Property insurance

What you can protect with a property insurance policy

Immovable property (real estate)

• Residential real estate (apartment, house, cottage, including outbuildings)
• Commercial real estate (office building and premises, production premises, warehouse, retail building and premises, etc.)
• Interior finishing of premises (walls, windows, doors) and fixtures and fittings

• Furniture; audio, video and household appliances, etc.
• Computer and office equipment
• Production and process equipment
• Retail and restaurant equipment
• Raw materials and goods in a warehouse
• Vehicles while stationary

• Civil liability to third parties arising from the use of the premises. For example, liability insurance towards neighbours.

What hazards a property insurance policy protects against

Water damage. Water supply, sewage and heating pipes often fail at the worst possible moment. That is why flooding is a common incident that can affect anyone. Moreover, you may be flooded even if your own pipes are intact but your neighbours' turned out to be unreliable. To receive an insurance payout, you need to call an emergency commissioner to record the insured event.

Fire. Belongs to the group of main risks. Fire spreads very quickly and therefore causes serious damage to everything in its path. We offer the opportunity to insure your home and other property against fire arising from various causes. To receive an insurance payout, you need to call the fire brigade and an emergency commissioner in any case, so that they record the insured event.

Gas explosion. Such an incident usually has severe destructive consequences. It is also dangerous because of the release of harmful substances that can poison people. In the event of a gas explosion, you need to seek help not only from the fire brigade but also from representatives of gas companies in order to draw up a report and establish the cause of the explosion.

Earthquake. A relevant risk for the seismically hazardous areas of Kazakhstan; it is recorded by the state hydrometeorological service.

Other natural disasters. Hurricanes, hail, floods. As statistics show, these phenomena have increasingly been damaging people's property. An event such as a "natural disaster" is recorded by the state hydrometeorological service. In such a case, it is essential to contact the insurance company.

Lightning strike. Country houses or summer cottages not equipped with a lightning rod are most often exposed to this. If such a misfortune befalls you, all you need to do is call the insurance company.

Falling objects.This is one of the rarer incidents, but it still happens. The crash of aeroplanes and helicopters entails serious losses and damage. If this is your case, you need to call the police to the crash site to draw up a report.

Crimes. The insurance covers all possible ways in which intruders may damage your home and property. Burglary, as one of the most common incidents, theft, robbery and vandalism are included in this list. To comply with the terms of the insurance, you need to contact the police.

How the sum insured is determined

In property insurance, the sum insured is usually its market value. In some cases, a valuation may be carried out by an independent appraisal company.

How the insurance payout is calculated

The insurance payout is calculated and made in the amount of the actual damage caused to the property within the sum insured, less the deductible specified in the insurance policy.

How much does an insurance policy cost

The cost of property insurance depends on many factors, which are specified when filling in the insurance application. In some cases an inspection is required. If you are not sure that you can accurately determine the value of your property, an independent appraisal company may be involved in the valuation. When concluding a property insurance contract, the insurance company will, by agreement with you, set a deductible – that is, determine the amount of damage for which you yourself are responsible. The deductible is set either as a percentage of the sum insured or as a fixed amount. In any case, having a deductible in the insurance contract reduces the amount of the insurance premium you will have to pay, and also simplifies the formalities in the event of minor losses.