Insurance is designed for individuals and legal entities . Subject of insurance is movable and immovable property , which is owned by or for which the Insured is responsible. In mortgaged or pledged property insurance may be taken out in favor of the creditor.
Base insurance cover includes loss or damage resulting from fire (including the effects of firefighting), lightning, explosion or implosion, aircraft , parts or cargo, natural disasters (including storm, hail, torrential rain, flood, natural accumulation of snow and ice, freezing, falling trees , branches and other objects in consequence of a storm or rain), leak of water piping, impact of a vehicle or animal, as well as costs incurred by the Insured for limiting damage due to an insured event .
By arrangement coverage can be extended to:
- Sliding or collapse of earth layers, earthquake, short circuit and / or electric shock, malicious acts of third parties, loss or damage during transport when changingaddress;
- Cost of removal of debris, removal, protection and preservation of the insured property and/or loss of rental income;
- Broken glass permanently fixed with the possibility of coverage on an “all risks”;
- Civil liability to third parties (including damages caused to third parties as a result of fire, soaking at fire or flood of insured property which the Insured shall indemnify under tort).
Generally coverage is valid with respect to property located on the address specified in the policy .
The sum insured can be determined on the basis of actual or replacement value or based on accounting data (carrying or book value) for companies . The insurance premium is determined based on the rates of the insurer and depending on the insured property, the agreed scope of coverage and specific risk factors.