What is property insurance?
Voluntary property insurance is a type of insurance that allows you to protect property from the financial consequences of its loss, destruction, or damage.
The insurance contract specifies the specific objects of property, the sum insured, the chosen insured risks, the term of the contract, and other conditions.
The Closed Joint-Stock Insurance Company "ARSENAL-KYRGYZSTAN" offers property insurance on the terms determined by the insurance contract and the chosen set of risks.
What property can be insured?
Depending on the contract terms, various property may be subject to insurance, including:
- buildings;
- structures and utility buildings;
- individual premises;
- objects under construction;
- interior and exterior finishing;
- furniture and interior items;
- electronic equipment and office equipment;
- production and technological equipment;
- engineering networks and communications;
- inventory and material assets;
- advertising structures;
- other property provided for by the insurance terms.
- Special insurance conditions apply to certain categories of property.
What risks does it protect against?
Depending on the chosen terms, the contract may provide for insurance against one or several risks:
- fire, lightning strike, explosion;
- water damage;
- natural disasters;
- burglary, robbery, armed robbery;
- unlawful actions of third parties;
- glass breakage;
- collision with ground vehicles;
- falling aircraft;
- collision with water vessels;
- falling objects.
- The list of risks must be checked directly in the insurance contract.
How is the sum insured determined?
The sum insured is determined by the insurance contract.
It is the basis for determining the insurance premium and a possible insurance payment.
According to the information on arsins.kg, the sum insured must not exceed the actual insurable value of the property on the day of concluding the contract.
What does the cost of the policy depend on?
The cost of property insurance depends on:
- the type of property;
- its value;
- the chosen insured risks;
- the term of insurance;
- the contract terms;
- the presence and amount of a deductible;
- other factors affecting the degree of insurance risk.
- The insurance tariff under a specific contract is determined taking into account the base tariff rate and risk coefficients.
Term of insurance
The property insurance contract is concluded for a term of up to 12 months or for another term as agreed between the policyholder and the insurer.
How to take out property insurance?
To apply, it is necessary to:
- determine the property to be insured;
- provide information about the object;
- determine the insured risks;
- agree on the sum insured;
- determine the contract terms;
- obtain a calculation of the insurance premium;
- conclude the insurance contract.
Can only part of the property be insured?
Yes, the contract specifies the specific objects of property subject to insurance.
Can only individual risks be chosen?
Yes, the list of insured risks is determined by the contract terms.
Can equipment be insured?
Yes. Production and technological equipment and office equipment are among the types of property that may be provided for by the contract.
How much does property insurance cost?
The cost is calculated individually taking into account the object, risks, sum insured, and other conditions.
For what term is the contract concluded?
For a term of up to 12 months or another term as agreed by the parties.
The specialists of the Closed Joint-Stock Insurance Company "ARSENAL-KYRGYZSTAN" are ready to advise you on any questions
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