Today, almost all people use such a process as property insurance for legal entities . This concept is understood as a classic type of insurance that minimizes the existing risks of enterprises, and also allows organizations to conduct their activities stably. Thus, the role of insurance in a market economy plays a very large role , because almost all literate people always use this service.
Today , property insurance for legal entities is diverse, the difference in the types of insurance is what will be the list of covered risks and the percentage of insurance traffic. The legal entity itself can insure its property against all existing risks, as well as against some or a particular risk.
In general, property insurance of legal entities is a pretty good thing, since in case of any negative cases, for example, breakdown, theft or other force majeure situations, the insurance service will incur all losses and pay the amount indicated in the contract to the legal entity. If this procedure is carried out, the legal entity will be compensated for the damage that was caused as a result of fire, natural disasters, explosion, accidents, theft, intentional interference of a third party and so on. The most common type of damage is considered to be from water and fire damage.
The main objects of insurance can be - buildings, structures, decoration, engineering communications, production equipment, household equipment, household appliances, inventories and office equipment, and other objects can also be determined. The insurance amount to be paid is always determined by agreement between the insurer and the insured, but it is always limited by the book value of the property that is insured. In some situations, an expert assessment is possible.
Property insurance can be carried out both by a private insurance organization and by a state bank. In the latter case, there is such a thing as collateral insurance , where the property acts as a collateral. If the property of a legal entity is lost or damaged, the insurer must pay the entire insurance amount.
Motor insurance is also included in property insurance of legal entities. The insurance contract can be concluded both for 1 year and for 3 years. If a legal entity wishes to conclude an agreement for a shorter time, for example, for 3 or 6 months, then in this case they will find out all the reasons that prompt the client to conclude an agreement for such a period. Here, the insurance company begins to closely monitor both the insured and his insured property. And only after that, when the insurer recognized the reasons for concluding the contract for a short period as valid, but can sign the contract and conclude a deal with the insured.
If property insurance of a legal entity is 1 year, then in this case you can pay for insurance both in full and in installments. There are 2 options for paying by installments:
- the first payment is paid within 5 days from the date of signing the contract, and the second is paid no later than 3 months. Thus, here payment is made in equal shares in 2 stages.
- You can pay on a quarterly basis and for each payment, the amount can be negotiated separately.
Insurance can significantly help enterprises or legal entities, providing all payments in case of any troubles. And besides, insurance companies can significantly influence the activities of organizations and legal entities, helping them to conduct their activities evenly and correctly.