Property Insurance against Named Perils

Named Perils

Commercial  property insurance that provides coverage for losses incurred to movable and immovable property from hazards or events named on the policy.

The coverage can be prepared either specifically for individual perils or for a group of perils.

Insured objects

can be movable and immovable property or stock in your ownership or in the ownership of a third person. [1] Production machines, technologies and fixtures and fittings of rented premises can also be insured.

Sum Insured

The sum insured is determined by the policyholder. In order to have the real value insured (without overisurance or underinsurance), the sum insured should match the value of the property insured either individually or as a group of insured items.

Sum Insured can be expressed as:

  • New replacement value
  • Current market value
  • Other price agreed in the contract

Basic and Additional insured perils

Basic Perils:

  • fire
  • explosion
  • lightning
  • collision of a manned airplane or its part or cargo

Additional Perils:

  • flood or innundation
  • windstorm
  • hail
  • landslide, fallen rocks or earth
  • avalanche
  • fallen trees, poles and other objects
  • heavy snow or ice

Bursts from pipes insurance

  • water leaking from a water-system facility or reservoir
  • water or steam leaking from a central heating, individual central heating or remote heating system
  • fluid leaking from solar systems or from cooling or air-conditioning facilities
  • extinguishing agent leaking from an automatic fire-extinguishing system (sprinkler)

If the insured object is a building, damage to piping, provided it resulted from excess fluid or steam pressure or from frozen water in the piping belonging to the building, shall be covered by the insurance, too.

Vehicle impact, Smoke and Supersonic wave

  • Road vehicle or rail vehicle crash
  • Smoke
  • Shockwave caused by supersonic aircraft

Burglary and Robbery Insurance

  • Burglary
  • Robbery
  • Damage, destruction or loss of the item insured in a burglary or robbery attempt

Vandalism Insurance

  • Malicious damage
  • Graffiti

Glass Insurance

This insurance covers loss or damage of fixed or embedded glass which needs to be replaced. Loss or damage could be caused by cracking, breaking (including wilful breaking by vandals) or by other forms of destruction.
Coverage also includes stuck security system sensors, foils, paintings or other insured glass decorations.

By special endorsement, the glass insurance can also include loss or damage to illuminated advertising lights and signs.

[1] On the basis of a Contract on absorption of assets or the right to use the assets.