Property insurance
10 July 2011 Reading: 2 min Views: 5 484
Voluntary Property Insurance, Property Insurance, Property and Casualty Insurance
Consumers call this type of insurance as they see fit, but the correct name is voluntary property insurance. Property insurance has as its main purpose the protection of the property of both legal entities and individuals against damage and destruction. Undoubtedly, there is no more effective or alternative tool for protecting property interests than property insurance. Experts strongly recommend concluding a property insurance contract and thereby ensuring the safety of your property.
Insured events under a property insurance contract
- Natural disasters
- Earthquake
- Unlawful acts of third parties
- Bursting of water supply and other systems
- Fire, lightning strike, explosion
the following may also be covered
- Business interruption
- Additional expenses
- Property in transit
- Terrorism and sabotage insurance
What property can be insured
Any movable and immovable property, except for:
- Cash and securities;
- Precious metals in bullion;
- Antiques;
- Land;
- Nuclear energy risks.
Sum insured
• Replacement (reinstatement) value of the property. • Market or appraised value of the property.
Territory of property insurance
The territory of insurance is limited to the borders of the Republic of Kazakhstan and must include a specific address.
Property Insurance Rules
Property insurance is carried out on the basis of the property insurance rules.
What to do when an insured event occurs
1. Notify the insurance company of the damage within 3 days
2. Draw up an assessment report on the damaged property
3. Submit all required documents to the insurance company in accordance with the insurance contract
If you have any further questions, please consult the insurance brokers and agents listed in the association's registry.
