Office Liability Insurance for Internet Business?

[onlinehustla]

Anyone out there have commercial insurance for an office that has no outside visitors? Are you paying less because it's employees only? Now that I have a couple full time employees locally, my business has out grown my home and I went out and rented a small commercial office. My landlord just told me he needs to see proof of "comprehensive general liability insurance" of $2 million minimum... and the quotes I've been getting don't differentiate between my "work space for employees" and the busy office next door such as a dentist or law firm. Seems dumb to me as my office is at a much lesser risk of a customer injuring themselves, etc. but I can't figure out how to get a cheaper rate, any tips would be appreciated.

 

[threehundred]

I own an office building, and as the landlord, I have my own insurance which covers liability. I'm not sure why he would "require" it of you. I do not require it of any of my tenants, and they all have customers coming in and out.

 

[Firelead]

hiscox is like $23/month for 2mm. pretty sure there are cheaper places but I use hiscox. I also use them for other types of business insurance and been pretty happy so far.

 

[onlinehustla]

Thanks guys. Turns out I was told the annual price not the monthly price so that's why I was like WTF this is insane.

 

[Fatbat]

I own an office building, and as the landlord, I have my own insurance which covers liability. I'm not sure why he would "require" it of you. I do not require it of any of my tenants, and they all have customers coming in and out.

Of course you're going to have your own insurance on the building and common spaces, by why would you want to assume your tenant's liability? If a filing cabinet topples over onto your tenant's client's ankle, why would that be your responsibility?

 

[threehundred]

If a filing cabinet topples over on a tenant's client, that's the tenant's responsibility. Whether or not they have insurance doesn't determine their responsibility.

My insurance protects me. If they want insurance to protect their stuff, fine. If not, fine as well. My interests are protected.

 

[Deliguy]

$2m in liability is pretty cheap. I haven't seen anything that really adjusts based on if you have visitors or not. Insurance is a bit of an outdated system for risk assessment. You at least don't have to cover large inventory like a traditional business.