Shared Spaces Insurance
I work from the Sharp Project, which is an exciting collaborative workspace just north of Manchester centre. Operating from here has been fantastic for me, as it’s a great way to feel part of a larger group, without losing any control or direction. It’s collaborative and social; so ticks boxes for me on both business and personal levels.
One thing I found a common issue for people was getting insurance as an individual working from the communal and shared spaces. It was often difficult for individuals to get insurance for computers, contents and technical equipment.
People still seem to hit this brick wall, and a quick Google highlights these issues on various forums, however the good news is that usually it’s not that difficult to sort, nor is it cost prohibitive
With that in mind, please find a few tips on how to get insured for shared space working:
How to get insured
The best way to do this is to use a broker.
There will be exceptions, but generally when off-the-shelf products don’t fit, speak to a broker. It won’t necessarily cost more than going direct, but importantly brokers can get insurers to adapt products to meet your needs (otherwise your insurance could be invalid)
What security do I need?
Even for a shared workspace, there will be some security provided, and some ways you can improve your own risk. Insurers who provide shared workspace insurance would normally expect you to have something akin to the following:
They will expect the main premises itself to be well protected to control which individuals have access to the shared working environment, as this reduces the likelihood of walk-in theft. Usually they would require the main entrance to be protected by a key-pad/fob entry.
Laptops and Portable Equipment
Portable items such as laptops and cameras are easier to steal, particularly in a shared workspace. To reduce this risk, shared workspace insurers will usually put conditions on the policy, such as
- Placing portable equipment away in locked cabinets or drawers overnight
- Securing portable equipment with inexpensive cable locks
Desktop PC’s are not usually subject to this, as it’s more difficult to slip an iMac into a backpack without getting noticed
If you work in a shared office/workspace and need help with your insurance, then get in touch with us at Risk Box: