How can I calculate the Premises for a retail or office space?
In order to calculate the insured sum you must take into account the reconstruction value of the building, which is calculated by knowing two figures:
- The built surface in m2, adding the square metres corresponding to the common parts, also belonging to the property.
- The value of the m2. At present, this is established at 565 Euros for an average construction quality.
After having obtained both figures, the surface and the value of the square metres, one just has to multiply both values.
How can I calculate the Content of a retail or office space?
To calculate it we must take as a reference the value when new or the replacement cost of the good. It is very important to correctly insure the goods in order to not under-insure or over-insure, that is, value below or above the value of the good, which will normally have a negative influence in the event of receiving compensation.
Which are the basic guarantees which are covered by a Commercial Premises insurance policy?
Some of them include covering the damage caused by fire, explosion and electricity, smoke, wind, snow, broken windows which may have been caused by a vehicle colliding into the establishment, demolition costs and removal of debris, loss of rent in the event of an accident, etc.; taking into account that all of these guarantees and many others are basic and in this case cover 100% of the insured capital.
In the event of a lorry crashing into the front of my establishment and breaking the window and everything inside it, would I have to pay for these costs?
No, in this case Ocaso would pay for 100% of the insured goods.