GETTING STARTED
Three points to consider
- Describe the actual activity as well as the CAE code.
- Distinguish premises, equipment, stock and third-party property.
- Check whether business interruption has specific cover.
What do you want to protect in the business?
Identify the premises, equipment, furniture, stock and other relevant assets. Check which belong to the business, which are leased or financed, and whether you hold customers’ or suppliers’ property. These may need different treatment.
A policy should reflect the operations actually carried out at the site. Tell the intermediary about additional activities, storage, production processes and other circumstances that help describe the risk.
Sums insured and asset valuation
Separate the buildings sum insured from contents and clarify how equipment and stock are allocated. Check the specified valuation method, updates to sums insured and treatment of items whose replacement involves additional costs.
If stock levels vary seasonally, describe that variation. Book value and the value relevant to insurance may differ. Ask about the basis used in the quotation and the consequences of an insufficient sum insured.
Fire, water, theft and other damage
The quotation may offer different combinations of cover. Check the events covered, required protective measures, limits and excesses for each relevant risk. Detection systems, intruder protection and premises features should be described accurately.
Do not assume internal machinery breakdown is included in property damage protection. Electronic equipment, machinery or specific risks may require separate covers or policies.
Business interruption needs separate consideration
Damage to premises can prevent a business from operating even after repair costs have been assessed. Ask whether suitable cover exists for the business interruption losses or additional expenses you want to provide for.
Clarify the event triggering cover, the indemnity period, calculation basis and limits. A fall in turnover alone does not establish a covered claim.
Example: a small retailer’s risks
A shop may need to assess alterations to the premises, equipment, stock and the effect of closure following damage separately. Employees or services capable of causing harm to others create further protection needs.
Multi-risk insurance should not be assumed to replace occupational accident, professional indemnity or other insurance. Reviewing them together helps explain each policy’s role without promising universal cover.
What to prepare for the assessment
Have the CAE business activity code, risk address, year of construction and buildings and contents sums insured requested in the form available. Also prepare a description of the activity and assets to discuss with the intermediary.
Report relevant changes such as new premises, building work, equipment or changes in activity. RMACHADO GROUP helps gather the information and clarify terms before a decision.
A question to clarify before deciding
Which assets and sums insured are allocated to buildings and contents, and how will they be updated?
The product examples mentioned in the frequently asked questions illustrate possible differences. They are not an offer from RMACHADO and do not show that a particular cover is included in your policy. Availability, acceptance and terms must be confirmed in the specific quotation.
What to compare in a quotation
Use these questions to clarify differences that could affect your decision.
| Comparison point | Question to clarify |
|---|---|
| Assets | Does the policy address equipment, stock and third-party property? |
| Activity | Does the description match the operations carried out? |
| Interruption | What event triggers cover and for how long? |
| Protection | What measures are required and what limits apply to each risk? |
Frequently asked questions
Are all equipment breakdowns covered?
No. The cause of damage and the cover taken out are decisive. Clarify whether specific machinery breakdown or electronic equipment protection is needed.
The premises are rented. Is multi-risk insurance still worth considering?
There may be needs relating to contents, alterations or responsibilities under the lease. The assessment should distinguish the owner’s property and interests from the business’s.
If turnover falls, does the insurance pay the difference?
Not automatically. Business interruption cover has its own insured events, conditions, periods and limits. Its scope must be confirmed in the quotation.
Must buildings and contents be assessed separately?
Yes. The Lusitania example consulted distinguishes the premises from contents. Check the assets and sums allocated to each.
Can sums insured be updated automatically?
Some arrangements offer annual increases by a chosen percentage. Check whether the quotation includes this mechanism and how it works.
Does the business sector affect the arrangement?
The offer consulted distinguishes retail and services according to size and risk. Describe the activity accurately for assessment.
THE NEXT STEP
A review starts with your details.
Prepare the request, check the summary and submit it when correct. A record is created only after final submission; the request does not activate insurance.
Prepare a quotation request ↗Further information
Consult institutional sources and reference documents. Insurer pages illustrate specific products; their terms are not necessarily included in any quotation presented by RMACHADO GROUP. Some linked sources are in Portuguese.
General information from RMACHADO GROUP. Examples are illustrative and do not guarantee cover, price or outcome. Terms, acceptance and cover depend on the quotation and policy. The intermediary does not underwrite the risks.