COMMERCIAL PROPERTY INSURANCE

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COMMERCIAL PROPERTY  INSURANCE

Most Business own or rent commercial premises to carry out their work. These premises usually include machinery, equipment, offices, computers, stocks, and other movable property of the Business. This property is the driving force behind the business and needs the right insurance.

Our know-how combined with many years of knowledge of market needs are the competitive advantage we have in commercial risk insurance, enable us to advise you correctly for the appropriate Commercial Risk Insurance for your business.

The coverages provided are tailored to the specific needs of the insured and the type of business, offering an insurance policy that can cover the risk from simple fire to any risk.

  • Profits: Profits that would have been earned (based on prior months’ financial statements)
  • Fixed Costs: Operating expenses and other costs still being incurred by the property (based on historical costs)
  • Temporary Location: Some policies cover the extra expenses for moving to, and operating from, a temporary location
  • Extra Expenses: Reimbursement for reasonable expenses (beyond the fixed costs) that allow the business to continue operation while the property is being repaired.

This coverage extends until the end of the business interruption period, which is determined by the insurance company. Most insurance policies define this period as starting on the date of the covered peril and the damaged property is physically repaired and returned to operations under the same condition that existed prior to the disaster. Business Interruption Insurance is only available as a supplement to Business Property Insurance.

Common Commercial Risk Covers:

Usually Commercial Property Insurance covers the property against fire, lightning, smoke, earthquake, flood, storm, tempest, vehicle collision, plane crash, malicious damage, explosion, theft, glass breakage, etc.

Applies to:

Owners of movable or immovable property, such as shopkeepers, industrialists, hoteliers, apartment building management committees and other commercial activities.

Why to Insure My Business Commercial Property?

The insurance of a company’s movable and immovable property ensures that in the event of damage there will be the money needed to repair the damage.

 

 

Clarification
The information above may vary from Insurance Company to Insurance Company. Depending on the Insurance plan we will propose, we will give you all the relevant information required by the legislation so you can make your decision. Ask us today for an offer and, we will choose the most suitable package for your needs and budget.