Property insurance and business interruption

Assets are exposed to various risks every day, such as fire, flood, hail, storm, earthquake or consequent business interruption and many other risks. When the property is damaged or destroyed as a result of realizing the insured risk, then the property insurance policy is activated, which covers the incurred material costs of restoring the property to its original state. It sounds simple in theory, but that’s where the simplicity stops. What can I provide? In what way? Of what risks? What insurance amounts? How will compensation in case of damage be calculated and will this compensation be adequate? These are all questions that need to be answered.

With an individual approach, which includes getting to know the client’s business, analyzing and assessing risk exposure and proposing insurance solutions according to real needs, S ADVISORY doo can offer an adequate solution for your insurance needs.

Property insurance ensures coverage of all property, whether it is owned by you, rented or leased, against various types of risks. The property can be insured against the risks listed individually in the insurance policy or through an “all risks” insurance policy (except those expressly excluded).

In case of damage or destruction of property, the business of the insured may be interrupted, which often represents much greater damage than the damage to the property itself. Business interruption caused by damage to insured property due to, for example, fire, flood or earthquake, can last from a few weeks to as long as a year. Business interruption insurance policy covers all fixed costs and lost profits during business interruption caused by the occurrence of one of the insured risks. Property insurance protects the property of the insured against unpredictable risks, while business interruption insurance ensures the financial stability of the company in the event of the occurrence of the insured risks.