Commercial Property Insurance
ASK FOR AN OFFER
As soon as your request is received, we will analyze the risks associated with the property / activity of your company and provide you with a choice of insurance solutions from which you can choose the most suitable. Ask for an offer now, write to us: info@inpro.ee or send an inquiry using "request quote" button.
We offer an individual approach to each client, offering insurance solutions according to the needs, requirements and possibilities of each specific company.
WHAT IS COMMERCIAL PROPERTY INSURANCE
Corporate Property Insurance is a necessary characteristic of every business entity from an moderately sized office to a large factory. Corporate Property insurance manages risks related to a company’s tangible assets. In case business property is mortgaged, this insurance is also required by banks and other financial institutions. Also explore the Liability Insurance and Comprehensive Insurance solutions.
WHAT PROPERTY CAN BE INSURED
Under Commercial Property Insurance the following facilities can be insured: whole building or its part, processing areas, warehouses, ramps, transport junctions. In case a company rents their office, they may only insure interior finish. Insured Value equals to replacement value of subject matter insured that depends on its conditions and technical characteristics. Scope of insurance cover may vary: from minimum cover to full set of risks including additional risks.
EXTENDED COVER
Apart from real estate policy cover may be extended to include protection for furniture, office appliances, operating equipment, raw materials, manufactured goods etc. In this case insured value is determined by company fixed assets, which is provided to accountants, or by list of company effects to be insured that constitutes part of a policy.
Commercial Property Insurance also includes cover for stored goods.
Business Interruption Insurance
BUSINESS INTERRUPTION
Business Interruption insurance covers losses of the Assured when it is impossible to continue commercial activity of the company due to the following events:
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fire, stroke of lightning, gas explosion
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explosion of technological equipment working under pressure
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natural catastrophes
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damage to property caused by liquid discharged from heating, water supply, fire extinguishing & sewer systems
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malicious damage of third parties and running-down of a vehicle
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burglary and robbery
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the crash of an aircraft or its parts
Compensation under Business Interruption is paid only if insured property of the company is damaged or destroyed as a result of an insured event and it is paid by the Insurer. Business Interruption covers losses caused by discontinuance of activities during the maximum period indicated in the policy. Compensation paid according to the last finance reports of the Assured. Business Interruption insurance cover is offered only as part of Business Property Insurance Contract.
Apartment Assiciation Insurance
APARTMENT ASSOCIATION PROPERTY INSURANCE
Property insurance of the apartment association covers the parts and facilities of the building managed by the apartment association, and with liability insurance you can compensate the property damage caused by the apartment association to the management of the building and the territory belonging to the building to third parties and, if desired, to the apartment association members. As a rule, only the real part of the apartment is insured with ordinary home insurance (interior decoration of the apartment, floors, ceilings and non-load-bearing partitions, and internal communications to the connection point). In contrast, the foundation of the building; load-bearing walls and ceilings; roof; elevators; balconies; common areas and communications and technical systems (heating, cooling, ventilation, water supply, sewerage and gas supply system) are insured by apartment association insurance.
APARTMENT ASSOCIATION PROPERTY INSURANCE COVERAGE
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Fire insurance - fire, soot, smoke, lightning strike, explosion
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Pipeline leakage insurance - steam, gas, water or other liquid escaping from the piping, tank or equipment serving the building
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Storm insurance - storm, hail, trees or other objects that have fallen on the building due to a storm;
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Flood insurance - natural flood
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Vandalism insurance - wrongful actions of a third party and collision of a land vehicle
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Theft insurance - damage caused by the theft of the external parts of a building
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Glass insurance - breakage of glass surfaces as a result of an unexpected and unforeseen event
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Electrical failure insurance - indemnified damage to the insured electrical equipment, the direct cause of which is over-voltage, over-voltage or under-voltage caused by electric current, short circuit, electrical failure
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Total risk insurance - damage to the insured property caused by any unexpected and unforeseen event, which is not excluded by the insurance terms and conditions. The total risk insurance also covers losses arising from internal failures of the building's technical systems.
APARTMENT ASSOCIATION LIABILITY INSURANCE
Apartment association liability insurance indemnifies for damage that has occurred in the apartment association's area of responsibility, such as an accident in an elevator, corridor or around a house. Liability insurance covers both property damage and the necessary medical expenses arising from personal injury or damage to health. If desired, it is also possible to choose compensation for damage caused to the members of the apartment association by the apartment association, for example, water damage caused by the rupture of the pipeline under the responsibility of the apartment association or fire from technical systems.