most important part of your insurance is the kind of coverage you’re getting. What does your office insurance cover you against? Does it cover only your office space, or will it also include the contents of your office? Always look at what is covered and what is not covered to help evaluate the most valuable plan to you.
- Sum Insured - Sum insured is the highest amount you’ll be covered for in the case of a claim you make. So be sure to pick an office insurance that allows you to customize your sum insured based on the total value of the content in your office. Remember, a higher sum insured also means a higher insurance premium.
- Ease of Claims - Claims are the most important part of any insurance. Because, when you face a loss, that’s what you most! Therefore, make sure you pick an office insurance based on the claim settlement records and processes. You would want to go for someone who has a great claim settlement ratio, and one that will settle your claims quick!
- Add-ons Available - Sometimes, you need more coverage than the basic plan benefits. This is where add-ons come in handy. Different insurance providers will have a different range of add-ons for you to choose from. So, compare your options and see what works best for you and your office.
FAQs about Office Insurance Online in India
Is an office insurance mandatory in India?
No, an office insurance is not mandatory yet by Indian laws but is highly recommended to avoid potential losses. This way, your office and its contents will always be protected and covered for in unforeseen circumstances.