Financial insurance

Voluntary property damage insurance

The voluntary property damage insurance involves indemnity to the Insured for destruction, damage or loss of the insured property as a result of occurrence of the event or set of events (risks insured) specified in the relevant insurance contract.

Виды страхования

Insurance risks

  1. Insured event is recognized as a loss, destruction or damage to property that has occurred as a result of the following events (on set or any combination thereof):
    1. fire, lightning, explosion. Fire means fire, which has originated outside the places specially designed for its lighting and maintenance, or spread beyond such places and is able to self-spread. Lightning means direct lightning strike onto the subject. Explosion means the sudden effects of forces, based on the aspiration of gases or vapors to expand. The explosion of the tank (boiler, pipeline, etc.) only takes place when its wall is destroyed and a sudden pressure alignment occurs inside and outside the tank. If an explosion inside the tank is the result of a chemical reaction, the damage due to reservoir damage should be compensated irrespective of whether it violated the integrity of the walls. Insurance coverage does not cover damage caused to the internal combustion propulsion resulting from an explosion in the combustion chamber, as well as damage caused to the elements of electrical switches as a result of internal gas pressure;
    2. natural disasters: flood, earthquake, volcanic eruption, the effect of underground fire, subsidence, landslide, rock fall, stone fall, pressure of snow masses, avalanche, storm (storm), whirlwind, tornado, mud flows, the effect of groundwater;
    3. flooding with water from the water supply, sewage, heating systems, caused by rupture of pipes. As an additional risk, the property insurance contract may cover flooding caused by operation of the automatic fire extinguishing system, except for its false alarm;
    4. collision with the vehicle;
    5. falling trees;
    6. acts of third parties: theft, robbery, intentional destruction (damage) of the property of others, disorderly conduct;
    7. fall onto the insured property of the manned aircrafts, their fragments or pieces, and loads thereon.
  2. By the agreement of the parties, the insurance contract may be extended with risk of equipment breakdown (failure).

Regarding the “Equipment breakdown (failure)” risk, the insurance coverage extends to insured events involving the loss of, or damage to, the insured machinery and equipment (or parts thereof) as a result of:

  1. effects of energy in the form of the electric current short circuit, overcurrent, voltage drop, air discharge;
  2. water-hammer effect;
  3. explosion of steam boilers, internal combustion engines and other energy sources;
  4. low temperatures;
  5. break of the ropes and chains, fall of insured objects, their collision with other items and other reasons of emergency nature.

Insurance premium

The insurance premium is determined based on the size of insured sum  and tariff rates. The insurance premium depends on the nature of the object of insurance and insurance risk.

Property insurance tariff rates

Name of risk group (type)Minimum rate, %Base rate, %Maximum rate, %
real estate (full coverage)0,0240,1598,089
fire, lightning, explosion0,0100,0683,478
natural disasters0,0050,0301,537
collision with a vehicle0,0010,0060,324
falling trees0,0010,0060,324
acts of third parties0,0030,0221,132
fall of manned aircraft on the insured property0,0010,0050,243

Movable property insurance tariff rates

Name of risk group (type)Minimum rate, %Base rate, %Maximum rate, %
movable property (full coverage)0,0500,18018,0
fire, lightning, explosion0,0220,0777,740
natural disasters0,0100,0343,420
collision with a vehicle0,0020,0070,720
falling trees0,0020,0070,720
acts of third parties0,0070,0252,520
fall of manned aircraft on the insured property0,0010,0050,540

Machinery and equipment insurance rates
“Breakdown” risk

Name of risk group (type)Minimum rate, %Base rate, %Maximum rate, %
Insurance of machinery and equipment against damage0,0500,18018,000


Insurance contract specifies a deductible, which type and amount are determined by the agreement between the Parties and set either a percentage of the insured sum, or in absolute terms.

Insurance rates