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Commercial building insurance

Commercial building insurance in Switzerland

Comprehensive protection of a business real estate

The excellent condition of the company’s buildings is one of the critical factors for its continued operation. In the event of a natural disaster or fire, the amount of damage can be staggering, even for larger companies. Building insurance is a smart way to ensure that any misfortune does not determine the further existence of the company. Due to that, it is mandatory in a lot of cantons. 

Like many other types of insurance, commercial building insurance consists of basic coverage and supplemental benefits.

What is covered by basic insurance?

Basic commercial building insurance covers the following risks:

  • fire: damage caused by fire, smoke, lightning and explosions
  • damage caused by natural phenomena: hail, flood, avalanche
  • damage of any kind caused by water
  • damage to glass surfaces
  • burglary damage
  • damage caused by acts of vandalism, intentional damage, damage caused by rodents

 

That insurance covers not only the repair and renovation expenses but also the costs of consequential damages, such as cleaning costs or loss of rental income.

 

Damage caused by water – presumably the key risk covered by basic insurance

Damage caused by water infiltration or flooding is usually very difficult to repair and entails up to several hundred thousand or even millions of Swiss francs in costs. Whether it is rainwater falling through an open window or a leak in a plumbing system, immediate action is always necessary to limit the extent of the damage and, often, to save the building. Building insurance companies have contracts with professional companies that handle water damage restoration.

 

If the water intrusion is not stopped in time, the employees of such a company will take care of the damaging results. In the event of a leak, it is located and secured with special tools, and, in an emergency, the walls may be knocked out. Next comes the repair of the site and drying of the affected rooms. This can take several weeks, and you’re provided with equipment to extract moisture from the damaged walls. If further work is required to restore the site to its pre-damage condition, everything will be organized and coordinated by the insurance company, regardless of what professionals are needed.

Supplemental coverage in commercial building insurance

If you feel that basic insurance is insufficient, you can buy additional protection: buildings liability insurance, technical and garden installations insurance and special earthquake insurance.

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