In commercial insurance, can the assistance guarantee be used?

 Commercial insurance is very necessary , and in most cases a must , in business. Although it is also a product that is contracted in the offices. It is intended to cover compensation for any damage that may occur both outside the premises and inside , including damaged furniture and machines. But it also covers civil liability to third parties and employees .

Among the coverages that we find in commercial insurance are those of theft , breakage of glass (especially in those that have shop windows), flood , fire.  All of them with the payment of compensation after the assessment of an expert. But what if our computer breaks down? We need to get it fixed before we see if it needs to be changed or not. Now many commercial insurances are including assistance guarantees within their policies . Among these assists are:

Computing.

Legal

24 hour assistance.

Surveillance service.

These coverages were previously included in home insurance, all except surveillance, but business policies have been updated and many of them are beginning to include these complementary guarantees.

Commercial insurance guarantees

Before explaining which are the specific ones in this type of insurance, we are going to clarify what guarantee means when we refer to these specific products.

The guarantee is the coverage that is reflected in the policy that we sign. Its price, scope and limitation must be reflected in the contract signed with the insurance company. It is a way of saying that the insurer agrees to take care of the economic needs that arise after a claim. So being guaranteed is equivalent to being covered or insured.

The basic coverage or guarantees that are usually reflected in commercial insurance are:

Robberies and robberies.

Fire.

Explosion.

Flood.

Damage to electronic equipment.

Damage to furniture and machinery.

Temporary closure of activity.

These coverages have been falling short over time. In addition, it is convenient for each trade, business or office to hire additional guarantees that better adjust to the characteristics of its activity.

Additional guarantees tailored to business

They are those offered by different insurers in order to complement the basic ones they provide. They adapt to the different particularities of business and you can adapt them to your needs . These are some of the ones you can hire to finish completing your insurance.

And here we highlight some of the lesser known guarantees but that may get you out of trouble if your business does not go as you would like.

Loss of profit

The insurer assumes the loss of profits that you may have suffered when closing the business due to an accident or incident , as long as it is provided for in the insurance contract. In addition, the activity has to be restarted after the claim has been resolved and everything necessary to proceed has been repaired. 

With this guarantee that you can contract, what is sought is that the result of the profit and loss account is the same as if the incident had not occurred. It is a way of being able to face, for example, losses due to damage in a store after a robbery with destruction.

Loss of rents

This additional coverage is intended for those businesses that rent a premises to a third party. It is responsible for protecting your income if due to an accident the tenant stops paying the rent due to not being able to continue with the activity . In other words, the tenant of the premises can benefit from the guarantee of loss of earnings if he has contracted it, and the owner of the premises will have his income insured with this coverage for loss of rents.