'Multi-risk insurance': APESEG recalls that this insurance covers acts of vandalism in businesses

Updated on 04/08/2022 08:05 pm

The acts of violence and looting that have occurred in recent days, as a result of the demonstrations called in the country, have had a greater impact on the commerce sector, since many businesses were forced to close their doors. For it, the Peruvian Association of Insurance Companies – APESEG reminds all business owners who have contracted Multi-Risk Insurance and who suffered material damage during the last demonstrations, that they have protection against acts of vandalism.

In this sense, the insurance can cover the total value of the material losses that occur during the term of the contract in situations such as the current one, where businesses are being looted, broken windows, damage to their real estate, theft and acts of vandalism in general.

“The recommendation for business owners affected by these acts of violence and who have contracted Multi-Risk Insurance is to review their contracts to verify what damages are covered by this coverage and their amounts; make a list of the damages and losses incurred by the event and communicate with your insurance broker and/or insurance companies”, said Eduardo Chávez de Piérola, legal manager of APESEG.

Multi-risk insurance covers:

– Robbery or robbery to the business.

– Strikes, civil unrest or vandalism affecting property.

– Civil liability before third parties.

– Broken pipes, floods and glass.

– Natural disasters, such as an earthquake.

– Fires and explosions.

Multi-risk insurance covers material damage that occurs in the insured premises

“It is important to take into account that, depending on the nature of the business, the entrepreneur can choose the risk or risks that he considers may affect him the most. For this, there are several options in the market and companies that can advise them and thus make an informed decision according to their economy. Depending on the commercial policy of each insurance company, you can access financing for up to 12 interest-free installments. Additionally, insurance companies also offer additional benefits such as legal assistance or preventive inspections, in order to make some safety recommendations, among others”Eduardo Chavez added.

Additionally, you can contract the Loss of Profit Coverage that some insurers offer you when you contract your Multi-Risk Insurance, which will allow you to compensate for the economic losses that your business has suffered during the period that it has been inactive.