Voluntary insurance of property of citizens of the Russian Federation is one of the most effective ways to protect your interests if a person owns some property. However, this is not the only way to keep your own values in order, but in case of a disaster to get a certain amount. There are different conditions for property insurance, and specialized companies offer a huge number of rates. Some companies also provide the opportunity for the client to determine the features of a particular insurance contract. What is the essence of such cooperation?
What is it about?
In general, property insurance rates offered by modern specialized organizations imply the protection of some property. It can be paintings or buildings, goods or cars, investments. You can count on the compensation prescribed in the contract if an insured event has occurred. Features of this situation are also clearly indicated in the agreement concluded between the initiator of the contract and the policyholder. There is crop insurance, you can arrange protection of the goods.
In the classic version, the insured event is flooding, fire, a man-made disaster, theft or invasion of the elements. If a contract for insurance of farm animals has been concluded and the event considered in the contract has occurred, the owner of the livestock can count on monetary compensation. Since the owners who work with the company regularly send certain amounts to it, the insurer forms a fund. It is from him that the due is paid upon the occurrence of the corresponding case.
Some important points
In accordance with applicable law, personal property insurance is carried out under an agreement that any citizen of the country has the right to conclude, but no one has obligations to enter into such legal relations. But the legal entity must necessarily conclude an agreement. All cases when insurance of buildings, foundations and other property must be executed without fail is listed in the current laws of our country.
According to the concluded contract, the client may receive some compensation for losses. In some cases, it will be complete, but not always. A proportional or some specific amount is allowed. From practical examples: any person who owns a deposit in a bank is faced with insurance. It is no secret that under the state program all deposits are insured for 1.4 million, and when an insured event occurs, you can expect to return the amount within the specified upper limit. The term of property insurance is determined by agreement, for each case concluded individually. These may be short-term arrangements, and rather long ones.
About arrangement
An agreement stipulating the specifics of insurance of crops, housing, buildings or funds is concluded between the owner of this property and the company offering the corresponding service. In order for the contract to be valid, and the conditions to be fair, the property to be protected is evaluated before direct execution. The amount does not exceed the real value of the insurance subject. Take into account the values determined at the date when the agreement is concluded.
Typically, insurance of apartments, buildings, funds, crops is for an annual period or more, although in some cases you can contact the insurer for a shorter contract. For long-term cooperation, the agreement indicates the need for regular recalculation of the price of the insured objects. If you plan to insure your apartment, you need to understand that it is not necessary to insure the full cost - you can only arrange a part of the program. In addition, the same object can be issued under the insurance program at once in several companies, but compensation will still be within the real value of the property.
Insurance: legal entities
The work of legal entities with insurance companies has a number of specific features. In some cases, compulsory types of property insurance are relevant, the need for which is stipulated in existing laws. In addition, each company, organization has the right to conclude a voluntary insurance contract, if it considers it reasonable and profitable.
In the general case, compulsory types of property insurance are relevant when working with state property, with facilities that are assigned a higher than average hazard rating. It is necessary to take out insurance on valuables on collateral purchased on credit or received under a car leasing program. The conclusion of an agreement on various types of property insurance involves both a comprehensive service of all that is in the possession of a legal entity, and part of its property. The damage is compensated only if the company can prove that it is not guilty of what happened. In order for the cost of insurance property to be reimbursed by agreement, it is necessary to officially document the fact of the insured event.
Individuals: insure wisely
Many owners of buildings in the private sector are interested in whether it is beneficial to insure a private house against fire, whether it is worth registering for participation in such a program, and by what rules it will be concluded. Currently, the law does not oblige individuals to insure property of an obligatory procedure, at the same time, many banks will not give loans for transport or housing without signing an insurance contract.
Currently, the American, European practice of insuring a private house against fire, savings from the banking crisis and participating in other programs affects up to 90% of the population, while in our country no more than three percent of citizens participate in such programs on a voluntary basis. When concluding an agreement, the amounts are clearly prescribed, and payments upon the occurrence of an event should fully or partially cover the damage suffered by a person. The maximum possible compensation is determined by the property insurance value agreed upon upon conclusion of the contract, the price of the property itself and a number of other factors, including the limits on payments established by the insurance company itself.
We insure voluntarily
This type of property insurance assumes that a person, on his own initiative, enters into legal relations with an insurance organization. To regulate this sphere of social interactions in our country, several federal laws have been adopted, as well as a number of paragraphs of codes. In particular, in 2013, a legislative act on the insurance business entered into force. This document regulates the types of property insurance and the specifics of cooperation programs.
If a certain organization enters into a voluntary program on its own initiative, the expenses that it incurs in accordance with this participation should be included in the “Other” column. This includes both production and sales expenses arising from the insurance program. Collaboration under a voluntary insurance contract has clearly defined time limits. They are indicated in the conditions in the documentation confirming the legal relationship.
Insurance: mandatory
This form of protection of interests and property, as follows from the current legislation of our country, is relevant primarily for legal entities. Laws declare that compulsory insurance protects property received on lease under a leasing agreement, as well as state-owned, pledged or personal property. Damage is compensated in relation to either the whole complex of the insured property, or to its part - this follows from the terms of a specific contract.
The insurance contract must indicate typical risks that may be supplemented if there are prerequisites for this. Special insurance rules that passed state registration were adopted. This document indicates the conditions under which compulsory property insurance is carried out. The agreement should clearly stipulate liability in the event of an insured event, all monetary values, the result of the assessment, the procedure for payment in the event of an accident and the rules by which the insurance company compensates for the damage.
Insurance: monetary aspect
The agreement concluded between the owner of the property and the insurance organization clearly establishes the value of the property that is the subject of legal relations. It is determined by a number of factors. It is necessary to evaluate the value, take into account the degree of wear and indicate the list of risk factors. In addition, the amount that must be reimbursed upon the occurrence of an insured event, a deductible, is stipulated.
On many sites of insurance organizations online, you can use a calculator that gives a fairly accurate idea of the price of services. However, when concluding an insurance contract in relation to property online, it is usually impossible to register for participation in the program. You will have to visit the office where the manager will calculate the exact values based on the characteristics of a particular case. Different firms are ready to offer fairly significantly different conditions. There are several types of insurance policies. Every citizen, organization has the right to choose exactly the option that more satisfies the goals set for the client.
Insurance: following the rules
The current laws establish the rules that govern the legal relationship between the policyholder and the client. Some of them are applicable only to individuals, others are established for legal entities, but some are universal. The insurance rules registered in a special instance contain general provisions and an explanation of the terms used in this area, as well as prescribe the procedure for entering into legal relations. When concluding an agreement, the terms of cooperation, the objects to which it applies, and the tariffs at which the program is implemented are prescribed in the rules. All varieties of risks and a list of conditions under which a reimbursement is necessary must be indicated.
The rules established by laws and declared by agreement with a specific company must contain the franchise conditions, the principles by which the price of objects, the amount of damage, payments in case of an insured event are calculated. It is imperative to prescribe how these payments will be made, what responsibility lies with the parties by virtue of entering into legal relations, and in what order the conflicts arising from the interaction can be resolved. Also, specific rules by agreement may contain other provisions at the discretion of the client and the insurance company.
Property insurance: types
A modern approach to insurance services involves dividing customers into groups, objects into types, risks into types, and agreements according to the conditions. Different types of insurance are required to be registered in the license for activities executed by the insurer before starting work. Insurance is compulsory, voluntary, individuals, legal entities.
An alternative methodology for classifying insurance programs into types is to take into account the object of agreement. This can be a transport, building, agricultural facility, property of an ordinary person or belonging to a legal entity. Within the framework of the program, it is possible to insure a residential building and industrial, industrial or utility, including construction in progress. In agriculture, the practice of insurance of crops, machinery, livestock, plantations is widespread.
Property and home insurance
Most insurance companies currently offering their services have developed special programs to protect residential premises and property of people. This enables everyone who is interested to choose suitable conditions for themselves and protect their interests, as well as rely on compensation in the event of an insured event.
There are a number of preferential programs introduced in the scope of activities of municipalities. Thanks to them, insurance programs are available to the general public. This is done to increase the demand for insurance services and increase the security of the country's population. Many companies offering financial services are also the authors of specific insurance programs - in particular, on the transfer of property on leasing or issuing mortgages.
Real estate: top-level security
The insurance program, which implies certain immovable property as the object of the agreement, may be based on the structure, building, plot. You can enter into legal relations, the object of which is a whole complex or a small room. An important condition: this object must be owned by the person who initiates the interaction with the insurer, while there is a right to insure the property in full or to arrange an agreement for only a part.
Often, individuals make out insurance on a voluntary basis, but for organizations this measure is mandatory, which is stipulated in existing laws. The financial aspects of the arrangement, the method of refunding upon the occurrence of an insured event, are largely determined by the liability prescribed in the contract. The amount is always less than or equal to the valuation results when signing the securities. Legal relations may regulate the return of the full amount upon the occurrence of an agreed case, sometimes the damage is only partially returned. It is also subject to the terms of the contract governing legal relations.
Features of property insurance of individuals
This program has been designed to meet the interests of large groups. The initiative to conclude an agreement should come from the person who is responsible for the safety of the object and has property interests in relation to it. Currently, compulsory motor third-party liability insurance, established by laws applicable to all vehicle owners, is a good example of the legal relationship between an insurer and a client. This program is established by law as mandatory. By a similar logic, it is imperative to have to conclude an insurance contract for the protection of some agricultural objects - livestock, leased property.
Insurance: Important Categories
Currently, you can conclude an insurance contract in one of the categories established by law. The following are mentioned in regulatory enactments:
- investment investments;
- cargo
- credit programs;
- property of the house;
- citizen responsibility;
- risk of damage associated with entrepreneurial activity (including simple, disruption of obligations by counterparties);
- the property;
- transport.
Within each of the categories there is a division into subspecies, taking into account the particular case. Thus, transport insurance involves separate programs for personal cars and specific for railway transport, ships, aircraft and space.
Insurance and Risks
Typical risks indicated in the insurance contract:
- fire, lightning, blast wave;
- hurricane, storm, other catastrophes of an elemental nature;
- damage to boilers, gas storages, other mechanisms, machines;
- damage caused by water (including sewage, heating, fire extinguishing, water supply);
- intentional harm (including robbery, theft);
- damage to mirrors, windows, glass cases.
There are several other categories that an insurance company usually offers.
Most often, in practice, an agreement is concluded for the purpose of insuring property against death, damage. The contracts under which the citizen's liability is insured will be rather specific. The object here is not property, but the person’s responsibility for some property that this person will bear before someone when the fact of damage is revealed.
Insurance Relations: A One-Stop Approach
It has already been mentioned above that some legal relations under an insurance contract are relevant for legal entities, while others are suitable for individuals. Both that and other group were considered. There is also a third category of universal relations that insurance companies and all kinds of clients enter into, whether it is a private person or organization. (, ). , .