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Water damage

Coverage may be conditional on the age of the property and on the pipes and installation having been laid more than 15 or 25 years previously.

Liability

  • General. It is the one derived from the activity carried out within the business premises. It is important to check whether the multi-risk insurance takes into account other risks that are complementary to the business activity, such as professional activities outside the premises and, for example, damage to clothes in dry-cleaning shops. If not covered, check to complement by independent insurance.
  • Employers. This is the personal damage suffered by the workers in charge of the owner of the business premises where the activity is carried out, and derived from some circumstance in which the employer may be responsible. If there are no employees, it is important to include this coverage (normally optional) because if it is not possible to hire a worker over time and if the coverage does not exist and an accident occurs that is responsible, compensation would not be due. The cost is usually reduced.
  • Products. This is the damage caused to third parties by the consumption or use of products that are sold or served on the premises. Sometimes this optional coverage is used more in: Bars, restaurants, food stores such as supermarkets or grocery stores, frozen food stores, etc. due to the possible intoxication of the products manufactured or marketed, but it can also be applied to other products that are marketed and derived from their storage the product could be in a bad state of conservation and when used it could generate some damage for which it could be responsible.

Stopping of activity

Coverage – It is guaranteed that in the event that a contingency covered by the insurance occurs (fire, explosion, etc.) and that a stoppage of activity in the business is caused, the insurance will compensate with an economic amount to offset the loss of profits that such stoppage will cause.

If the stoppage is total, 100% will be paid, and if it is partial, the same percentage will be paid as for the part of the premises affected.

Forms of compensation

  • Sometimes it is a percentage (20-25%) that is paid extra and applied on the compensation value.
  • On other occasions it is a fixed daily amount (100, 150 or 200 euros per day) up to a maximum of 3 or 6 months.

A temporary exemption of 3 to 7 days is generally applied, after which the period of inactivity for the payment of the benefit is calculated.

Protection measures

In commercial premises, protection measures against robbery are mainly taken into account: all openings must have metal locks, or else double-layer (12 m.m.) or triple-layer (18 m.m.) armoured glass. To know if it has an alarm with or without connection to a security or police station.

Against fire unless you have fire extinguishers with maintenance and equipped fire hydrants (BIE’s). Of a floor where offices or medical consultations are located: In front of the robbery that exists armored door or armored according to the type of risk and possibility of alarm with connection.

Protection measures

In commercial premises, protection measures against robbery are mainly taken into account: all openings must have metal locks, or else double-layer (12 m.m.) or triple-layer (18 m.m.) armoured glass. To know if it has an alarm with or without connection to a security or police station.

Against fire unless you have fire extinguishers with maintenance and equipped fire hydrants. Of a floor where offices or medical consultations are located: In front of the robbery that exists armored door or armored according to the type of risk and possibility of alarm with connection.

Cash

A limit is established at first risk of a greater or lesser amount, depending on whether the money is in a closed cabinet, a cash register or a built-in safe.

Merchandise in display windows

Robbery in shop windows is included, as long as it protects the shop window display with the metal or armoured glass lock. If only the inside of the premises were protected, the merchandise in the window would not be covered.

Robbery of employees and customers

If, as a result of theft on the premises, employees and customers are robbed, the insurance can cover a first-risk sum of 1,500 euros, with a maximum of 300 euros per person affected. This may or may not be included depending on the insurer, as the limit may vary.

Transport of funds

If during the transport of funds from the insured premises to the financial institution during the day’s collection, a robbery of the business’s personnel occurs on the way, a percentage of the insured capital content will be covered (between 3% and 5%) with a maximum limit that can be around 2,500 euros or 3,000 euros.

Theft of content

In general, the contents can be insured for theft provided that, depending on the type of risk, there are minimum protection measures in place. It is very important that these measures are properly reported, because if there is any inaccuracy the claim may not be accepted or the rule of fairness applied.

When there is alarm protection with a connection to the police, the insurance is cheaper in the theft coverage in greater or lesser proportion depending on the type of risk involved (important to note).