"Own Business" voluntary property and liability insurance program
Who is it important for?
For individuals and legal entities, owners and managers of small and medium-sized businesses, owners or tenants of the property.
What will be insured?
The contract is entered into under two sections:
Under Section А. The property being in possession, usage, disposal (ownership, lease, rent, rental, leasing, adopted for commission, for storage or as a pledge, as well as acquired under loan, and which is to ensure the loan):
- cafes, restaurants, service stations, car washes, beauty salons; shops, boutiques, shopping kiosks, etc.
- production equipment, furniture, office supplies, etc.
Under Section B. Liability against third parties.
What is it insured against?
Under Section А. Loss or damage to property caused by fire, explosion, natural disasters; accident of internal systems, flooding from adjacent premises; breakage of window glass, mirrors and windows; vandalism, hooliganism, intentional destruction or damage to property; impact by vehicles, falling on the property of air vehicles or objects from them.
Break in production as a result of an insured event under SECTION A, which includes payment of the following expenses (for the period of up to 3 months after the insured event occurrence): rent, staff salaries, social charges, taxes and fees, utilities fees.
Under Section B. The fact of civil liability occurrence, for compensation for damage caused to property, life or health of third parties (victims).
How is the payment made?
Under Section А. In amount of actual damages (including depreciation), plus the cost of interruptions in production, but not in excess of the established insurance benefit.
Under Section B. 1) In case of damage to property - in amount of actual damage, but not exceeding the insurance benefit / limit of liability;
2) In case of damage to life / health of a third person in % of the insurance coverage:
- Death — 100%;
- Disability: I type — 100%; II type —70%; III type — 30%;
- Temporary disability — 1 MCI for each day of treatment but not more than 30 days of disability.
How to enter into the Insurance Contract?
Insurance Contract shall be entered into without inspection of the property for a period of 12 months. When insuring of movable property inventory list shall be attached to the Insurance Contract.
The Insurance Contract shall expire under two Sections at the same time from the moment the insurance payment in case of the first insurance event occurrence.
For your convenience, there are the following options for payment under the insurance policy:
- In cash or cashless payments;
- By lump-sum payment or in installments.
Why is it profitable?
- Easy and quick procedure of entering into insurance contract.
- Low cost of insurance.
- Reimbursement of expenses incurred during a break in production.
- Reliability of thed contract is ensured by international reinsurance and 15 years of experience of the IC "Centras Insurance".