FAQ Business insurance

  • 1. WHAT ARE GENERAL TERMS FOR BUSINESS INSURANCE IN SPAIN?
    • Insurance companies in Spain permit business owners to tailor their insurance plans accordingly to their requirements to cover their entrepreneurial risks and minimise damage and loss of profits.

      Insurance companies in Spain work with minimum franchise system – deductible minor amounts not covered by the insurers (accordingly to the franchise stipulated by the insurance contract)

      Insured amount depends on various aspects: The type of activity of the insurant; qualitative and quantitative characteristics of the insured property; operation and storage conditions of the insured property; any limiting or additional terms and conditions apart from the basic terms of insurance, etc.

  • 2. WHAT DOES THE GENERALI NEGOCIO INSURANCE POLICY INCLUDE?
    • GENERALI NEGOCIO INSURANCE POLICY is an integrated solution thought for protection of your business, that covers finishing and decorative elements, utility equipment used in the premises, property in the premises, civil responsibility for damage caused to third parties. Moreover, a special plan covers loss and damage caused by interruption of commercial activity due to an accident.

  • 3. WHAT THE PROPERTY INSURANCE SERVES FOR?
    • To organise a business it is necessary to rent or buy commercial premises, furniture and equipment. For technology-intensive business these amounts are quite high. All these property –purchased or rented- may be damaged or stolen. Property insurance guarantees that the insurance company will completely cover the damage.

      Amount of insurance shall reflect the real value of the insured property. Otherwise, the insurance company will be entitled to compensate the damage only in part.

  • 4. IS IT POSSIBLE TO INSURE PROPERTY FOR A PERIOD LESS THAN A YEAR?
    • GENERALI NEGOCIO insurance policy is annual.

  • 5. WHICH DOCUMENTS ARE NECESSARY TO TAKE OUT THE GENERALI NEGOCIO INSURANCE POLICY?
    • Legal entity details – identification code: Código de identificación fiscal – CIF.

      The owner of the business shall provide an ID – residence permit or NIE along with a passport (copies).

      The insurant shall have licenses for the said commercial activity, and provide complete information about the commercial activity, expected profit and expenses related thereto, about celebrated contracts, about all circumstances that enable to assess the risks.

  • 6. MAY AN INDIVIDUAL ENTREPRENEUR AUTONOMO TAKE OUT GENERALI NEGOCIO INSURANCE?
    • The insurant may be either a legal entity or an individual entrepreneur.

      Аutónomos are identified by the tax authorities of Spain with an individual number (Número de identificación fiscal – NIF), corresponding with the DNI for Spaniards or NIE for foreign citizen.

  • 7. WHAT DOES THE PRICE OF GENERALI NEGOCIO INSURANCE DEPEND ON?
    • Price of insurance is always calculated individually and depends on many factors. For example, type of business, production capacity and location of the enterprise. Experience in business is not unimportant neither.

  • 8. HOW ARE GENERALI NEGOCIO INSURANCE PREMIUMS PAID?
    • Insurance premiums may be paid through a bank account (direct debit); using a bank card; or in cash. Instalments may be paid once a year, every six or three months (breaking up an annual payment might increase the total amount).

  • 9. HOW LONG IT TAKES TO TAKE OUT THE GENERALI NEGOCIO INSURANCE POLICY IF ALL NECESSARY DOCUMENTS ARE AT HAND?
    • With all necessary documents provided the insurance contract may be formalised on the same day.

  • 10. IS A FRANCHISE PROVIDED FOR BY GENERALI NEGOCIO INSURANCE CONTRACT?
    • Your business may be interrupted by unforeseen, force-majeure circumstances. Amount of damage to be covered by the insurance company shall be calculated accordingly to the actual downtime. However the insurance company includes a franchise in the contract, establishing the minimum downtime, that is this part of damage is not covered.

      For every insured event, as regards property insurance, an unconditional and a time deductible franchise for interruption of business activity is stipulated.

  • 11. WHICH PERIOD OF BUSINESS INTERRUPTION WILL BE COVERED UNDER GENERALI NEGOCIO INSURANCE POLICY?
    • Loss caused by business interruption is covered for the period from 48 hours after its occurrence up to three months.

  • 12. WHAT ARE THE UNLAWFUL ACTS OF THIRD PARTIES?
    • Theft with illegal entry into the insured premises, burglary, robbery, deliberate destruction or damage of property, hooliganism, vandalism.

  • 13. WHAT IS CIVIL THIRD-PARTY LIABILITY INSURANCE UNDER THE GENERALI NEGOCIO POLICY?
    • Civil third-party liability insurance covers damage caused to third parties or their property in the territory of your enterprise or due to your business activities.

      This type of insurance will help if your company caused damage to a customer or if your clients present any claims against your goods or services.

      Insurance of third-party liability of user of commercial premises before the owner thereof covers damage caused by the tenant/user to the premises.

      Third party liability before the employees covers salary lost by the injured employee during temporary disability, medical treatment costs, additional expenses for recovery and rehabilitation.

  • 14. IS IT NECESSARY TO REVISE THE COMMERCIAL PREMISES BEFORE SIGNATURE OF THE INSURANCE CONTRACT GENERALI NEGOCIO?
    • There is no need to revise the premises. The contract is drawn up on the grounds of information provided by the client.

  • 15. IS IT POSSIBLE TO SIGN AN INSURANCE CONTRACT REMOTELY?
    • Yes, it is possible to formalize your contract remotely, without visiting our office personally. You only need to send required documents and a signed form by e-mail; your contract will be sent to you in the same way.

      Later you may collect you contract at the office and sign the contract personally.

      Exceptionally original documents may be sent by post.

  • 16. WHO SHALL I CONTACT IN CASE OF AN INSURED EVENT?
    • In case of occurrence of an insured event the holder of the policy GENERALI NEGOCIO should contact Expert Seguros at 965830953 or 629 856 058.

      In case of occurrence of an insured event the insurant shall take measures to minimise damage; keep the damaged property until the representative of the company arrives; provide all information required to establish causes and amount of damage;

      Then a case will be open and all necessary actions will be taken to repair the damage.