Trade insurance provides a solution to large claims or small incidents that can mean a great cost to the owners or tenants of a business. After all, it’s about offering peace of mind and security in the face of any unforeseen events that may occur in the store. Risks that endanger habitability and comfort are covered.
At UBICA we look for the appropriate coverage for our clients' business sector. Trade insurance must be tailor-made and needs-based. There are different types of guarantees, from protecting the premises, to goods and billing if an accident occurs that makes it impossible for the proper development of the business.
Commercial insurance is a multi-risk insurance designed to provide the cover appropriate to the needs of those commercial establishments whose main activity is the sale of products and/or retail services, that is, to the final customer.
Trade insurance not only covers the basics like fire, smoke, impacts... also covers material damage which may affect the building, due to damage caused by water, broken glass, damage caused by fire, explosion, or caused by atmospheric phenomena. Also damage from electrical short circuits, various breakdowns or theft.
Optionally, if the establishment has to temporarily stop its activity due to a claim, it can choose between covering the loss of profits or charging a compensatory income until it can resume business activity, as if nothing had happened.
Trade insurance should also cover damages for civil liability arising from damage or injury that may be caused to other persons, such as the fall or detachment of a piece of balcony or railing, food poisoning, etc. Then, civil liability covers the reparations and indemnities that the insured has to pay to other people for the damages caused.
As with most insurance, trade insurance is fully customized and flexible. Thus, you can only secure what really matters and with the most adjusted price. For this, at RSM Brokerage Insurance we will advise you to hire insurance to the needs of your business.