The business insurance can not protect you from damage, but protect you from its financial consequences. There are different business insurances in the market. In the best case, these contract models take into account the industry-specific risks and threats.
- Estate Agents – Loss of customer key or liability to property owners for home damage are not insignificant risks to this profession
- Doctors’ offices – here we have to point out liability claims against patients
- Manufacturing – in the manufacture of goods or materials, the lagging is of particular interest.
Every company should therefore have their insurance cover put together individually. The premiums vary depending on the type, industry and location of the business.
Classic business insurance includes the following risks:
- Fire, Explosion, Lightning
- Tap water, burst pipe, backwater
- surge damage
- Burglary, theft, robbery, vandalism
- Glass Break
- Natural hazards like storm, hail, landslide, subsidence
- Burglary, robbery and vandalism
- Liability claims of various kinds
Who pays compensation for lost revenue in case of damage?
After a great deal of damage, the operation is often completely or partially silent for a while. However, the fixed costs continue. And the loss of revenue is often greater than the actual property damage.
In this case, the Business Interruption Insurance will take over, taking over ongoing fixed costs, other accommodation expenses and emergency systems. Also, the logistical support of the insurer helps to quickly set up an emergency operation and to avoid the migration of customers.
What else is to be considered?
Hedging in the form of public liability insurance covers risks in principle if personal, material or pecuniary losses occur to third parties through the exercise of their own activities.
In addition, the Spanish law prescribes an accident / life insurance for the employees for certain sectors such as construction, crafts, hotels, trade, etc. If the employer violates this obligation, he must expect the imposition of sensitive sanctions.
Interesting are already in smaller companies, so-called group insurance for the management and their employees to special rates for health, accident, pension insurance, etc. to receive.
The advice of a specialist is definitely recommended because of the variety of professional risks and specific company insurance.
The Iberia Insurance team will be pleased to advise you personally and competently.