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Essential property insurance

Protect your business against natural disasters with the insurance plan we’ve designed in partnership with Generali.
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Protection for your SME

Against natural disasters
Ensure coverage for the building and/or contents of your business.
In a flash, without documents
Get insured in a few days after applying, without having to submit any documents.
With benefits for you
Secure a discount on your premium, depending on your options or any fire-protection measures in place.
Legal compliance
Fulfil the requirement for mandatory business insurance against natural disasters or civil liability.

Alpha Bank SA, in addition to its status as a credit institution, also acts as an insurance intermediary. Find out more about Alpha Bank's intermediation (only in Greek)

Discover the features

Find out all the features of the Essential property insurance.

What you get

Protection for your business property

Insure the building and contents of your business in case of damage from natural disasters, such as earthquake, fire or flood.

This way, you also comply with the legislation for mandatory insurance of businesses against natural disasters. According to Law 5162/2024, businesses with over €500,000 turnover must insure at least 70% of the value of their assets.

You may insure:

  • Buildings and building improvements
  • General contents
  • Mechanical equipment
  • Electrical equipment
  • Merchandise

Document-free insurance

Get insured simply by booking an appointment at a branch near you.

You then get a text message on the mobile you registered, to log into MyGenerali and receive your insurance policy.

What it covers

For main covers

The Essential property insurance covers you for:

  • Earthquake
  • Fire
  • Forest fire
  • Lightning
  • Extensive explosion
  • Aircraft fall
  • Storm – Tempest – Flood

For SMEs and tourism businesses

With the Essential property insurance you can insure:

  • Offices
  • Hotels and tourist accommodation
 

What’s the premium and how you pay it

Starting at €80/year

With the Essential property insurance you can insure the building and/or contents of your business starting at €80 a year. Your premium depends on:

  • The insured amount
  • The size of your building
  • Whether you’ve chosen the earthquake cover or not

By standing order

Pay the premium by standing order from the account you choose when you apply. Alternatively, you can set up a standing order on your credit card.

Payments can be made every 6 months or year based on your premium.

 

What to do in case of damage

Contact Generali within 8 days from the incident,  to report the damage to the building and/or contents of your business and make a claim:

Generali will send an assessor to assess the damage, if necessary, and will start the claim process.

Provided you send in any documents requested, you’ll receive a payout within 10 days.

Gain even more

With the Essential property insurance plan, you enjoy discounts from Generali and other benefits.

Up to 45% overall

Depending on your policy options, we offer cumulative discounts off your premium:

  • 10% off your entire policy depending on the excess you’ve chosen.
  • 10% off the earthquake cover, for businesses in Northern Greece.
  • 5% loyalty discount, if you have also insured your home or car with Alpha Bank.
  • From 5% to 35% off the property covers for insured amounts over €300,000.

Up to 30% additional discount

Secure up to 30% additional discount off main property covers if your business has fire-protection measures in place:

  • Smoke detectors
  • Fire cabinets
  • Sprinklers

Free advisory services

Along with the Essential property insurance, we offer you free advisory services to continuously improve and protect the insured property of your business and set your mind at ease.

What you need to get the Essential insurance

Have a look at the conditions for getting insured with the Essential property insurance.

Explore other options[

Find other products or services that may interest you.

Business4all

Business insurance to cover everything

For small businesses

Civil liability insurance

Business owner insurance

Business loan protection

Any questions?

Find the answers you need about the Essential property insurance plan.

What is the insurance excess?

It’s the amount you need to pay out of pocket in case of an insured risk.

Do any conditions apply for the building?

The building must have been built after 1960 and its minimum construction value must be:

  • €1,000-€1,250 per square metre
  • Up to €1,450 per square metre for very good quality construction

For conventional construction buildings:

  • The frame and roof must be constructed of reinforced concrete.
  • The internal and external walls must be constructed of brick.

For composite construction buildings made with non-combustible materials:

  • The external walls must be partly constructed of brick, stone or concrete, and partly with iron, wood or other materials.
  • The surface of the walls constructed of brick, stone or concrete must occupy over 50% of the total surface area.
  • The roof must be constructed of non-combustible materials.

Is it mandatory to insure the building even if I’m renting?

No. The owner of the building is responsible for its insurance coverage.

However, you are required to insure:

  • Moveable equipment (machinery, tools, computers, etc.).
  • Merchandise and raw materials.
  • Products in storage.
  • Business vehicles, provided they are not covered under another policy.
  • Building improvements made with own funds.

The building where my business is housed was built before 1960. What can I do in this case?

According to Law 5162/2024 for mandatory business property insurance, there is no relevant provision for buildings constructed before 1960.

Can I cancel my policy?

Yes. You can send a request by registered mail to Generali.

Within 30 days, the premium corresponding to the period from the moment you cancel your policy to the time it expires is returned, provided you have not used the insurance.

View all the FAQs

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