It guarantees in one only contract all the risks being more important for the item covered. It is also called combined insurance. The multi risk insurances are classified in Simple and Industrial insurances.
The basic kinds of Simple Multi risks are: Home Insurance, whose purpose is to provide a financial security to the tenant or owner before the financial consequences that may be generated by a damage affecting their properties or civil liability that it may involve; Communities Insurance, with a similar structure to the Home Insurance’s, but it refers to buildings, generally under the regime of community of owners; Business Insurance (retailers) and Offices, whose purpose is to guarantee to the insured the compensation for the loss caused by financial damages derived from the main risks affecting the sector of the corresponding market.
The Industrial Multi risks are addressed mainly to the specific sectors that have high amounts insured and to establishments running some kind of industrial activity or storages with a high amount insured. Although it can also include no industrial activities such as schools, hospitals, supermarkets and so on.