A business represents a significant investment that deserves to be covered in case of danger. For this, most entrepreneurs turn to insurance companies to find the best deal for their business. Among the solutions offered by the latter is multi-risk professional insurance. This is a service that guarantees coverage of many categories of damage to preserve the finances of the company and the insured. Find out what this insurance is and the benefits of taking it out.
Professional multi-risk insurance: general information to know
ONE professional multi-risk insurance is a contract between a professional and a insurance company. It guarantees one cover over optimal utilization of his company’s assets and activities. It can also cover its civil liability in certain cases and is chosen according to the nature of the insured company’s activities. With this contract, the company therefore benefits from a compensation from his insurance company in case of spooky instead of bearing the costs themselves.
Who is it for?
L’professional multi-risk insurance applies to all companies. These are basically very small enterprises (TPE) and small and medium-sized enterprises (SME). Associations or social communities are also concerned. Professional multi-risk insurance applies companies, regardless of their industry. Whether you are a farmer, in construction, a trader, a liberal professional or even in the medical profession, you can request this insurance solution.
Is it compulsory to take it?
L’professional multi-risk insurance it is not mandatory. However, the guarantees related to civil risks it includes are necessary for professions that are subject to a legal and regulatory framework. These are primarily jobs related to health and personal travel. Businesses offering tourism services, those with a fleet of cars, lawyers, construction workers, etc. are similarly affected. Don’t have insurance professional offering the best coverage exposes the company or liberal professional to fines in the event of an injury.
Read also: How do you find ten-year insurance for a closed business?
Why take out professional multi-risk insurance?
ONE professional multi-risk insurance (MRP) protects you against incidents for which your company can be held responsible, but not only. Damages that could affect it or jeopardize the proper functioning of your business are also taken into account. These are mainly cases of fire, natural disasters, theft or faulty equipment. The forms of guarantees can be classified into two broad categories.
Warranty in case of damage
- Fires and related risks
These are cases of fire that starts in your premises and spreads to neighboring properties. This type of damage can cause various additional risks such as deterioration of your own property, as well as that of others, with the possibility of death.
- Natural disasters and other disasters
The risk of natural disasters is often assessed based on the location of your premises. It can be earthquakes, floods, storms or health crises. They are also studied at the time of signing your contract. professional multi-risk insurance.
- Cases of riots or popular uprising
Riots and popular uprisings are equated with urban violence. This is a situation that represents a real risk for a company. The list of damages caused during this type of event is generally long and, above all, very heavy in terms of costs. Since this situation is unpredictable and most often results in extreme violence against both people and property, it is better to be covered by MRP insurance. Please note, however, that the thefts (looting) registered as part of these popular movements are not always reimbursed, even if your business insurance includes a theft guarantee.
- Collapse of buildings
It may happen that your company’s building collapses without causing an earthquake. This may be related to poor quality foundations or an incident. In this case, your multi-risk insurance will protect you against any damage which this situation may cause. Most of the time, the compensation is financial.
L’professional multi-risk insurance guarantees you cover for damages caused in the event of theft and vandalism in your business. This also concerns the costs of reconstructing administrative documents and the legal investigations that must be carried out to find the perpetrators of these acts.
- Defective working materials
Your professional multi-risk insurance ensures the maintenance of your work equipment in the event of a breakdown or incident. Thus, you do not need to spend extra costs for their repair.
- In case of damage to material during transport
It may happen that the materials or goods that your company offers are damaged during transport to your premises. This is often a real problem for many entrepreneurs. They are forced to invest additional costs to repair the damage. You avoid this kind of situation by choosing professional multi-risk insurance.
The additional services from a professional multi-risk insurance are guarantees that it offers depending on the area of activity of the insured company. These are for example:
- Assistance and emergency aid
They allow you to find service providers for repairs of any kind that may exist in your business. This also applies to childcare. In addition, you benefit from legal assistance in the event of a dispute following a claim or against a client.
- Professional liability insurance
called again RC professional, it protects the company and its employees from the possible consequences that may arise from their activities. Thus, the compensation costs that the customer demands and defends are covered by the insurance. Professional responsibility. This is also mandatory for all workers.
- The guarantee against loss in operation
It compensates the insured in case of interruption of his activity after an incident, and guarantees him a financial guarantee or even credit insurance. This allows you to protect your company’s finances in the event of major damage.