Taking out insurance is a key step in your plan to open a business. Fire, window breakage, water damage, power surge… are risks to which your commercial premises are exposed. It is therefore important to protect your investment with insurance. In this article, you will learn all about insurance for commercial premises.
Insurance to protect your business
Opening a business is an important investment. You must purchase insurance to protect your commercial premises and your equipment. Two elements are taken into account when it comes to securing a trade. The first concerns immovable property (the building and the installations) while the second refers to the immovable property (the material, the furniture and the equipment). Before benefiting from insurance, it is essential to carry out an inventory of the goods related to your commercial activity. This makes it possible to determine the risks incurred for each of the goods. In addition, you will be able to define your coverage and guarantee needs. The insurance price is established according to the sector of activity, the size of the commercial premises, the level of exposure to risks or the number of employees. Subscribing to fire and explosion guarantees is necessary. These are risks that can occur at any time. You must also cover sign breakage, water damage and natural disasters.
Business interruption insurance
Insurance that allows you to benefit from an income in the event of a claim. It allows the merchant to receive compensation. This compensation helps the operator of a business to overcome the drop or absence of turnover. In addition, it gives the merchant the opportunity to pay any costs related to the rental of equipment or the establishment of a temporary installation to maintain its customers. It should be noted that insurers grant compensation if only the event that caused the operating loss was covered by a guarantee.
Note that your stocks may also be covered. They are not immune to possible disasters such as partial loss, theft, fire, etc. The best thing is to take the time to insure them by taking out adequate guarantees.
Analyze the different conditions of the insurance
Before signing the trade insurance contract, the various conditions must be examined. Be aware that the guarantees are different depending on the insurance company. Take the time to check the conditions in order to benefit from insurance that perfectly matches your needs. Moreover, we must not forget the exclusions. Professional liability insurance (CR) protects your business against damage caused by you to others. If you want to hedge your trade, you must take out a multi-risk contract. An insurance that allows you to guarantee the valuable goods contained in the premises. In the event of a claim, the insurer covers all the contents of your business. If a fire, a burglary, a broken sign… or any other incident occurs, you have nothing to fear. Your belongings are insured.
How much does trade insurance cost?
Trade insurance can correspond to the specificities of the premises and the field of activity. Insurers vary depending on the coverage chosen the insurance premium. The size of the room is taken into account in the calculation. The price of the insurance differs according to the number of m2. The bigger the room, the more you will pay for your insurance. The cost of the premium also changes taking into account the location of the property. A premises located in the city center costs more to insure than a property located on the outskirts. The nature of the professional activity is also taken into consideration. A restaurateur runs more risk from a ready-to-wear store, for example. For the insurer, some damage is more expensive to repair.
