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Assekuranz Michel

Insurance, Germany, Bavaria, Munich

Assekuranz Michel - Your trusted partner in insurance solutions, providing personalized coverage and expert advice to protect what matters most.

About Assekuranz Michel

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Basics

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Founded
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Total Employees
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Employees on Linkedin
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Employees on OWCareers
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Main Office
Germany, Bavaria, Munich
Official Website
http://www.assekuranz-michel.de
Location Address Official Phone Email
Germany, Bavaria, Munich Germany, Bavaria, Munich **** ****
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FAQs – Assekuranz Michel

What does business property insurance cover?

It typically covers buildings, office furniture, equipment, inventory, and sometimes outdoor signage. Coverage may extend to losses caused by fire, storms, vandalism, explosions, and theft. Additional endorsements can include protection for business interruption, covering lost income due to a covered event disrupting operations.


How do insurance reserves help during economic downturns?

During economic downturns, insurers with strong reserves can continue paying claims without financial distress. Properly managed reserves protect policyholders from market fluctuations, ensuring stability in uncertain economic conditions.


How do co-pays work for prescription medications?

Prescription co-pays vary by drug tier, with generic medications having lower co-pays and brand-name or specialty drugs requiring higher out-of-pocket payments.


What is a Premium in Insurance?

A premium is the amount an insured person must pay for their insurance coverage. It can be paid annually, semi-annually, or monthly and depends on the type of coverage, the insured's risk profile, and other factors such as location and claim history.


What are some common risk mitigation strategies in insurance?

Common strategies include purchasing adequate insurance, implementing safety protocols, using risk-sharing agreements, transferring risk through contracts, and conducting regular risk assessments.


Can business interruption insurance cover supply chain disruptions?

Standard policies do not cover supply chain disruptions, but contingent business interruption insurance can cover supplier-related losses.


How does whole life insurance differ from term life insurance?

Whole life insurance lasts for your entire lifetime, whereas term life insurance covers only a specific period, such as 10, 20, or 30 years. Whole life policies also build cash value, while term policies do not. As a result, whole life insurance tends to have higher premiums than term life insurance.


Does insurable interest affect the amount of coverage?

Insurable interest affects whether a policy can be written, but it does not directly impact the amount of coverage. The coverage amount is typically based on the value of the insured asset or risk.


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