I rent my premises. Should I insure the building or just the contents?
If you rent, the owner insures the building. You insure your furniture, stock and equipment (contents), and it's essential to add first-loss cover for the fit-out and decoration you've paid for, as well as your liability to the landlord.
Is my shop window covered if it's smashed by vandals?
Yes. Glass, shop window and sign cover replaces your shop window, interior mirrors or illuminated signs quickly after accidental breakage or vandalism, which is essential for any street-level business.
If stock is stolen, am I paid what I paid for it or the retail price?
Stolen stock is paid at its replacement cost, not the retail price, because expected profit isn't insured under this cover. Declare your stock value correctly to avoid underinsurance after a serious claim.
I run a bar with cold rooms. What if there's a power cut?
If a prolonged power cut or a cold-room breakdown breaks the cold chain, refrigerated goods cover pays for the food or medicines that have spoiled.
Is insurance compulsory to open a shop or business in Spain?
Nationally it isn't always compulsory, except in certain sectors, but in practice it's essential: your town hall or your landlord will usually ask for at least business and premises liability insurance before you open.
What if a customer slips and is injured in my shop?
That's what business liability is for. The policy covers your legal defence and pays compensation for injury or damage suffered by customers in your premises due to a wet floor, an oversight or the condition of the installations.
If a pipe bursts and the water damages my stock, am I covered?
Yes. Water damage cover pays to locate and repair the leak and, most importantly, compensates damage to your stock, computers and furniture.
Will the policy pay if a fire forces me to close for a month?
Yes, if you include loss of income or business interruption cover: Allianz pays an agreed daily amount so you can meet your fixed costs (rent, salaries, taxes) while the premises are being repaired.
Are my computers and card terminals covered?
They're covered as contents against theft and fire. For internal electrical faults, such as a power surge that damages your computer or till, we recommend adding electrical damage and electronic equipment cover.
What affects the price of my business insurance?
The price is personalised: it depends on your activity (a clothes shop isn't the same as a restaurant with a kitchen), the size of your premises, the value of your stock and furniture, and your security measures, such as a monitored alarm, shutters, security glass and extinguishers.
