Equipment failure
Insurance protects not only against theft, damage or burglary. A company means also the equipment and machines and thanks to them our company is profitable. Failures of machines means stoppage in the company’s work, which in turn means lower profits and in case of a serious breakdown even a real threat of bankruptcy. Let us remember that we can insure our machines not only against destruction, but also against the losses we will suffer as a result of their breakdown.
- We can be protected against loss of profit
- The insurance provides protection in case of equipment failure
Most of the insurance companies providing insurance coverage for businesses offer policies for machinery and equipment. The contract is usually settled for one year and payment in installments is possible. You should examine the exact terms of insurance and check the insureance sum. Also make sure against what kind of damages your machines are protected.
- Carefully study the general conditions of insurance
- We can pay in installments
If we decided to pay in installments, we have to remember to pay them on time. When a contract ends, you should think about an extension. Let us also remember that we have to take care of the machines by ourselves. Make sure that all devices have valid and appropriate approvals and technical tests. The insurer may refuse payment if the loss occurred as a result of the accident, which was easy to predict or damage occurred as a result of our gross negligence.
How to protect property against theft?
Property theft is an event against which any company can protect by itself through e.g. the use of monitoring systems, security guards or an alarm system. Yet, it happens that the thieves manage to break all the security, rob the company and thus expose its owner to significant costs. Insurance protects us against robbery or theft. It is worth having insurance, even if we believe that we have an adequate security system in our company.
How to protect your employees?
Employee Pension Programme (PPE) is nothing but an additional incentive for an employee of our company. This programme has one goal: to assure higher pension for an employee, regardless what he/she gets from pillar I and pillar II. PPE costs incurred by the employer are tax deductible. Therefore it is also tax benefit. Although PPE is a group programme, each employee has an opportunity to develop their individual saving strategies. It all depends on the structure of the chosen PPE.
How to protect yourself against the elements?
Insurance policies protecting against the effects of fire and other random events are the most popular products chosen by companies in Poland. This type of product protects our assets against disasters we cannot control like fire, flood, heavy rain and fierce wind. The policy also protects your property against lightning. This includes electrical and electronic equipment.
If any kind of damage happens, we should notify the insurance company.as soon as possible. We will need to gather some necessary documents. If we do not know what documents we need, the insurer will help us. An insurer's representative will arrive at the scene to estimate the value of the damage in terms of the machinery breakdown cost as well as the work stoppage cost (on the condition that our insurance provides such protection).
Remember that if there is only a possibility, the company should keep on working despite reporting the loss and estimating damage costs.
We report the damage
Try to inform the insurer as soon as possible by phone or directly in the office.
Formalities
Provide the insurer with all the necessary documents and explanations. An expert will show up on the scene.
Do not disrupt operations
If it is possible the company should continue working. We do not need to stop just because the insurer's expert estimates a damage.