Business property insurance is an integral part of doing business, whether in a modest office space or a huge factory. When a business’s assets are used as collateral for a loan, banks or other financial institutions have made property insurance a precondition.

Business property insurance can be used to protect the following: a building or parts of a building, production premises, facilities, warehouses, sheds and level crossings. If a company rents office space, for example, furnishings can be insured.

The insured value corresponds to the replacement value of the insured object, which in turn depends on the condition and technical characteristics of the object. The insurance cover can range from a minimum package (fire risk) to a comprehensive cover, including additional risks. In addition to immovable property, furniture, office equipment, fixtures and fittings, raw materials, goods, etc. may also be covered by the policy. In this case, the insured value is determined on the basis of a list of fixed assets of the business drawn up by accountants or on the basis of a list of insurable assets which becomes part of the policy.

You can also insure the goods in your warehouse with business property insurance. Both the owner of the goods and the owner of the warehouse can be insured. As the quantity of goods in the warehouse is constantly changing, the insurable value is determined on the basis of either the maximum or the average quantity of goods.