A fire can occur spontaneously, but may also be caused by negligence, human errors, technical defects and malfunctions. Fire insurance protects your company not only against the risk of fire but also compensates the material damage resulting from an explosion lightning. This insurance can be extended to include other risks such as storm, hail and water damage.
You can switch from a traditional fire insurance policy to an all-risk insurance package. An All-Risk policy will protect your company against any sudden or unpredictable damage or loss. Everything is insured, except those things that are explicitly excluded, such as war or nuclear disasters.
A major advantage of this insurance package is the reversal of the burden of proof. A traditional fire insurance policy requires that you prove the claim is insured, whereas with an ‘all-risk’ policy the burden of proof lies with the insurer.
A fire in your warehouse can lead to your production processes slowing down or even temporarily coming to a halt. The resulting decrease in turnover entails additional operating costs and affects your profit margin, putting your company’s health at risk.
The Loss of Profits insurance insures the losses of your operating results for a predetermined period.
The greatest cause of malfunctioning machinery is human error: up to 40% with combustion engines and up to 80% with printing presses. This damage is of course not covered by the warranty of the manufacturer. Your machinery, therefore, needs to be covered by Machinery-Breakdown Insurance.
And you can also insure your cranes and forklifts in this way. In such cases, the policy can provide protection against fire, explosions, landslides, theft and accidents on public roads.
Your company runs on electronic devices: it is often difficult to tell how many telephones, computers and printers the company has. You certainly cannot afford to have this equipment fail. With All-Risk Electronics Insurance (ARE), you will be insured against all damages, except those that are explicitly excluded.
Do you own a café or a restaurant? Do you run a sports complex or an amusement park? Or are you responsible for a nursing home or a school? If so, you are required by law to take out strict liability insurance in cases of fire or explosion.
As the owner of a ‘publicly accessible facility’, you are strictly liable for injuries suffered by visitors, representatives and other third parties as a result of a fire or explosion.