Commercial buildings insurance: What is covered?

Peace of mind: buildings insurance

Buildings used by the company and investment properties alike are a fundamental component of a company's assets. This makes it all the more important to have comprehensive buildings insurance which provides protection in the event of a claim. Buildings insurance ensures that companies are always covered in the event of property damage due to storm, fire and other unforeseen events.

Why is buildings insurance advisable?

High water, flooding or burglary can cause substantial damage to a building and have serious implications for a company's continued existence. Ultimately, not only damage to the building itself, but also consequential losses such as the clearance costs or the loss of rental income can jeopardize a company's very survival. Buildings insurance provides protection against heavy financial losses in the event of a claim. As a supplement to the compulsory cantonal buildings insurance which, in most cantons, covers fire and damage by natural forces, Helvetia offers protection against additional risks. In cantons with compulsory cantonal buildings insurance, the boundary stipulations made by the cantons must be observed.

A brief guide to commercial buildings insurance

The insured events and items are

Building including structural and business facilities such as technology and infrastructure
Supplementary insurance cover in addition to cantonal buildings insurance
Parts of the building not covered by cantonal buildings insurance
Costs in connection with a cable or pipe breakage, including detection, exposure and repair
Follow-up costs and loss prevention costs
Building's surroundings such as gardens
Equipment and materials belonging to the building
Loss of rental income and loss of revenue
Damage caused to the building by graffiti sprayers and vandals or malicious damage

Who should take out buildings insurance?

Which risks does commercial buildings insurance insure?

Fire
Fire, smoke and lightning strike can cause massive damage to the building. Buildings insurance also pays out for damage caused by fire-fighting water, explosions and scorching and singeing damage.

Natural forces
Buildings insurance covers damage caused by natural forces. These include protection in the event of natural forces such as high water, storm and hail, landslide, avalanche or rockfall.

Theft
In the event of a provable break-in or attempted break-in, buildings insurance also pays the costs of damage to buildings and building parts.

Liquids and gas
The insurance also covers indirect losses due, for instance, to leaking liquids and gas from pipes, penetration of rain and melt water or condensation. Follow-up costs of damage caused by water, such as fungal infestation and vermin, are also covered.

Additional options

Glass breakage
The insurance protection includes breakage of glass windows, other glazing and sanitary facilities including clearance and installing a replacement.

Earthquake and volcanic eruption in the vicinity of the building
Insurance protection is provided for damage to buildings and parts of buildings sustained within 168 hours of an earthquake or volcanic eruption.

All risks
The all risks component is an optional extra which insures unforeseen hazards, such as collision and operating damage to building technology and infrastructure systems and devices.

Buildings insurance