Corporate property insurance
The main goal of the company is to focus on its business. In order to ensure the preservation of the property necessary for the functioning of the company even in unforeseen situations, we assist in risk mitigation with the help of corporate property insurance.
Corporate property insurance
Insuring the company’s buildings and property gives the owner and user a sense of security. In addition to the prevention activities that you can do yourself to reduce losses, insurance helps to mitigate risks and minimise the consequences of unexpected losses.
Extent of insurance cover
Extent of wide insurance cover. It is possible to choose all-risk insurance cover, which, in addition to the usual insurance covers (fire, plumbing leak, storm, flood, burglary, vandalism, equipment or electrical failure, etc.), includes all unexpected and unforeseen events that are not excluded by the insurance terms and conditions.Additional covers
Flexible additional cover options. Deductible insurance, extension / non-application of underinsurance, cover against damage caused by construction work, burglary cover in the case of non-application of the security alarm system, terrorism cover, extended cover for portable property, additional cover of the owner of the building, etc.Meeting needs
Professional identification of the company’s insurable interest. An ERGO specialist advises on concluding a suitable insurance contract.Consultation
An ERGO specialist advises on damage prevention to help mitigate the risks of the company.Additional insurance options
The possibility to extend the company’s insurance cover not only to property insurance, but also to other types of insurance that are important for the company: business interruption insurance, general liability insurance, producer’s liability insurance, employer’s liability insurance, etc.Loss adjustment
Fast and professional claims handling.What does ERGO corporate property insurance cover?
Fire
We will indemnify for damage caused directly by fire, arson by a third party, direct hit by lightning, overvoltage caused by lightning strike, explosion, downing of the aircraft or its part and cargo.
Pipe leakage
We will indemnify damage caused directly by the discharge of liquid or gas penetration from the technical system of the building (water, heating, sewerage or storm water pipelines, as well as fire-fighting, ventilation or air conditioning systems).
Burglary
We will indemnify damage caused directly by theft at the insured location as a result of burglary of the building or its premises, robbery, vandalism in the course of burglary or robbery.
Vandalism
We will indemnify damage caused by a third party, the direct cause of which is unlawful violation or destruction of the insured object, the collision of a land vehicle with the insured object, thefts of parts of the insured building, interior decorations or the facility.
Storm
We will indemnify damage caused directly by a storm with a wind speed of at least 18 m/s, hail, a tree or other object that has fallen on the insured object due to a storm.
Flooding
We will indemnify damage that is directly caused by natural flooding.
Klaasi purunemine
We will indemnify damage caused directly by the breakage of internal or external glass installed locally on the building, structure or interior finish and damage to advertising (painted or glued texts) on the glass belonging to the insured person.
All risk
We will indemnify damage that is directly caused by another unexpected and unforeseeable event that is not defined in the insurance covers listed above and is additionally excluded in the case of all risk.
For example, all-risk events are events caused by the breakdown of the building’s technical system (a so-called internal failure), collision of an employee-driven land vehicle with the insured object, overturning or falling of the insured object, falling of a tree, antenna or other object onto the insured object if this fall was not caused by a storm.
What does ERGO corporate property insurance cover?
We will indemnify for damage caused directly by fire, arson by a third party, direct hit by lightning, overvoltage caused by lightning strike, explosion, downing of the aircraft or its part and cargo.
We will indemnify damage caused directly by the discharge of liquid or gas penetration from the technical system of the building (water, heating, sewerage or storm water pipelines, as well as fire-fighting, ventilation or air conditioning systems).
We will indemnify damage caused directly by theft at the insured location as a result of burglary of the building or its premises, robbery, vandalism in the course of burglary or robbery.
We will indemnify damage caused by a third party, the direct cause of which is unlawful violation or destruction of the insured object, the collision of a land vehicle with the insured object, thefts of parts of the insured building, interior decorations or the facility.
We will indemnify damage caused directly by a storm with a wind speed of at least 18 m/s, hail, a tree or other object that has fallen on the insured object due to a storm.
We will indemnify damage that is directly caused by natural flooding.
We will indemnify damage caused directly by the breakage of internal or external glass installed locally on the building, structure or interior finish and damage to advertising (painted or glued texts) on the glass belonging to the insured person.
We will indemnify damage that is directly caused by another unexpected and unforeseeable event that is not defined in the insurance covers listed above and is additionally excluded in the case of all risk.
For example, all-risk events are events caused by the breakdown of the building’s technical system (a so-called internal failure), collision of an employee-driven land vehicle with the insured object, overturning or falling of the insured object, falling of a tree, antenna or other object onto the insured object if this fall was not caused by a storm.
What can be added?
Liability insurance
We will also indemnify the agreed deductible if the amount of damage exceeds the deductible specified in the policy.
20% underinsurance extension
Underinsurance will not be applied if the insurable value of the insured object at the time of the insured event does not differ from the sum insured by more than 20%.
Construction works
If the contract value of the construction works does not exceed EUR 50,000, the insurance cover extends to an insured event caused by construction work carried out at the insured location.
Terrorism
Insurance cover extends to damage caused by terrorism.
Scope of insurance coverage for portable laptops and tablets
Laptop and tablet insurance cover is valid outside of the insured location fixed in the policy worldwide.
Insurance cover for inventory and equipment added during the insurance period
The insurance cover extends to the inventory and equipment added at the insured location during the insurance period to the extent of the sum insured that has been agreed in the policy.
Temporary relocation of inventory and equipment
The insurance cover of the inventory and equipment is maintained during their repair and maintenance work outside the insured location specified in the policy.
Additional cover for building owners (damage caused to the building by tenants)
The insurance cover extends to damage to the building that is the insured object due to an insured event caused by a tenant in the same way as if the event would have been caused by a third party within the meaning of the insurance contract.
What can be added?
We will also indemnify the agreed deductible if the amount of damage exceeds the deductible specified in the policy.
Underinsurance will not be applied if the insurable value of the insured object at the time of the insured event does not differ from the sum insured by more than 20%.
If the contract value of the construction works does not exceed EUR 50,000, the insurance cover extends to an insured event caused by construction work carried out at the insured location.
Insurance cover extends to damage caused by terrorism.
Laptop and tablet insurance cover is valid outside of the insured location fixed in the policy worldwide.
The insurance cover extends to the inventory and equipment added at the insured location during the insurance period to the extent of the sum insured that has been agreed in the policy.
The insurance cover of the inventory and equipment is maintained during their repair and maintenance work outside the insured location specified in the policy.
The insurance cover extends to damage to the building that is the insured object due to an insured event caused by a tenant in the same way as if the event would have been caused by a third party within the meaning of the insurance contract.
Business interruption insurance
We also offer a sense of security in case of losses caused by business interruption or decrease in turnover, which are caused by an insured event of property insurance or equipment failure. Read more about business interruption insurance, which can be added to corporate property insurance.
Good to know / FAQ
In the case of corporate property insurance, the insured object is the assets of the company, the damage or loss of which may cause economic damage to the company. Typically, such insured items are the company’s buildings or parts of buildings, structures, machinery and equipment, furniture and other fixtures, raw materials, finished products, goods, etc.
Corporate property insurance covers various risks that may arise in case of damage or loss of assets, such as fire, plumbing leakage, burglary, vandalism, storm, flood, as well as other unexpected and unforeseeable events agreed in the insurance contract.
The insurance premium for property insurance depends on a combination of several factors. These include the value of the insured property and the sum insured, the extent of insurance cover, the amount of the deductible, and the previous loss history. When assessing insurance risks, the amount of the insurance premium is influenced by the field of activity of the company, the protection and security measures used, the location of the property, etc.
Typically, property insurance does not cover losses related to business interruption. In order to cover losses related to business interruption, in addition to property insurance, business interruption insurance has to be taken out as well.
Business interruption insurance covers damage caused by the interruption of the company’s activities as a result of a property insured event. Business interruption insurance usually covers, for example, the company’s fixed costs, lost operating profit, and additional expenses necessary for the continuation of its activities.
