There is Really No Difference Between a "Real" Office and a Virtual Office
In the context of insurance, there is really no difference between a "real" office and a virtual office. The reason is because you still employ people even if you have them Working from home or other, non-office locations. This means that it is a good idea to have a financial product of this type to protect your entire operation. It doesn’t matter how small or large your business is; nor does it matter what specific form your business takes. Insuring your business and its virtual office spaces is sound business policy that simply makes sense.
Deciding on How to Ensure your Office
There are various ways in which to insure an office of this type, which is why there are various insurance products from which to choose. For instance, there is general liability, which is the most common and general way of insuring your office. It shields you from claims for either property damage or personal injuries. Other ways of insuring yourself largely depend on the types of services you are selling to your virtual office clients and customers. For example, there is also professional liability insurance, which is the kind of product you want to buy if you or your employees ever make any mistakes or cause negligence in your provision of services.
What About the Premiums?
Even though you have a virtual office or offices, that doesn't mean that you can circumvent state laws regarding what types of insurance you should have in place for the kind of business you are running. The law mandates that every business must provide its workers with certain forms of insurance coverage. Examples of these forms of coverage can take the shape of worker's compensation, disability and others in the same area. Of course, depending on the type of insurance that you have to carry for your employees, you will be forced to pay more or less in the form of premiums.
Do you need insurance for your virtual office space? The answer to the question is a resounding "yes!"
You do require some form of coverage when you are operating a business, even if that business has virtual offices instead of "real," traditional office space. The law even mandates this to be the case, so it is best to speak with a business insurance broker in case you have any doubts.