Frequently Asked Questions (FAQ's)
Why do I need Insurance?
Possible risk scenarios
To comply with your contractual commitment to the Workspace Group Plc – it is a condition of your lease to ensure that all customers have the necessary arrangements in place to protect themselves should a disaster happen i.e., fire, theft or injury. It is also a legal requirement to have Employers Liability in place (or face being prosecuted).
What level of Public Liability cover do I need?
By the terms of your lease contract with Workspace Group Plc, a minimum of £5m cover is required. If your business has greater exposure, you may want to increase this cover. Workspace Plus Insurance will help you to evaluate the level of cover you need to protect you and your business.
Why should I use Workspace plus Insurance rather than my bank or other advisor?
Workspace Group Plc is committed to ensure that our business relationship is mutually successful. Not all insurers will underwrite multi-tenanted properties. To ensure you are adequately covered and protected, through their specialist broker, Kerry London Ltd., and Allianz Insurance Plc, a number of products are available to meet your specific needs; with the option to add to the cover should you wish now, or in the future.
In the unlikely event you do not use Workspace Plus Insurance, you must disclose to your insurer that your business is located in shared buildings. Please be aware, if you fail to do so, and you make a claim, there may be difficulties, resulting in delays, refusal to settle your claim or cover you.
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We don't have any employees, why do I need Employers Liability Insurance?
Currently, any business employing people, or a Limited company, with one or more employees must be insured by Law. This includes a firm with one employee who is also the director. There are some exemptions and you may wish to check with your legal adviser if you are uncertain. If you have over 5 employees, you will also need a Health & Safety Policy and Statement as this is a legal requirement.
We want minimum cover and an indication of premium?
To ensure that you have adequate cover, you must give exact details on your company, i.e., a full business description, contents value, turnover, wages etc. What you do as a company and how you conduct your business activities, including financial information all have influence on the premium fee. Please contact Workspace Plus Insurance who will assist in providing you with the right cover at the right price for your business.
Can I insure for just Public Liability and /or Employers Liability?
Some Insurers will do this but the minimum premium can be very high for what is called "stand alone" cover, especially if you compare this with what our Workspace Plus Insurance cover offers you – ensuring you have the necessary cover to protect you and your business.
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Is cover immediately available?
Yes – once we understand you and your business and you have met the requirements of the insurance policy.
Are all trades and businesses automatically acceptable?
Not all trades are automatically acceptable, as unfortunately, no single insurer will underwrite every type of risk. Allianz Insurance Plc caters for the vast majority, but Kerry London as a Commercial Broker has access to all other major markets. If you are still unsure, please complete the Commercial Combined form as shown in the link on the 'Get Cover' page on this website or speak to one of our specialist advisors.
How do I pay my premiums?
Workspace Group Plc has negotiated that the Workspace Plus Insurance premium (normally of 12 months duration), can be paid over 12 months, interest FREE. In the unlikely event that your insurance cover is not placed with Allianz Insurance Plc, other insurers may charge a small interest charge for payment by instalments, unless we have agreed with you otherwise.
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If I leave Workspace premises do I need to cancel the insurance?
No - the policy can remain in force on the strict understanding that we have been advised of your new business address and we have confirmed this in writing to you. You will continue to be provided with the same terms with the exception of theft cover, which will be restricted to standard cover (break-in only) and the Public Liability cover may revert to £2m. You will also have the opportunity to take out optional cover; a specialist adviser will be very pleased to discuss this with you.
Why can I not have just an office policy and ignore work conducted elsewhere?
This is mainly due to the fact that Law and Regulations favour the Insured on interpretation of policy wordings and as such Insurers are cautious. For example, Public Liability and Employers Liability under an office Insurance policy may be required to provide cover for an outside activity e.g. a window cleaning business. More specific Insurance is available for this type of company covering both the office and window cleaning activities. A specialist adviser will be very pleased to discuss this with you.
What does the insurance cost?
The price depends on the risk information provided and scope of cover required. The Workspace Plus Insurance premiums are competitive and regular checks are made within our industry to ensure they remain good value for money.
In the unlikely event that you are offered a cheaper premium, we would ask that you contact us so that we can ensure you are comparing like with like. We are confident that we are offering you the right insurance for your business at the right price.
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My policy was previously underwritten by Norwich Union, how does this affect me?
As an existing policyholder with Norwich Union, you will continue to enjoy cover enhancements as set out in your policy. When your policy is up for renewal, we will discuss your requirements and the additional features / benefits now available from switching cover to Allianz. If it is in your best interests and you are in agreement, we may recommend that you switch to the new scheme insurer. A specialist adviser will be very pleased to discuss this with you.
My policy is up for renewal - what is the main benefit to me of switching Policy?
Increased cover with Allianz will provide you with Public and Tenants Liability of £5m (from Public Liability of £2m) and Full Theft cover. There is also a host of additional benefits, which a specialist advisor will discuss with you.
Contact us – we invite you to contact us so that we may understand your current or future requirements and provide more information on Workspace Plus Insurance.
Please contact us on our free phone
0800 163 500
Or send us an email