My business already has liability insurance. Do I also need multi-risk cover?
Yes. Liability insurance only covers damage your activity causes to others. If your premises suffer a fire, a theft or water damage, liability cover won't pay out. Allianz commercial multi-risk includes liability and protects your own property: building and contents.
I rent my premises and the landlord has insurance. Do I need my own?
Yes, it's strongly recommended. The landlord's policy only covers the building (walls, roof, structure). As a tenant you need to insure your contents (machinery, furniture, stock, computers) and, very importantly, your liability for damage your activity causes to the premises or neighbouring units.
What is underinsurance and how does it affect a claim?
Underinsurance happens when you insure your business for less than its real value to pay a lower premium. After a claim, the insurer applies the proportional rule: if you insured for half the value, you're paid half of the damage. We carry out a free risk review first to calculate your sums insured correctly.
What does business interruption cover?
If a serious incident such as a fire or flood forces you to stop trading temporarily, Allianz compensates you so you can keep paying fixed costs (salaries, rent, taxes) or covers your lost income while the business is closed.
Am I covered for flooding from a DANA?
Yes. Company insurance includes water damage and weather events: burst pipes, leaks and damage from torrential rain or flooding. For extraordinary events, the Consorcio de Compensación de Seguros pays through your policy, which is why you need the base policy in place.
Is breakdown of my production machinery covered?
The basic cover includes fire and theft damage. You can add machinery breakdown and electrical damage cover, which pays for repair or replacement if your machinery breaks down unexpectedly or a short circuit damages your IT equipment.
How much does company insurance cost?
There's no fixed price: it's tailored. It depends on your sector, the size of your premises, the value of your stock, your security measures and your location. We adjust the cover so you only pay for what your business actually needs.
Are accidents involving my employees covered?
You can include employer's liability, which covers compensation and legal defence if an employee has an accident at work and your company is held liable. For your staff's own benefits, see our employee insurance options.
What if stock or equipment is stolen from my warehouse?
Theft and robbery cover protects your furniture, equipment and stock against break-ins (forced doors or windows) and robbery of staff, and also covers the damage the thieves cause to the premises.
What happens if I have a claim?
You call or WhatsApp us, we open the claim straight away and a local loss adjuster visits your premises quickly. We follow it up with Allianz, in English, so your business can get back to normal as soon as possible.
