A business starts with an idea, a dream, or a vision that an entrepreneur has and wants to turn into reality. For this idea to become a long-lasting reality, it takes sustained effort, assumption of risks, and finding solutions to ensure business continuity in the face of unforeseen.
Caught up in developing your own business, working with determination and persistence to pursue your dream and doing whatever it takes to turn the idea into a profitable business, you keep putting off property and asset insurance. But when misfortune strikes, it does not choose either the person or the moment, as shown here by some illustrative statistics for 2023.
According to UNSAR, the 50 largest compensations paid last year based on insurances dedicated to companies totaled over 117.3 million lei (23.8 million euros), an increase of 9%, distributed as follows:
- 83% fire (97.7 million lei)
- 17% damages caused to third parties (8.4 million lei); weather phenomena (4.3 million lei); collapses/landslides (3.5 million lei) and explosions (2.5 million lei) and thefts (1 million lei)
In 2023, Groupama paid 542 damage files for PJ goods and properties, and the largest damage paid was 4.7 million lei. The 5 most frequent risks that generated the paid damages are: 30% storm, 18% flood from neighbors, 15% broken water pipes, 10% vandalism/theft, and 8% fire.
In addition to the concrete measures regarding the legal rules for protection against risks, with Fire and other calamities Insurance, you will have the certainty that, regardless of the risks to which they are exposed your business headquarters, production facilities, be it, machinery, raw materials or stock of goods, they are insured. Thus, you will more easily overcome any possible issue either from a financial point of view or from the point of view of the time needed to remedy the damage. The latter usually means the interruption of business activity and the generation of losses. That’s why, in addition to property insurance, you can also insure gross profit losses caused by the temporary, partial, or total interruption of activity, following insured events.
Fire and other calamities Insurance is a flexible product that allows buildings and/or their contents to be insured in 3 types of coverage, depending on the needs of your business. In the Standard version, you have included risks such as fire, lightning, explosion, and falling aircraft, the Extended version has in addition flood, storm, collapses or landslides and the weight of snow, and the All Risks version, being the most comprehensive, additionally covers earthquake, damage to water installations, sewage or central heating, flooding from neighbors, theft, being hit by vehicles, sonic waves, falling bodies, political risks, vandalism.
There are many worries when faced with an event that causes damage to your buildings or property, so we have taken care of simplifying the claims process:
- self-assessment, you receive your money in your account within a maximum of 72 hours from the agreement, for damages of less than 10,000 lei
- payment of an advance of 30%, within 72 hours of submitting the declaration of acceptance of the partial compensation
- guaranteed final payment, within 15 days of submitting the declaration of acceptance of compensation
- Online notification of the damage.
Challenges and difficult moments are part of every entrepreneur’s life, you can’t avoid them and you can’t predict them, but you can insure them with the right policy. We hope this material has helped you discover it and better understand what it can do for you.
Take the step towards an insured future and ask for an insurance quote.
For additional information, you can consult the virtual assistant Amelie (24/7) on groupama.ro, you can write to relatii.clienti@groupama.ro, or you can call AloGroupama at 0374.110.110 (Monday – Friday, between 8:00 – 18:00) or contact the Groupama network of sellers and partners.