Property insurance in Russia over the past five years has begun to develop particularly rapidly. Voluntary insurance is becoming an increasingly popular service. Property insurance helps protect against circumstances if something happens to the property in case of fire, theft, natural disaster, etc. In this case, timely insurance can protect against financial losses.
Private individuals can enter into insurance contracts to protect apartments, houses, mortgage obligations, as well as title insurance contracts.
When insuring apartments, the protection provides for cases of fire, flooding, theft, robbery and natural disasters. Upon the occurrence of the insurance situation, the insurance company pays the costs of the home insurance policy. You can insure not the whole apartment, but its individual parts, for example, only decoration.
With home insurance , any structure in cities and rural areas falls under this concept. As in the previous case, you can insure any part of the property: landscape design, interior decoration, antiques, etc.
Mortgage insurance provides assistance in fulfilling credit obligations to the bank in cases of loss of habitual income in the event of disability, unforeseen expenses, loss or limitation of ownership of real estate.
Title insurance is intended to provide insurance coverage in cases of loss of property rights, if a transaction concluded by a private person is recognized unlawful due to events that were unknown to him at the time of the conclusion of the contract. This type of insurance is relevant in anticipation of the purchase of real estate.
Business is always risky. This is true for large industrial enterprises and for small firms. Unforeseen circumstances can cause significant damage to the enterprise, including the loss of business. Some of these risks are likely to not only be foreseen, but also taken measures to minimize them in a timely manner. Property insurance of enterprises and organizations (legal entities) can protect in cases of loss or damage to own and leased property and in other cases.
Property insurance of large, medium and small enterprises includes property insurance against fires and other hazards, insurance against losses from interruptions in production, machinery and other equipment from industrial breakdowns, construction and installation risks, cargo, title and agro-industrial insurance.
The objects of insurance are buildings, utility buildings, structures, construction in progress, materials, goods, raw materials, kiosks, tents, shops, stalls, decoration of premises and buildings, electronic equipment, electrical appliances, etc. Property insurance provides for cases of unlawful actions of third parties in the organization of fires, bays, explosions, as well as natural disasters such as lightning, rain, hail, tornadoes, earthquakes, etc.
Insurance provides coverage of possible risks and is designed to protect the assets of enterprises and organizations. When concluding insurance contracts, the specifics of the company’s activities and factors that may adversely affect the preservation of property of a legal entity are taken into account. The contract is concluded as part of the amount of funds that the company or company is willing to spend on insurance. It is allowed to pay insurance services by a lump sum payment or by installment system.
The amount of insurance is confirmed by property documents or a report of the expert commission.
Prior to the conclusion of the contract, the insurance company has the right to verify information about the property and assess the state of its actual value. At the same time, the insurers check the availability of property at the specified address, exposure to risks, purchase value, useful life and other aspects. The cost of insurance for legal entities is set individually. Usually it ranges from 0.1% to 6% of the value of the insured property.