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BUSINESS OWNERS PACKAGE

Probably the most comprehensive Business Insurance Package

Whatever the size of your business, you have invested your money, which is important to you and important for the flow of your business, and it would be correct businesswise, to be adequately insured.

In most cases, according to the different business stages,  we add insurance covers at different times and with different insurers, in not having uniformity of coverage and many times it is possible to even pay more premiums than we have to. Business situations are changing every day, the risks are increasing, and your business insurance should keep up with all this.

If you pay insurance, the last thing you want to worry about is whether your business is well-insured. So if you want to take care of the business insurance matter, meeting the challenges of time, and be able to dedicate yourself to your business, then you should integrate all the insurance needs of your business into a modern and upgraded insurance policy and protect your business by complying with laws and regulations. You can do that in ONE Policy only, with one single signature, and save up to 30% on  premiums!

I want all my business Insurance in one package

The Business Insurance Package is suitable generally for:

All types of businesses. Indicatively and restrictively, following are several examples:

  • Offices
  • Shops
  • Restaurants
  • Cafés 
  • Hotels
  • Hair-dressing salons
  • Beautician’s Parlours
  • Kiosks
  • Pharmacies

Who is the Business Insurance Package for?

The Business Insurance Package is addressed to the owners of businesses who are interested in consolidating all the necessary insurance covers to ensure the protection of their business, without searching here and there, for different policies. The aim being to have extended and upscaled covers, in order to:

  • Cover the assets of their company, as best as possible.
  • Protect their staff from working accidents.
  • Cover their business against lawsuits from their employees. 
  • Cover their business from embezzlement and dishonesty of their staff.
  • Cover their business against lawsuits by third parties.

 Advantages of the Business Insurance Package

  • One Policy.
  • 11 different Insurance types.
  • One premium, up to 30% lower rates.
  • One renewal date.
  • One insurance proposal.
  • One signature.
  • One insurance agent.
  • Extended and upgraded cover.

 What types of coverages does the Business Insurance Package have?

Cover No.1 – Property “Against All Risk”: This Insurance covers your business against loss or damage to buildings, contents, equipment, and stock merchandise, as well as the interior decorating and renovations which may have been carried out, permanent attachments of the business, including light and other signs. Some of the covers which this Policy offers are the following:

  • Fire, lightning, subterranean fire.
  • Explosion.
  • Aircrafts or other flying devices, and objects falling from them.
  • Breakage of pipes, leakage or flooding of any water tank or water dispenser. 
  • Collision.
  • Earthquake or volcanic eruption.
  • Storm, thunderstorm.
  • Flood.
  • Public riot and workers’ strike.
  • Malicious destruction.
  • Theft.

The coverage is extended to include:

  • Expenses for architects and mechanics.
  • Accidental damage to wiring and underground services.
  • Payable/ receivable rent.                                                              
  • Detection and repair of leakage.                                                                      
  • Replacing locks.
  • Loss of water meter.           

Insurance No.2 – Consequential Damage from Business Interruption: Compensation for interruption of your business after insured loss.

The coverage is extended to include:

1. Accountants fees for the preparation of statements and receipts
2. Interruption or obstruction of access to the business

Insurance No.3 –  Employers Liability: The Employer’s Liability Insurance covers the legal liability of the Insured (party or company) for bodily injuries, death or illnesses of its employees as a result of accident during their employment, in their place of employment or in any other place where they carry out their work under the instructions of their employer.

This insurance is mandatory, according to Law 1989(174/1989) on the Mandatory Employers Liability for all companies and whomever employs staff.

The minimum liability limits are as defined by the Law:

  • For each employee €160,000
  • For each incident €3,415,000
  • For each period of insurance €5,125,000

The liability limits in the Employers Liability Insurance can be increased according to the needs of the employer. 

Insurance No.4 – Third Party Liability: The legislation on Third Party Liability, in a nutshell says that “the responsible party pays”. This insurance covers your legal liability against bodily injury and damage to third party property.

  • Coverage for each incident
  • Total coverage during the period of Insurance

Insurance No. 5 – Product Liability: This insurance covers the legal liability of the business, concerning damage and bodily injuries against third parties arising from any product which is sold, provided, modified or processed, related to the business activities of the company.

Insurance No.6 – Employee Dishonesty: This Insurance covers financial loss of the insured through fraud or dishonesty of their employee. Total coverage during the Insurance period.                                                                         

Insurance No. 7 – Money: This Insurance covers loss or damage to money which is property of the business.

A. In premises when they are shut for business.

  • Outside a locked vault/safe.
  • Inside a locked vault/safe.
  • In the residence of the insured or the persons assigned to safeguard                                              

Β. In premises when they are open for business

  • At the premises
  • In transit/During transportation                                                 

The cover is extended to include:

Coverage for bodily injury of the insured or employee due to an attack in order to steal money:

  • Death
  • Loss of limbs or sight 
  • Permanent Total Disability

Insurance No.8 – Insurance of goods in transit: Covers company goods in transit against loss, damage or theft, during their transportation by company vehicle due to crash, overturning or theft.  

Total Coverage during the period of Insurance

Insurance No. 9- Spoilt chilled goods in refrigerated trucks or refrigerators; Covers frozen or chilled goods in refrigerated trucks or refrigerators if they are spoilt or damaged because of:

  • Refrigerator damage
  • Random failure of electricity supply
  • Leakage of refrigerants from the refrigerator

Insurance No.10 – Windowpanes: Covers random breakage of windowpanes, glass doors and windows belonging to the company

Total Cover during the period of Insurance

Insurance No.11 – Accidental death of employee: Coverage is provided, if during the carrying out of their duties, accident occurs due to accident to the insured’s employees.

Plus, Free Technical Assistance Service!

The Emergency Technical Services provide the immediate assistance of specialised technical staff

24/7, 365 days all year round, for up to five (5) times for all the following covers per annual insurance period, for emergency repairs in the insured premises. This specific service covers labour, transportation of technician and necessary material costs. The insured is not charged over and above, as listed further down:

  • Plumbing installations.
  • Electrical installations.
  • Locks.
  • Windowpanes – crystals.
  • Temporary fax machine, portable computer, cell phone.
  • Safeguarding services in the event of fire, explosion, flood or theft.
  • Clearing up of the damaged space.
  • Equipment transportation.
  • Safeguarding of equipment.
  • Accommodation of the insured at hotel.
  • Dispatching of ambulance.
  • Urgent return of the insured to their premises.
  • Conveyance of urgent messages.

The Technical Assistance Company, with which we outsource this service  for the Emergency Services, guarantees the coordination of the technicians in order to continuously and smoothly perform the above works, the quality of the performed works and provides a six-month guarantee for the correct execution of their work.

What is Business One?

Business One is the brand name of a Business Package used by Insurancelink for marketing purposes. Each Insurance Company has its own brand name in their Business Insurance package.

Who issues and signs the Business Insurance Package?

The Business Insurance Package is issued by various insurance companies depending on the type of business and the insurance needs. After our first meeting and analysis of your needs, we will give you a written offer that will include the coverage in detail and the sample of the insurance company that will offer the coverage package. The business insurance package is offered all over Cyprus by Insurancelink.

Are there terms and conditions on the Business Package?
Yes, the terms and conditions apply to you in writing.

How do I get the Business Insurance package?

Just call us at 700 8888 3 and we will contact you, or email us at info@Insurancelink cyprus.com

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.

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