While home insurance covers the home furnishings, property insurance covers damage to property as such. You can insure your house, apartment, non-residential unit, garage, cottage, etc. Property insurance covers damage caused by natural disasters, fire and vandalism. The price of the property insurance depends on the extent of the insurance coverage and the amount of the insurance indemnity.
The list of risks covered by the insurance is determined by the insurance contract. Property insurance may cover damage caused by:
- fire, explosion, lightning strike or airplane crash,
- tap water,
- gale or hail,
- leaking water from the drain pipe,
- burglary theft,
- sudden landslide or collapse of avalanches, the weight of snow,
- fall of trees, poles and other objects,
- impact of the vehicle or its load,
- frost on the heating system and water supply system,
- shock wave caused by supersonic aircraft,
- breaking glass for a reason other than the insured risk.
- Broker will provide a property insurance, including home insurance at the customer’s request.