What is voluntary property insurance?
This is insurance of property interests against the financial consequences of loss, destruction, or damage to the insured property as a result of risks provided for by the contract.
What can be insured?
Buildings, premises, equipment, furniture, machinery, inventory, and other objects provided for by the contract.
Can business property be insured?
Yes. Buildings, premises, equipment, inventory, and other business assets may be subject to insurance.
Can leased property be insured?
According to the information on arsins.kg, property received under a lease, leasing, property hire, gratuitous use, and other legal grounds may be the object of insurance.
What does property insurance protect against?
Depending on the contract — against fire, lightning strike, explosion, water damage, natural disasters, burglary, robbery, armed robbery, unlawful actions of third parties, and other provided risks.
Can only one risk be chosen?
Yes, the contract may provide for one or a combination of chosen risks.
Does the policy cover all possible damage?
No. Coverage is determined by the contract and the chosen insured risks.
Does the policy cover theft?
Burglary, robbery, and armed robbery are listed among the insured risks that may be included in the contract.
How much does property insurance cost?
The cost is calculated individually.
What does the price depend on?
On the object of insurance, its value, the chosen risks, the term of insurance, the deductible, and other risk factors.
What is the sum insured?
This is the sum of money established by the contract, on the basis of which the insurance premium and the amount of a possible payment are determined.
Can a deductible be chosen?
The terms of the deductible are determined by the insurance contract.
What documents are needed?
The list depends on the object and the terms of the contract.
Is an inspection of the property required?
The need for an inspection depends on the object, its characteristics, and the insurance terms.
Can several objects be insured under one contract?
The possibility is determined by the terms of the contract and the list of property included in the insurance.
Insured event
What to do in case of property damage?
Take measures to prevent further damage, record the event, notify the insurance company, and act in accordance with the contract.
What to do in case of theft?
Contact law enforcement agencies and notify the insurer.
What to do in case of fire?
Call the relevant services, ensure the safety of people, record the occurrence, and notify the insurance company.
Can damaged property be repaired immediately?
If possible, it is advisable to agree on further actions with the insurer in advance.
Term of the contract
For what term is insurance taken out?
arsins.kg states that the contract is concluded for a term of up to 12 months or another term as agreed by the parties.
Can the insurance premium be paid in instalments?
The company's page states that the insurance premium may be paid in a lump sum or in instalments in the manner established by the contract.
The specialists of the Closed Joint-Stock Insurance Company "ARSENAL-KYRGYZSTAN" are ready to advise you on any questions
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