What is it?

Building insurance for businesses, often referred to as “Gebäudeversicherung für Unternehmen” in Germany, is an insurance policy that provides financial protection for the structure of a business property against various risks such as fire, theft, natural disasters, and vandalism.

Navigating through the different insurance options in Germany can be challenging, but the peace of mind and financial stability it offers make the effort worthwhile.

What are the benefits?

Business building insurance policies are usually customizable, allowing businesses to tailor their coverage to specific needs. Beyond the structure itself, policies may also cover outdoor fixtures, inventory, or even landscaping. Optional extensions can include business interruption insurance, legal liability, or even machinery breakdown.

As each business is unique, attention to detail is important when choosing the right coverage to avoid any costly gaps or redundancies.

Some specific benefits of this insurance are:

Fire & Natural Disasters

• Coverage: Standard policies cover damage to the building and its fixtures caused by fire, storms, earthquakes, and floods.
• What’s not covered: Damage due to lack of maintenance or failure to adhere to safety regulations may not be covered.
• Premiums: Vary depending on building materials, location, and safety features.

Theft & Vandalism

• Coverage: This covers damages or loss resulting from theft, burglary, and acts of vandalism.
• What’s not covered: Losses from theft by employees or partners may be excluded.
• Premiums: Based on the area’s crime rate and the building’s security features.

Optional Extensions

• Coverage: Additional coverage for things like electrical or mechanical breakdowns, sewer backups, or legal liabilities.
• What’s not covered: Any extensions explicitly excluded in the policy terms.
• Premiums: Added cost depends on the specific extension and overall risk assessment.

Who is it for?

Building insurance for businesses is aimed at any organization that owns or leases a physical space for operations. This can range from retail stores and warehouses to offices and manufacturing plants. The premiums can vary greatly based on building size, location, and usage.

Before choosing a plan, businesses should conduct a thorough risk assessment, especially if the property houses valuable equipment or is located in an area prone to natural disasters.