Keeping Our Flex Space Communities Safe: Why Coworking Insurance Matters for Enterprise Clients
Flexible workplaces have emerged as increasingly viable and vital hubs for collaboration, productivity, and networking for companies of all sizes. Research backs this up: Workers at more than 80% of U.S. companies can now choose from a variety of workplaces to match their needs on any given day. These shared workspaces offer businesses a wealth of advantages, including providing teams the flexibility to work in a professional environment without the constraints of traditional offices (such as long-term leases and often-uninspired design limitations).
When deciding to embrace flexible workplaces as your company’s office space solution, one crucial aspect is often overlooked: insurance.
Most coworking centers require General Liability and Business Property coverage to satisfy their building requirements, but there has not traditionally been a quick or easy way for either enterprise or small business owners to satisfy these requirements. In addition, beyond simply satisfying these requirements, many companies may not be aware of other coverages that they may need to stay safe — such as product, cyber, and professional liability.
A Streamlined Insurance Solution for the New Ways We Work
Founded in 2020, StartSure was purpose-built for coworking spaces and their clients. This modern, digitally native insurance solution allows companies to get covered quickly online and helps organizations and the flex spaces where they work stay safe and protected in an ever-changing marketplace.
And it’s not just for startups and solopreneurs: StartSure can insure up to 23 desks per coworking location in under 60 seconds and can provide multi-location policies, offering larger businesses the full-service, industry-agnostic security they need to navigate today’s business landscape.
As Tim DiPietro, StartSure Founder & CEO, explains: “Many of today’s business insurance policies were created in the 1980s and haven’t been updated since. With today’s rapidly changing work environments, companies need a new modern insurance solution to ensure they are covered for situations that may arise, including evolving concerns such as cyber security and professional liability. StartSure blends next-gen technological advancements with the expertise of insurance professionals to meet these challenging new demands.”
Here are the top reasons why protecting your business with coworking insurance is an essential step to ensuring safety and success while modernizing your company’s office footprint:
- Protecting against accidents: When your team works from a flexible workplace, the last thing you want to worry about is physical accidents happening within the space. With the right coworking insurance, you can protect your business from unexpected legal issues if something goes awry.
- Safeguarding your assets: Your flexible workspace is filled with the various equipment and gadgets your company needs to run. If something gets damaged or stolen, insurance can help cover the costs of repair or replacement, saving you from an unforeseen financial headache.
- Ensuring necessary cyber protection: In today’s digital age, cyber threats are a real concern for companies of all sizes and across industries. With cyber liability insurance, you can protect your sensitive data and finances from online attacks, giving you one less thing to worry about in today’s online age.
- Providing professional peace of mind: If your company offers services of any kind, professional liability insurance is a must-have. It helps protect your organization from potential claims of errors or negligence, ensuring that you can focus on doing great work without worrying about unsubstantiated legal issues.
The Bottom Line
When running a business of any size, insurance allows leaders to easily and inexpensively protect all that you have worked hard to build from elements that are completely out of your control. By understanding the potential risks and liabilities associated with shared workspaces and investing in appropriate insurance coverage, individuals can protect their interests, safeguard their assets, and focus on what truly matters – building their businesses and pursuing their passions in a collaborative and supportive environment.
Preferred Office Network partners with innovative workplace solutions such as StartSure to offer our coworking centers and their clients a comprehensive suite of services and amenities that help power their businesses to continue to create, innovate, and advance the future of human potential. Connect with us to learn more about all of the ways we can support your business to be its best.