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By Kevin Bradley
Panama commercial offices include a wide range of businesses, from financial consulting, legal, real estate and accounting firms to personal private offices. Whatever the industry, they all have one thing in common—the need for commercial office space insurance. Here in Panama, comprehensive office insurance can protect you from the unexpected events that happen every day in and around your office.
Property coverage protects your business and office equipment from loss due to fire, theft, explosion, earthquake, water damage, smoke and even looting/civil unrest.. Additional risks covered include electronic equipment (in or out of the office), breakage of glass and damage/loss to property belonging to third parties.
Some policies even have provisions for temporary relocation and business interruption expenses.
Theft/burglary coverage includes robbery of equipment, office furniture, assault inside and outside of the office with limited coverage for the safe and petty cash. Damage done to building, as a result of the forced entry, may also be covered.
Did a water leak initiate in your office and damage your neighbors? Premises and operations comprehensive liability protects against claims resulting from personal injury or property damage to clients or other third parties. In most local policies, there are special provisions for fire legal liability, owners and tenants comprehensive liability, elevator comprehensive liability and coverage for third party medical expenses.
Additional benefits may include emergency locksmith and ambulance service.
The rates for this coverage vary from one company to another, but can be surprisingly low. For a basic $10,000 office contents policy with all of the above described coverage, the premium could be as little as $100 a year.