FAQ: BUSINESS INSURANCE
Here, you will find some of the most frequently asked questions about our Business Insurance and Group Insurance. If you would like to find out more, please contact you insurance agent or one of the Generali Sales Offices.
Businεss Dynamic & Business Sense
What do I have to do if damages occur to my business, and how much time will it take for my compensation to be available?
You have to report the accident / damage to Generali or your insurance agent. Once the claim file is completed (with the necessary documents), you will receive your compensation within 24 hours – regardless of the amount. Your compensation can be paid directly into your bank account for your convenience.
How can I renew my insurance policy?
The policies are automatically renewed by Generali, unless we receive a notice from you, or unless there is an outstanding amount to be paid.
Can I insure a photovoltaic system placed on the rooftop of my business property?
Of course. Business Dynamic & Business Sense can cover your photovoltaic system against all insured risks, as long as you include it in the insured property value and the insurance application. Generali can also offer you an allowance for loss of income, due to energy supply failure caused by the insured dangers.
What if my business cannot operate because of damages caused to it?
With Business Dynamic, Generali gives you a daily allowance for each day the insured business remains non-operational, after damages. There are four options of daily allowance for you to choose from, according to your needs.
Can I insure the personnel of my business against accidents, so they can feel safe?
Yes. Business Dynamic has an optional cover for Personnel Insurance for the coverage against accidents that might occur within or outside your business. You can choose between three different options.
Can Generali offer me a cover for the compensation I will have to pay, in case a customer has an accident within the premises of my business?
One of Business Dynamic’s basic covers is Generali Civil Liability. With this cover you are covered against the death, physical damage, or damage to the property of third parties, caused by your negligence / oversight.
Generali offers three different levels of Civil Liability, so you can choose the appropriate package for you and your business, at an affordable cost, and feel responsible towards your clients.
I have made improvements to my building / store and have bought extra equipment, but I haven’t yet reported the changes to Generali. Will there be a problem in case of damage?
With Generali there will be no problem at all. Business Dynamic automatically covers newly acquired objects / features (improvements & equipment), in the condition that their value does not exceed 10% of the total insured capital of improvements and equipment.
The building structure where my property is based is old. Is the damage caused by leakage of water / sewage pipes or heating / air conditioning pipes covered?
Business Dynamic covers all damage to insured objects, caused by leakage or breakage of water pipes, heating pipes and air conditioning pipes, even in building structures older than 25 years. Moreover, the program covers physical damage to insured objects, caused by leakage or breakage of sewage pipes.
In my business, there are many electric appliances, as well as electronic equipment. Is the damage by electrical fault / failure covered?
Yes. Business Dynamic covers the damage caused to the appliances, electronic devices and other equipment, by electrical fault / failure.
Can I insure my business against earthquake damage?
Yes. In both Business Dynamic & Business Sense you can select the optional earthquake cover which includes damages caused by an earthquake – directly or indirectly, fire or tsunami caused by an earthquake, as well as subsidence / landslide caused by an earthquake. The insurance cost for the cover is the same for all areas in Greece.
At what value are the business property and products insured?
The property is insured at reconstruction value (with new material of the same specifications) including the main structure and the improvements. The products and equipment are insured at replacement value. Please bear in mind that when insuring products, the insured value is calculated based on the products’ purchase invoice.
Which parts of the property are insured by the two insurance programs?
With Business Dynamic & Business Sense you can insure:
- The building structure and added on improvements.
- The content (products, equipment etc.).
- Externally attached structures (tents, signs etc.).
- External ancillary structures (storage room, yards etc.).
- Mobile objects placed or exhibited (during working hours) outside the building –
either in open air, or under a shed.
What are the prerequisites for insuring a business?
All businesses must be authorized and have a license, must have the mandatory fire safety features and security locks / security shutters / alarm system.
Especially the businesses listed below can only be insured if they have all three security measures: security locks, security shutters and an alarm system connected with a security company.
- Mobile telephony shops.
- Lottery shops.
- Convenience stores.
- Optical stores.
- Pharmacies / pharmaceutical warehouses.
- Auto repair / mechanical shops.
How will I know if Business Dynamic & Business Sense are appropriate for my business?
These two insurance programs have been especially designed for small and medium sized businesses, of total insured value up to 1.000.000 euros. They offer reliable and comprehensive covers for their commercial and production activities, at very competitive cost. Business Dynamic and Business Sense are appropriate for whole sale and retail stores, medical centers, offices, B&Bs, small hotels and bungalows and other businesses.
Business Dynamic & Business Sense can be purchased by:
- Commercial / Professional property owners, who use their property for commercial / professional reasons.
- Commercial / Professional property owners, who lease the property.
- Tenants of commercial property wish to insure the content of and the added on structures to the building (decoration, signs etc).
What else does GPS offer?
Besides the easy management of the insurance covers and useful information, GPS gives you many discounts and offers:
- Free check-up in hospitals and diagnostic centers
- Special prices at diagnostic centers
- Special prices at a network of Physiotherapists
- Special prices for at-home hospitalization
- Discounts at optical stores for glasses and contact lenses
- Discounts at rehabilitation centers
- Discounts for in vitro fertilization
- Discounts at cosmetic medicine centers
Is GPS offered only by Generali? What is it exactly?
Yes. It is an innovation of Generali.
GPS is not an insurance program, but a free service, offered to all insured persons under a Generali group insurance program.
It is a service that has been designed to be user friendly, and facilitate all members of personnel manage their claims and insurance covers and find useful information. It can be accessed 24h a day, 365 days a year and it assures the best cost for the employer as well as the personnel.
What businesses are excluded from the GP group insurance programs?
- Already insured groups (transfer of insurance contracts cannot be made)
- Dangerous professions
- Armed Forces
- Sports teams and sports unions
- Associations and Unions
Can the payment for a GP policy be made in installments?
The payment of the premium for GP packages can only be annual or semiannual.
Can I make changes to a GP group insurance program or separate the personnel into sub groups?
The limits of the coverage of the GP programs cannot be changed. The selected program has to be the same for all members of the personnel. In other words, it is not possible to have different subgroups of personnel under one policy.
Who can be insured by the three programs, GP1, GP2, GP3?
Personnel of 18 years of age up to 70 years of age. Their dependents are also covered by the policies.
Dependents are defined as the spouse (up to 70yrs old) and the children (from 14 days old up to 19 years or 25 years old – if still in university and unmarried).
A completed health questionnaire form is necessary, for any member of the personnel to be included in the group insurance policy.
Who are the three insurance packages, GP1, GP2 and GP3, designed for?
The packages are available only to newly insured groups. A newly insured group is defined as a group that has not been insured for over a year. Minimum number of employees is ten and maximum number is 30, with no limitations in the number of dependents.
If the insured personnel is less than 10, for example 9, it is necessary to have 6 dependents, so the total number of persons reaches 15. In this case however the number of dependents cannot exceed the number of insured employees. The main insured persons cannot be less than 8.
Two or more businesses can be insured under the same contract if the legal representative is the same, and the field of business is the same. For example two restaurants, three bakeries, two clothes stores etc.