property insurance for business

Advantages of Property Insurance

  • Insurance risks

    Insurance covers damage resulting from natural disasters, fire, natural gas explosions, unlawful actions of third parties, and water damage.

  • Compensation of actual damage

    In the event of total loss of property, the insurance amount is paid; in case of partial damage, restoration costs are compensated—but not exceeding the insurance amount.

  • Compensation for restoration work

    Restoration expenses include costs for materials and spare parts, labor costs, delivery of materials, and preparation of project estimates.

The insurance covers the following risks

  • Natural disasters

    Protection from natural disasters such as floods, earthquakes, hurricanes, snowfalls, hail, lightning strikes, landslides will help cover the costs of repairing or replacing damaged property.

  • Fire or explosion

    Fire - fire that is capable of spreading independently outside of places specifically designed for its ignition and maintenance. Explosion - a rapidly occurring release of a large amount of energy, based on the tendency of gases or vapors to expand.

  • Illegal actions of third parties

    Loss or damage to insured property as a result of arson, breakage, spoilage, as well as due to other unlawful/illegal/criminal actions of third parties.

  • Water damage

    Physical impact on the insured property by water or liquid from plumbing, sewage, heating systems, fire extinguishing systems, and air conditioning systems located at the place of insurance, or water intrusion from neighboring premises not belonging to the Policyholder.

    Frequently Asked Questions

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