Everyone understands that insurance gives us some advantages and helps us avoid many risks. Property insurance has a special place among the types of insurance. We all value our natural property and do not want to lose it.
For entrepreneurs, the loss of property due to unforeseen circumstances can sometimes become a threat to the existence of the business. Here too there is a need for company property insurance. After all, having insured your property, you can reduce the company’s losses in an emergency. Insurance companies insure business property against all types of risks at once and against one or more risks chosen by you.
Many companies, wanting to save on insurance, insure only a fraction of their perceived risks. As a result, in the event of an insured event, they receive compensation for part of the damage received, which is sometimes not the largest and most significant for the company.
Therefore, the comprehensive insurance programs for legal entities offered by insurance companies should be chosen.
Objects of business property insurance
in case of insurance of legal persons are the patrimonial interests of the insured, which are associated with the risk of destruction (destruction), loss, damage to their property as a result of natural disasters, illegal actions of employees or third parties in the course of business activities of the insured.
In this case, the property rights that are associated with the possession, alienation and use of the property become the subject of an insurance contract.
By signing a business property insurance contract, you can insure:
- goods, raw materials, materials and other property,
- objects of unfinished construction,
- structures, buildings, structures and even individual premises,
- equipment, instruments, devices, inventory, mechanisms and machines,
- window glass and showcases,
- furniture and interior items
- org-, audio-, video- and electronic equipment,
Feature of business property insurance:
- gas explosion,
- falling manned objects and their debris,
- natural disasters,
- water damage,
- theft and other illicit actions of third parties.
In addition, in addition to property insurance, you can insure your company against production stoppages that occur as a result of the risks listed above. The volume of the insurance indemnity also includes the fixed costs of the company: taxes, salary fund, depreciation, utilities and loan payments. Also, you can guarantee a certain rate of return.
Therefore, we can say that commercial property insurance is perhaps the most effective method to protect the property of a legal person from social, natural and man-made risks.
Types of business insurance:
- General liability insurance.
- Commercial property insurance.
- Business income insurance.
- Workers’ compensation insurance.
- Professional liability insurance.
- Product liability insurance.
- Employment practices liability insurance.
- Errors and omissions insurance.
- Cyber liability insurance.
- Business identity insurance.
- Commercial auto insurance.
- Commercial fleet insurance.
- Commercial umbrella insurance.
- Key person insurance.
A house or apartment is a valuable real estate. Flooding, theft, fire and other disasters not only cause a lot of trouble, but can also significantly undermine the family budget. If you do not have an insurance policy, then if the property is damaged, you will have to make repairs in the apartment or house at your own expense.
Voluntary property insurance is an opportunity to protect property and save yourself from unforeseen financial costs.
Settlement of losses without certificates – payment under an annual policy within 25,000$. without providing documents from the competent authorities, if the fact, cause and circumstances of the insured event, set out in the Notice , unequivocally qualifies the incident as an insured event (with the exception of theft and civil liability).
Property insurance allows you to fully compensate for unforeseen damage, as well as protect yourself from related problems, such as loss of revenue due to downtime. It takes time (collection of documents and conclusions) and money (1-1.5% of the value of the property) to conclude an insurance contract, but if something goes wrong, both the time and the money invested in insurance will pay off in full.