Operating contents insurance
Why is a business content insurance useful?
The company content insurance is the essential form of insurance to the company property,
more precisely the technical and commercial furnishings, against damage
and to hedge losses. In addition to public liability insurance – the damage
Compensates for third parties, the
Responsible for the company – the company content insurance ensures the compensation
damage to in-house property and assets.
The business content insurance covers all major types of damage. Elemental damage, damage after criminal acts up to conditional financial losses after complete or partial factory closures can be covered by it. The insured company is one of the pillars of risk management with its inventory insurance. Belonging in the total extent in the rule
- Public liability insurance
- certain customized default or product liability policies
- special business insurance
- If necessary, other types of insurance, such as environmental liability insurance, etc., depending on the type of operation.
In the business content insurance / inventory insurance, not only furnishings are included in the loss risk. In addition, commission goods, and goods that are already destined for delivery (sale to the customer has been made) and no longer part of the business property belong to the items covered by the insurance benefits. Also, leased objects or rental objects in the business premises, etc., must be fully replaced in the event of damage. By its nature, the business content insurance can be optimized for all claims that jeopardize core business assets.
The cause of the loss does not have to lie in the insured company itself. Outbuildings or living areas adjoining the insured business area may be the location of the cause of the loss. For example, a fire in the apartment above the store, whose firefighting operation leads to damage to equipment and inventory. Possibly. are stored customer matters affected (possibly accepted for repair stuff), which must also be replaced. Often there is no opposing insurance for these side damages, so the damage lies with the company itself, and this in full. The company content insurance enters here and replaces own damage up to the cover sum as well as damage to strange things, which were taken over according to the operational regulation.
Basically, the company content insurance covers a gap in coverage, which lies between public liability and product liability insurance (depending on the type of insured company). In this context, the company content insurance is often affected by household contents insurance in the private property insurance sector. However, their benefits are much lower and can be adjusted to the entrepreneurial environment of the insured company in a much more differentiated manner.
What dangers, costs and damages are insured in a company content insurance?
As a commercial property insurance, the inventory insurance covers risks that threaten the equipment, the enclosed items and essential items from various sources. Damage and total losses are recorded. Up to the amount of coverage, the business content insurance provides financial compensation after claims. It contributes significantly to the stabilization of business operations, which can be particularly affected by unforeseen claims.
The company content insurance occurs at:
- fundamental elemental damage. These include floods, damage from snow pressure, floods or landslides.
- Damage caused by bad weather. This will be u.a. Hail, snow and rain counted. Here not only direct damages are replaced, but moreover consequential damages, e.g. if bad weather originally damaged the building, but damage to the inventory also occurred as a result.
- Damage caused by fire. The triggering cause plays only a minor role. There are u.a. Short circuits, lightning strikes or crashes of missiles or missile parts detected.
- Damage caused by tap water. In addition, as damage caused by the weather and natural hazards, damage to the equipment caused by breaks in the water pipe, valve defects or other water leakage is insured.
- Losses and damage after theft from the premises, burglary and robbery. This credit includes all divestments of insured property, damage resulting from the theft and intentional unlawful appropriation.
In addition, follow-up costs are recognized that can not be counted against the actual loss volume after insured losses.
Especially important are:
- the takeover of disposal and clearance costs. Especially after damage to machines, which can cause a leakage of operating materials, such as oil, other lubricants and other dangerous substances, the company concerned is liable for the clearing of the point of damage. This often results in high costs, especially if soil has to be removed and decontaminated or new landings are necessary.
Note: The existence of an environmental liability insurance can here include double insurance. A corresponding test is recommended. The assumption of recovery costs of lost records. In addition to replacing damaged furnishings and property, the Business Content Insurance may cover the recovery of records and records. This insurance component goes beyond the insurance of things insofar as the value of recovering data in detail can often be difficult to declare. There is a significant cost risk in the event of a claim, which can be covered by the occupational pension insurance.
- Replacement of valuables and cash holdings. The business content insurance may also include the loss of valuables and cash. Depending on the type of operation, the insurance value for the risk management of the company can be substantially increased. However, the retention requirement for such items remains with the company itself.
What should be considered when taking out an inventory insurance??
The inventory insurance can be adjusted very precisely to the needs of the insured company. The size of the company is not essential. The scope of insurance is calculated in addition to the insured losses from the specified coverage amount. It is based on the insured property and risks.
Business content insurance for companies
Companies can achieve optimum protection of the economic substance by deliberately including their business content. The business content insurance covers equipment and machinery, tools and work items, as well as inventory and workplace access. The sum insured for this part will be calculated according to the actual values. Attention should also be paid to the valuation of leased or rented furnishing and production items that must be fully replaced in the event of damage.
Select business content insurance by type of economic sector
Depending on the type of operation, various benefits and security safeguards are required for the preparation of the company content insurance. Thus, office operations (e.g., law firms, etc.), medical practices, or service operations may have very different needs. If there is a lot of customer traffic and cash transactions are carried out, these risk factors should be taken into account accordingly. The company content insurance should offer the best possible coverage in the event of damage. This also includes indirect securities, as they occur in case of consequential or theft offenses.
Special Inclusions and Extensions of Inventory Insurance
If the establishment of a company consists of specialized equipment and machinery, additional safeguards should be considered. For example, IT companies recommend special electronics insurance, which should either be included in the business benefits insurance or should be purchased separately. There may be coverage gaps, e.g. in eventuality of media recovery or recapture of large data sets.
Have risk factors evaluated
The business of a company may include specific risk factors. For example, companies dealing with chemical substances are subject to further risks. Comprehensive advice on the optimal protection and supplements, extensions and inclusions of the company content insurance is recommended if the company is exposed to extended risk conditions.
What costs are covered by an inventory insurance in the event of a claim??
The business content insurance as a commercial property insurance bears the costs for damages, repairs, partial replacement and loss of insured property.
- Compensation for damaged furnishings
If it comes to damage to equipment and inventory, enters the business content insurance. It replaces the replacement value of the insured objects. Deductibles may be agreed, which may be used in total or on a pro rata basis. For this purpose, the corresponding provisions are specified in the insurance contract.
Furnishings include essential equipment, inventory items (also in leasing and rent) and possibly tools.
- Compensation for commissions or stock items and inventories
If in the business of its business activities are stored according to its intended purpose (for example for the sale of the commission), which are only indirectly part of the business assets or are formally considered as storage objects intended for delivery, damages must be reimbursed to the owner. The company content insurance comes up for the replacement of these things and compensates the injured party. Here, therefore, the beneficiary may be different from the policyholder. This includes e.g. In car dealerships damage to the vehicles taken over for repair.
For inventories that a company must invest in order to fulfill its business purpose, compensation also applies in the event of a claim. The value of the new procurement up to the coverage amount applies.
- Repair costs replacement
If insured objects are only damaged and the repair is the most favorable way of restoring the economic viability of the enterprise, the company contents insurance also comes up for costs of the repair. Maximum limit here is the achievement of the coverage under consideration of any deductibles.
- Clearance and utilities
Incidental damage, e.g. Spill after soil pollution can be covered by the business content insurance as well as costs for recovering lost files and records. The exact regulations should be defined accordingly in the insurance contract in order to ensure clarity about the extended compensation payments in the event of a claim. In addition, these risk factors must be taken into account in the coverage of the business content insurance, as they usually have no clearly definable insurance value to assign in advance.
Which costs are not covered by the business content insurance in case of damage?
A number of exclusions result from the concept of company content insurance. The most important exclusions at a glance.
Wear and tear
Damage to the insured equipment caused by wear or tear is not covered. The definition covers the entirety of the respective system, its intended wear parts as well as the remaining operating form. The replacement is the responsibility of the policyholder himself and is usually compensated by maintenance contracts and reserves. When replacing the equipment after a defined claim is fully recorded.
The replacement of equipment required for the operation of technical equipment, often lubricants, printer toner, colorants, processing contents, etc., is not covered by the business content insurance. In the case of a regular claim, however, the compensation covers the full extent until the operational readiness is restored.
If it comes to legal disputes in the context of a claim in which the company content insurance has taken effect, these costs are not included in the scope of insurance. This is generally covered by industrial legal expenses insurance or suitably designed liability insurance. The public liability insurance can also include included legal costs, e.g. to ward off unauthorized claims. In the business content insurance, however, these are regularly not recorded.
Any form of liability claims against third parties are not covered by the business content insurance (conditional exceptions are defined consequential and incidental costs of claims). Regular liability insurance is available here.
Compensation after intention of the policyholder
Damage to the insured facility that was intentionally caused by the policyholder or a legal representative will not be reimbursed by the business content insurance.
Note: Certain machines and systems may need to be insured separately. Depending on the business area, specialized operating facilities and facilities must be provided with an extension of the company content insurance in order to cover them. The electronics insurance covers, for example, the field of electrical equipment and operating equipment. These inclusions must be checked before concluding the business content insurance in order to avoid coverage gaps.
How do I behave in the business content insurance in the event of a claim?
The company content insurance takes care of the regulation of costs incurred after a claim. However, some key points must be considered by the policyholder immediately after the damage has occurred.
The damage report must be made immediately and as completely as possible directly to the insurance company after the damage has occurred.
Of these are undeclared late registrations of
Secondary and consequential damages that were not immediately apparent when the claim occurred.
The affected areas and the scope of the insured property should be reported.
Nature and extent of the damage
Important for the notification of the company content insurance is the exact description of the nature and extent of the damage for the assessment of further risks and possible consequential damages. It is important to record the damage area concerned and to list deficiencies, direct and indirect damages, in order to achieve the most exact possible compensation for damages. This requires not only the description of the affected infrastructure, but also the notification of affected equipment, possible damage to the building (even if not directly covered by the business content insurance), damage to technical equipment and the classification as direct or consequential damage.
A loss in the business content insurance can also occur indirectly, without the cause having to be in the insured area. Thus, e.g. Extinguishing water damage caused by fire extinguishing work in directly adjacent properties is covered by the company content insurance. Also for this an accurate damage notification must be created. The insurer assists in the creation.
Official information obligation for environmental damage
For certain claims it is mandatory to inform authorities. This is particularly the case with disasters of large plants, however also with all other damages, by which third parties can endanger or damage to environment and environment can arise. By the announcement and transmission of appropriate protocols, the assessment of incidental and consequential costs becomes possible.
Immediately in connection with the determination of a damage occurs generally regulated an obligation to reduce the damage. If necessary, systems that are partly damaged must be turned off to prevent consequential damage. The measures for damage reduction should be logged. They must, however, be reasonable. Hazards can not be mitigated by mitigation measures (for example, a burning area does not need to be entered by someone to retrieve items or shut down machines if it exposes them to danger to life and health)..
When does the insurance cover begin??
The regulations for the beginning of the contract are defined by two sides. On the one hand, the insurance cover begins at the time specified in the contract. However, usually not before receipt of the first installment to the insurance contribution to the insurer. The company content insurance does not charge any waiting or waiting periods until the insurance cover becomes effective.
Determining the start of insurance in risk management
The business content insurance can be seamlessly integrated into the overall risk management of the company. It will not be subject to additional waiting periods delaying the entry of insurance beyond the legal requirements for concluding a valid contract. This makes the company content insurance as an insurance component in the entire risk management of the company usable at any point where an extension or supplement of the insurance appears reasonable and appropriate.
Also change and new conclusion of the business content insurance can be made against this background without extensive replacement planning. However, attention should be paid to possible special and additional items that may protect important business areas and apply to separate provisions (See Machine and electronic insurance and certain transport insurance).
Which coverage amount or sum insured makes sense?
The business content insurance covers a well-defined claims area for the institution and inventory of the insured company. For the most part, the sum insured comprises the real assets that are to be insured in the occupational pension insurance. As a rule, new values are used, which determine the coverage. However, various assets and indirect assets are also insured. The coverage amount can thus be aligned as closely as possible with the real conditions of the company.
Real assets in the business content insurance
In the business content insurance, the commercial and technical operating facilities of a company are insured. These include office equipment and accessories as well as technical equipment, entrance doors and security systems. Depending on the specialization, e.g. In electronics insurance extends all electronic equipment and data processing equipment, if they go beyond office equipment to be recorded. These values are precisely determinable and in their entirety as Newert form the basis for the formation of the sum insured. On this basis, appropriate compensation can be made.
Assets in the business content insurance
In addition to the facility, assets must be insured for specific business areas. For example, cash and cash balances in the company or document values whose volume varies can be insured. For this purpose, both statistical values and values based on concrete experiences in the company are used to form the part of the sum insured for assets. In the event of losses after theft, burglary and robbery, these values are insured accordingly. It should be noted, however, that depending on the operating condition, special deals must apply to higher assets. This is e.g. the case when companies deal substantially with the assets and property of third parties.
Further property values in the insurance protection
However, the insured assets of the company also include furnishings that are rented or transferred to the use of the company through leases. In the basic replacement of the company, they are not recorded against this background. In the case of damage, however, they must be replaced up to the amount of the replacement value. These values must also be recorded in the formation of the sum insured.
What depends on the contribution and what factors influence the contribution rate?
The contribution in the company content insurance
essentially determines the sum insured.
It is based on the insured actual values in the company.
To optimize the rate, it is recommended,
The sum insured may regularly adjust to changed circumstances accordingly.
Both under-insurance and over-insurance represent financial disadvantages that should be avoided by regular reviews. A regular comparison in the insurance market can be an instrument for this.
Through various factors, the company can influence the rate of company content insurance.
- extended contract periods
- targeted exclusions.
The determination of deductibles can reduce the insurance contribution. Here economically meaningful own shares in the compensation are defined, which seize per damage case. At the same time, the deductible also regulates the de facto entry of the business content insurance in the event of a claim, which he describes as a “minimum loss” for which the insurer is to pay for the first time.
Longer agreed contract periods (usually over one year) are served by various insurers with discounted services. Cancellations of longer contract periods can be terminated for contracts of less than 3 years at the agreed end of the term, for contracts with a term of more than 3 years for the first time at the end of the third insurance year taking into account the notice period.
Certain insurance benefits require an increased rate. Depending on the situation, alternative forms of insurance can be selected for individual contents that make benefits from the business content insurance excludable. Here, the examination of possible double insurance is recommended.
Conversely, it may u.U. make sense to combine benefits of another insurance in the company content insurance and correspond to reduce the rate for the other insurance or save.
reestablishment of Use
Irrespective of regular “set screws”, insurers offer discounts for certain groups of insured persons, e.g. at start-up of companies. A comparison shows necessary conditions and conditions.
What advantages does the comparison of the business content insurance?
The comparison of company content insurance is the basic requirement to find the optimal rate individually. It serves to determine the insurance contents and the required cover.
In addition, one of the key benefits of the insurance comparison is the extensive data base of a large number of different offers in the business content insurance sector. Because not only must the benefits of the insurance apply to the insured business and economic sector. In addition, performance inclusions, risk areas and, if applicable, exclusions and special benefits must be identified, which can only be determined by an informed comparison. The optimal compilation of the business content insurance makes a comparison possible.
In addition, free telephone support offers the decisive advantage of being able to immediately clarify questions and ambiguities regarding insurance conditions and the effectiveness of the business content insurance for risk management.
In addition, after comparing online a variety of offers and determining the best form of insurance, the selected business content insurance is directly lockable either online or by phone. This reduces waiting and research times and secures the indemnification of the company optimally. Additional costs do not arise for this.
Can the contributions to the company content insurance be deducted from the tax?
The contributions to the occupational pension insurance are tax deductible. They essentially serve the dangers. and defend against the company and its economic security. The conclusion of the business content insurance can generally be considered as a safety measure. Expenditure on the occupational pension insurance can thus be claimed as operating expenses and taxed accordingly.
This applies both to the terms and conditions of the general occupational benefits insurance and, in principle, to additional agreements and supplementary insurances aimed at safeguarding the essential operating content intended to ensure the economic efficiency of the company.
What should be considered in case of termination??
The termination of the company content insurance must be timely. It can take place at the end of the insurance term; for multi-year contracts, at the earliest, taking account of the notice period at the end of the third insurance year. The termination should take account of the consequences of changes and consequences as well as the impact on the risk management of the company as a whole.
What to consider when changing?
The change of company content insurance should be made after a well-founded comparison in order to achieve better rates and contents for the business content insurance. Furthermore, it should be noted:
- Which additional agreements must be accepted?
- Are all business contents adequately recorded in the new insurance??
- Can insurance contents from other insurances be transferred to the company content insurance?
- Which inclusions can be taken over by other insurance companies to optimize the rate?
- There are specializations of the company, which make parts of his institution separately secure?
The change must be accompanied by a timely termination of the existing and seamless entry into the new company content insurance in order to avoid coverage gaps.
shop insurance Why is a shop insurance makes sense? The protection of the company owned property , of things that are rented for operation or other…
Optimal insurance protection For all cases in life On this page, we have summarized all the property insurance policies of Deutsche Familienversicherung…
Construction services insurance: insure construction site completely before commencement of construction Things can go awry on a construction site: storm…
Glass insurance and glass break insurance Why is glass insurance useful?? The glass insurance, also called glass breakage insurance, is a special…