As a property owner, real estate insurance is often the stumbling block that makes you wonder and worry. Feelings that match the stakes: the risk of damage, with potentially disastrous consequences. How can you best protect yourself against this risk, and above all, in the most efficient way possible? The guarantees vary according to the options available, and the contracts have many gaps that can lead to a lack of coverage at the time of a claim, which the owner will have to assume alone. It is from this observation that the PSPI real estate insurance package was born. A unique coverage, as Alexandre de Lisle, in charge of PSPI’s real estate department, explains to us.
1. What makes PSPI’s real estate insurance different?
As our clients are particularly demanding in terms of guarantees, we have created a complete coverage that could be compared to an all-risk insurance. The owner has a solid contract, and a single point of contact for all potential risks that may occur in and around his building. And this, anywhere in Switzerland.
2. What types of owners and types of buildings do you cater to?
All of them! From pension funds, to private individuals, to public authorities, whether they have a single building, a single villa or several, condominiums or rental properties. The clients who are interested in this type of solution are, for the most part, clients who have a “good father” management of their property and will always prefer a quality partner.
3. Let’s go back to the all-risk coverage. Can you illustrate this with some examples?
As far as claims on buildings are concerned, we insure the classic risks, fire, natural damage, water damage, theft and glass breakage. We automatically include earthquake in our coverage.
To this we have added more “special” risks, such as the insurance of machinery throughout the building, home automation or even gates.
The environment of the building is also covered, and I am thinking here of gardens, outdoor furniture and swimming pools.
Of course, Civil Liability (CL) is an integral part of the contract.
Please note that we work with developers and that we also offer construction insurance which will be granted preferential rates when switching to a building solution.
4. In addition to this 360° coverage, what other benefits does this real estate coverage bring ?
- First of all, the coverage / price ratio is excellent. Far from addressing only owners with a large real estate portfolio, we wanted to offer an efficient product for all owners while allowing them a fine control of the cost.
- Secondly, our reactivity on the offers which guarantees to the owners a much more important flexibility in the subscription, but also in the cancellation
- Thirdly, the insurer calculates the loss experience per building, and not for the entire master policy portfolio. Owners thus benefit from an individual policy with framework conditions and a single contact person dedicated to buildings.
For more information : https://www.pspi.ch/en/special-risks/real-estate/
Picture : Sébastien Mettraux (1984), Vision du paradis n°7 (Pully), Dernier paysage III 2012, Oil on canvas, represented by http://www.gowencontemporary.com/