What is All Risk Property Damage insurance?
All Risk Property Damage insurance covers the building, furniture, machinery and stock if necessary. Also covered are the stoppage of the company and the losses arising therefrom with the coverage of loss of profits.
Coverage features
Its main feature is that it covers everything except what is excluded in the policy. In other words, unlike the multi-risk policy, it covers the accidental damage, which makes it the most complete option for damages in the market.
The main objective of all-risk property damage insurance is to protect the company’s assets against any damage to its facilities. It manages to mitigate losses and cope with any unforeseen events. To achieve this, it is important to rely on risk management and to improve the company’s protection measures in order to reduce risk, a factor that insurance companies value positively.
How do we work with All Risk Property Damage insurance?
To issue the policy, the O.Brokers team analyses and studies each company to offer the necessary and specific coverage. We also review the fire protection measures and propose improvements that will allow for reducing the risk and finding the best coverage in the market.
We are in regular contact with client companies to follow up on the necessary issues to ensure the most appropriate coverage at all times. The important points that we constantly deal with are the updating of the capital insured, the revision of coverages and limits and the follow-up of protection improvements indicated by the companies.
Proactively, we work very closely to clients to ensure that the policy is always updated in relation to possible new activities that the company may undertake and the associated new risk situations.
We also advise clients in defining the internal procedures and protocols necessary to mitigate risk and propose to establish a continuity plan to ensure the company’s longevity.
- All Risk Accidents
- Electrical damage
- Aesthetic damage
- Fire, explosion, lightning strike
- Water damage
- Theft and Robbery
- Demolition and debris removal costs
- Glass breakage
- Vandalism
- Automatic coverage
- Capital compensation
- Replacement of value as new
- Loss of profits
- Machinery breakdown
- Electronic equipment
- Employee assets
- Goods owned by third parties
What can happen to trigger All Risk Property Damage insurance?
- In an industrial warehouse where furniture is stored, a shelve breaks, causing all the furniture to fall and break.
- Due to welding work in a factory, a fire breaks out of control and burns down the entire site.
- A water leak in an office causes damage to the floor.
