The risks faced by commercial premises are manifold. From theft, vandalism, fire, flooding... You never know!
One example is the recent opening of Muebles Sola, a family business in Tafalla (Navarra) that has been closed for almost two years due to the overflowing of the Cidacos River. In July 2019, torrential rains increased the height of the river almost fourfold, with the river rising from 0.11 meters to over 4 meters high.
The consequences were devastating for almost the entire population, but this five-storey building (three subway, one at street level and a second floor) was undoubtedly the worst. The water reached a height of 8.5 meters and affected four of the five floors. All the furniture was rendered unusable, either because of the smell of damp or because it rotted.
But despite the disaster, the owners had insurance that covered everything, and even charged a percentage for staying closed all these months.
The importance of having good insurance
The example of Muebles Sola is one of many that we could explain, but without a doubt, the best lesson is that good insurance gives a great deal of breathing room.
When you own a business, the last thing you want is to close your doors and have financial losses due to other risks. For this reason, business premises insurance is a very good option for business owners. This type of insurance is intended to offer some peace of mind to these business owners, in case at some point there is damage beyond their control.
That is to say, if there are acts of vandalism and the windows, doors, shop windows are broken, the cash box or the material is stolen, the insurance will respond. Also, if there is a short circuit and there is a fire or, as in this case, if due to heavy torrential rains the premises are flooded. In all these cases, and more, the insurance guarantees protection for the businessman and his product, repairing the damages and compensating the economic losses involved.
Insurance for commercial commercial
Depending on the activity of each business, priority will be given to some things or others when insuring the assets. It is up to the person in charge, advised by his insurance broker, to determine what he wants to protect, since they know well what risks they are exposed to.
The most common insured damages are:
- Theft damage
- Electrical damage
- Water damage
- Damage due to natural catastrophes
This insurance is not mandatory. The only insurance that is mandatory is liability insurance for damage caused to third parties. After all, in addition to offering a good service to the customer, the customer must be protected during the purchase.
Likewise, there are insurances that protect premises that are out of business. Because it would not be the first time that a non-business premises is assaulted and the properties are subject to vandalism, theft or water damage.
News Source: Tiempo Seguro 15-3-2021