Zurich Pyme — Multi-Risk Insurance for Factories, Workshops and Warehouses
Technical parameters
Price and term
Price: calculated on turnover and headcount, the activity, the construction and age of the building, and the protection in place
Term: annual, renewed automatically
| What the policy includes | |
| Guarantee | What it covers |
| Fire, explosion, lightning, total ruin | 100% of the damage is covered |
| Extension of guarantees | Smoke and soot, weather and flood, vandalism, collision, impact and sonic waves, spillage of molten material |
| Water damage, with leak detection and repair | Plus compensation for the excess water consumed |
| All-risks material damage | A shelf of stock gives way and everything breaks: we pay for the goods and the fitting. This is what no list of causes covers |
| Machinery breakdown | Separate from computers: a production line, a machine, refrigeration plant |
| Computer breakdown | Dropped and broken: we repair it or pay for a new one |
| Theft and robbery | Building and contents, cash, theft from outside, robbery of customers and staff, replacement of keys and locks |
| Property liability | Harm to others caused by the building itself |
| Operating liability | Something gives way onto customers, equipment causes harm |
| Liability for accidents at work | Covers the worker, whether on the payroll or not. This is what sets Pyme apart from other multi-risk policies |
| Products and completed-work liability | And defence against the resulting claims |
| Loss of profits | From fire, water, electrical damage and all-risks. Either the loss is covered or a daily sum is paid |
| Costs following a claim | Fire brigade, salvage, clearing rubble, demolition, mud removal, refilling the extinguishing systems, forced vacation, professional fees and obtaining permits and licences |
| Services | 24-hour assistance, guarding after a claim, early return of the owner, connection to repairers and fitters |
| Legal defence | Spain and Andorra |
| Excesses — one for each guarantee | |
| Guarantee | Excess |
| Fire and related perils, other material damage | no excess |
| Extension of guarantees | €150 |
| Water damage | €150 |
| Glass breakage | no excess |
| Electrical damage | €150 |
| All-risks material damage | €600 |
| Theft and robbery | no excess |
| Property liability | no excess |
| Operating liability | no excess for claims above €200 |
| Loss of profits, standard | 24 hours |
| Loss of profits from electrical damage | 48 hours |
The make-up of the guarantees comes from the Zurich Pymes brochure of February 2024. The figures, excesses and structure come from a client policy in force: it is one specific contract, not a tariff. Your own sums and excesses are fixed in the particular conditions.
What this policy is
Zurich Pyme is the multi-risk policy for factories, workshops, warehouses and small firms with machinery and a process. It insures the premises, the fittings and stock, the machinery, liability to third parties and to your own workers, and the profit lost while the business stands still.
How Pyme differs from Comercios
Both are multi-risk policies and both insure premises and contents. The difference is
what each was built for. Comercios is for retail and services, where the main risk
is the premises and the stock. Pyme is for factories, workshops, warehouses and
anywhere with machinery, a process, and people inside that process.
Hence three things that Comercios lacks or carries more lightly:
- Liability for accidents at work. The worker is covered whether on the payroll
or not. Zurich calls Pyme the first multi-risk policy with the fullest liability cover
precisely because of this. - Machinery breakdown as a guarantee in its own right, not by way of all-risks.
- Loss of profits in four forms — from fire, water, electrical damage and
all-risks — with a choice between covering the loss and paying a fixed daily sum.
How the price is calculated
What counts: turnover and headcount, the activity, the construction and
age of the building, the year the electrics and plumbing were last renewed, and the
protection in place. Protection weighs heaviest: extinguishers, hydrants, sprinklers,
automatic detection by zone, a fire station within 15 km, protection on every accessible
opening.
A separate clause: the policy may be reviewed by Zurich’s engineering
department. For industry that is not a formality — the review produces adjustments.
On the excesses, worth reading
They vary by guarantee, and two work differently from what people expect. Operating
liability carries no excess at all where the claim exceeds €200. And on loss of
profits the excess is not money but time: the first 24 hours of interruption are not
indemnified, and 48 where the cause is electrical damage.
An example from a real policy
A gym in Playa de las Américas, six employees, annual turnover €300,000, rented
premises in a shopping centre, built in 2017, electrics and plumbing renewed in 2022. There
are extinguishers, sprinklers, private hydrants and automatic detection in the plant rooms;
a fire station within 15 km.
What is insured:
- building €65,205, contents and equipment €51,750;
- property, operating and accident-at-work liability at €450,000 each, with
€300,000 per victim; the combined limit for all liability covers in one claim is
€450,000; - loss of profits €720,000 for up to six months, and €50,000 where the
cause is electrical damage; - glass breakage €5,175, robbery of customers and staff €300, replacement keys
€600, theft from outside €5,000; - guarding after a claim €3,000, early return of the owner €600, legal defence
€6,000.
Note the proportion: some €117,000 of property, €450,000 of liability and
€720,000 of lost profits. In a room where people train, that proportion is the right
way round.
We will price it on your business
Send us the activity, the turnover and the headcount — that is enough. If you already hold a policy we will look at it too: what most often drifts is the description of the activity and the loss-of-profits sum.
Typical tasks that this policy solves
Agent's opinion The most underestimated part of this policy is not the sum insured on property but the loss of profits. Machinery is replaced in weeks; two months of a stopped factory are returned by no one — rent, wages and loans keep running while nothing comes in.
Second: liability for accidents at work. Many assume Social Security covers it. It covers the statutory benefits; a worker’s claim on top of them, it does not.
And third, technical: declare your protection honestly and keep it working. Zurich’s engineering department may inspect, and in industry it does.