Property Insurance of Legal Entities

Insurance of legal property is a very widespread type of insurance. Almost each insurance company respecting itself tries to obtain the selling license for such policies. It is also connected with advantage of sale of such credit product type. In comparison with insurance of physical persons, each company or entity irrespective of patterns of ownership resorts to such type of insurance.

First of all, this results from the fact that property is used by rather large number of people not always interested in its safety. Whatever strict conditions on their operation from owners of the entities and the organizations are such factor as “not mine” has an effect.

It is possible to arrange a property insurance policy practically against all existing risks. But practice shows that the most widespread risks nevertheless are “water and fire effect” therefore these risks will be also the most expensive items in the insurance policy of the entity.

According to the basic insurance agreement the entities of the building, construction, engineering transport, furniture, the equipment, which are on balance, are usually insured. In cases of lease of some property or additional deliveries, the additional insurance is arranged.

In case of the conclusion of such agreements, the property value is determined by the mutual arrangement or involving the independent expert-appraiser.

The contract will be signed minimum for one month or average for one year. If the agreement is signed for longer period, every year a revaluation of insurable property is carried out with correction of its cost.

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