Commercial policies can be structured according to the exact needs of your business. The typical Multiple Peril Policy consists of the following sections:

Fire Insurance Section - Can be structured to cover your building, stock, plant and machinery against fire, lightning and explosion and additional perils.

Buildings Combined Section - Comprehensive building cover for non-hazardous buildings, such as: flats, offices, schools, hotels, hospitals, shopping complexes and churches

Office Content Section - Comprehensive cover for the content of your office. Please note that electronic equipment must be insured separately.

Financial Losses

Business Interruption - Business interruption is also known as “loss of profits” or “Consequential loss”. It relates to a financial loss incurred when the operations of the business are incurred due to a loss caused by a peril under the fire, buildings combined, content or other materials damage policy, but limited to the perils under the fire policy which includes, fire, lightning and explosion.

Accounts Receivable - The cover indemnifies the policyholders against financial losses caused by the loss or destruction of the accountants books. This covers the books at the premises of a director, partner and employee or the premises of the accountant.

Accident Classes

Theft - Provides cover for theft.

Money - Covers you and your business in the unfortunate event of financial loss due to the loss of, or damage to, any money kept on your business premises.

Glass - Covers the loss and damage to internal and external glass, mirrors, signwriting and the treatment thereon.

Fidelity Guarantee - Covers the direct financial loss as a result of theft, fraud or dishonesty by an employee.

Goods in Transit - Covers your goods during damage that may occur during transit.

Business All-Risk - Provides cover for property that is removed from the business premises, such as cell phones, laptops, cameras and other business equipment.

Accidental Damage - Provides cover for the accidental physical loss or damage to your property.

Liability Section

Personal Liability Section - Covers damages which the insured shall become liable to pay for consequence upon death, bodily injury to or illness of any person or loss or damage to physical property which occurred in connection with the business.

Employers Liability Section - Insurance cover for damages that you or any member, partner, director, principal or employee of business may be held legally liable to pay following an incident in the course of or in connection with the persons employment with the Insured.

Personal Accident Section - The Insurer will pay to the insured, on behalf of an insured life or their estate, the compensation stated in the table in the event of accidental bodily injury to any insured life directly and independently of all other causes specified in the table under the heading circumstances.

Commercial Motor Section - Covers Loss or damage to any vehicle as described in the schedule, and its accessories and spare parts whilst thereon.

Motor Traders Section - Covers Loss or damage to any vehicle as described in the schedule, and its accessories and spare parts whilst thereon.

Electronics Section - Covers physical loss of or damage to electronic equipment at the insured’s premises, in transit and temporary removal. Cover is worldwide for portable electronic equipment. Cover may be structured to cover consequential losses including the reinstatement of data or programs as well as the increased costs of working.

No. We are proud to say that we charge NO policy fees. Whether you deal with the insurer directly or via FINZO, there is a standard amount of commission included in your short-term insurance policy premium. The commission either goes back to the insurer or to the appointed Intermediary for their services.

The amount claimed will be reduced in proportion to how much you are under-insured. The following sections are subject to the average clause: Fire, Buildings Combined, Business Interruption, Office Contents, Glass, Business All Risks, Accidental Damage and Electronic Equipment.

The following formula is used to calculate your payout.

- Insured Value / Actual Value x Claim Amount = Payable

- R400 000 / R500 000 x R30 000 = R24 000.

Excess is the first amount payable when you make a claim on your policy. The amount of the excess is specified in your policy. The higher your excess, the lower your monthly premium and vice versa.

No. The annual review will take into account the depreciated value of the vehicle. The most claims are paid for accident damaged vehicles and not complete losses. The costs of labour and parts increase with inflation. Both these factors will be taken into consideration, and the premium is therefore more likely to increase.