Property is material values and things that are in use or possession of a legal or natural person. Usually, property law becomes interesting for citizens or any other entities in those cases when all kinds of unforeseen incidents occur that entail damage to personal items (theft, flooding, destruction, death, etc.).
Property insurance of enterprises. This action may apply to:
- Property of a state agricultural enterprise, state farm, collective farm.
- The property of a state enterprise (association, organization).
- The property of a public or cooperative organization.
- Property of the tenant and agricultural enterprise (does not include collective and state farms).
- Government building leased by private individuals or organization.
- Property of a religious organization.
- Property of a foreign individual or legal entity in the Russian Federation.
- Property of a foreign and Russian individual or legal entity abroad.
In those cases when it is necessary to insure property of enterprises on a voluntary basis, the following objects are not suitable: securities, cash, documents, structures, buildings and other types of property located in a natural disaster area.
Registration of goods, products, equipment, vehicles, agricultural equipment, facilities is included in property insurance of agricultural enterprises. The conditions for the presentation of property interests are similar to those under which ordinary insurance of property of enterprises takes place. However, insurance protection is provided only if the property is damaged inadvertently.
Basic rules for assessing damage:
- Moral costs should not be paid.
- Possible future gains and losses that have occurred as a result of damage are not taken into account in insurance payments.
- The owner has the right to claim the difference in value that arose during the validity of this policy.
- Not the price is determined, but the value of the goods at the time of damage, destruction, etc.
If the property of the enterprise is insured, it falls under the following valuation rules:
- Construction in progress - the costs of labor and material resources that were made at the time of this insurance are paid.
- Revolving fund - the size of payments is determined by the average market price, as well as the actual prices of the present production.
- Fixed assets - is determined by the maximum book value, which does not exceed the necessary replacement at the time of the death of the insured part.
- Products processed and in the process of production - the amount paid includes the cost of materials, labor and expended raw materials, which is determined by the average prices for these types of work.
Partial and full insurance is possible, which, respectively, is expressed as a percentage of the cost to be paid in unforeseen circumstances.
The general formula for determining damage is:
Amount of damage = cost as assessed by the insurer - amount of depreciation + expenses for saving the property - value of balances
Property insurance of enterprises pays special attention to compensation for losses in cases in which some of the property was preserved in a damaged or deteriorated condition. In this case, the policyholder can determine the cost of losses that occur during the sale of products of this quality. However, when the policyholder does not consider this property to be destroyed in full, the owner does not have the right to pay full compensation.