From Levent and 4. Levent to Maslak: Office Insurance in the Business District

The Büyükdere Avenue axis, starting at Levent and running through 4. Levent to Maslak, is one of Istanbul’s areas known for business centres and office towers. Companies here, including international firms, often change offices, lease new floors as they grow or operate from more than one location. Every move and every expansion means the business insurance needs updating too. This guide explains how companies with offices in the district can manage their business insurance as conditions change.

As Ailenizin Sigortacısı, we have served clients from Maslak since 1996 and work with more than one insurance company. Our aim is to set up an insurance routine that keeps pace with your changing office needs and is reviewed with every move.

Insurance when moving office: the most skipped step

An office move runs alongside the lease, renovation, internet infrastructure and furniture. In that rush, updating the address on the business policy is often forgotten. Yet a business policy is issued for a specific address; not reporting a change can cause problems if damage occurs in the new office.

1. Tell your agency as soon as the moving date is confirmed.
2. Share the new office’s address, floor and building characteristics.
3. Ask how damage to items during transport is handled in the policy.
4. Add renovation and fit-out investments in the new office to the sums insured.
5. If items or storage remain at the old office, mention this too.

Several locations: one policy or separate policies?

Growing companies sometimes use an office in Levent, another in Maslak or a separate storage space. In that case the fixtures, risks and values at each location should be assessed separately. In some cases more than one address can be defined under a single policy; in others, separate policies may be more suitable. Which is better depends on the nature of the locations and the insurer’s conditions.

What matters is keeping a realistic list of the assets at each location. Knowing which computers, servers and equipment are in which office is necessary both for the right policy and for a fast claims process.

Tenant office cover in business centres

In business centres, building management usually takes out a policy for the structure and common areas. The assets inside a tenant company’s office are mostly the subject of the tenant’s own business insurance. These headings are usually covered:

• Fixtures, furniture and electronic equipment,
• Partitions, flooring, lighting and fit-out installed by the tenant,
• Office-type risks such as fire, water and theft,
• Liability to third parties, for example a visitor injured in the office,
• Policy options for losses that may arise if operations are interrupted.

We explain the general structure of package policies in commercial package insurance explained; here we focus on the fast-moving nature of the business district.

The lease and its insurance clause

Leases in business centres may require the tenant to take out certain insurance. These clauses sometimes specify particular cover, and sometimes require a copy of the policy to be given to management. Sharing the clause with us before or just after signing ensures the policy is prepared to meet it. Companies used to leasing offices in other countries should read this clause carefully, as local practice may differ. Otherwise disputes may arise with management or, after damage, with the insurer.

Employees and company cars

For companies in the district, business insurance alone is not enough. As headcount grows, group health insurance and employer’s liability come onto the agenda. If there are cars registered to the company, the expiry dates of traffic insurance, compulsory under Law No. 2918, the Highway Traffic Law, and of optional kasko (comprehensive motor insurance) policies should be tracked centrally. We can also review comprehensive car insurance options for company cars with you.

Information to prepare for a quote

For a quote on your office in Levent, 4. Levent or Maslak, it is enough to prepare the office addresses and floors, line of business, number of employees, a list of fixtures and electronic equipment, renovation investments and any insurance clause in the lease. Because our office is in Maslak, we can meet in person or run the whole process remotely, in English if you prefer.

What to watch when damage happens in a business centre

When damage happens in a business centre, the process involves building management, neighbouring offices and the insurer. For example, water from an office upstairs may damage equipment in yours. Acting quickly and in an orderly way matters:

• First ensure safety and take reasonable steps to stop the damage getting worse.
• Notify building management in writing and ask for a written report if available.
• Photograph the damage and list the damaged equipment and items.
• Do not throw away damaged items before the insurer’s inspection is complete.
• Notify the insurer within the period stated in the policy conditions.

Keeping your fixtures list and invoices up to date makes this process much easier. You can call us for help with notification and paperwork.

If an office move, a new location or a policy renewal is on your agenda, visit our office at the Maslak Atatürk Oto Sanayi Sitesi, or call +90 530 375 89 61 or message us on WhatsApp for quotes from several insurers. We support clients in English and, with experience since 1996, prepare your policy with you in plain language.