Can I Get Insurance for My Mobile Office?
Mobile office retailers agree that taking out an insurance policy on your unit is a good idea, especially if it is situated in a crime-vulnerable neighborhood or an area susceptible to harsh weather conditions. “General liability and property damage insurance is recommended,” said a spokesperson for Portable Space Mobile Offices of Exeter, Penn. In fact, depending on the state your unit is located in, liability insurance is often required by law for a mobile office used as a conventional business office, according to Cassone of Ronkonkoma, N.Y.
Furthermore, many suppliers, such as Metro Trailer of Pelham, Ala., will rent modular office units only to companies that carry a minimum of $1 million in general liability insurance. Mobile Modular of Livermore, Calif., is more stringent, requiring customers to provide their own comprehensive insurance coverage for at least the complete replacement value of the unit in case of damage, destruction, theft or loss, plus a public liability insurance policy for $1 million per occurrence. Even if your company has such a policy, it is important to check with your insurance agent to see if it includes coverage for a mobile office, according to Valtran of New Bedford, Mass.
If it doesn’t, it is best to seek a mobile office dealer that offers its own insurance coverage on its products – which typically applies only to rentals. Exemplary of this is the choice of coverage available from ModSpace of Berwyn, Penn. One option is optional commercial general liability insurance, which not only meets the lease’s contractual mandate to be insured for up to $1 million per occurrence plus a $2 million yearly aggregate, but also shields the lessee against third-party claims for property damage and bodily injury and covers third-party medical payments for up to $5,000 a head per occurrence. ModSpace also offers a damage waiver option, which covers direct damage to the leased mobile office and its attachments, thereby exempting the lessee of fiscal responsibility for more than $1,000 for damage or loss to the unit.
Of course, not all mobile office companies offer insurance coverage as comprehensive as that, so it’s best to research several suppliers within a reasonable distance to determine which would best meet your coverage needs and budget.