PROPERTY AND CONTENTS INSURANCE

With the property insurance and contents insurance through Insurance Broker Balkan you can receive:

• protection of your real estate and personal effects;

• coverage of a wide range of risks and an opportunity to choose according to specific needs and requirements;

• a cover from a reliable and responsible insurance company.

The insured party under the policy can be the owner, tenant or user of the property covered by the insurance. The insurance can also be signed in favor of a third person.

Property insurance for individuals provides protection of::

• residential, villa and economic (incl. of specific type – greenhouses, buildings for birds and animals breeding, etc.) massive, semi-massive and frame-built buildings, economic facilities as well as unfinished construction. The buildings include:

   • built in installations (electrical, gas, water-supply, heating, fire extinguishing, fire informing, climatic, ventilation, telephone and others), representing an inseparable part of buildings with the exception of end devices;

   • permanent flooring;

   • doors and windows;

   • permanent illuminants

• furniture and furnishings;

• household and electronic equipment;

• personal effects and belongings;

• food products and beverages;

• works of high artistic value: paintings, tapestries, icons and other works of art;

• appropriate necessary expenses for:

• clearing and transportation of the debris of the destroyed property;

• relocation, protection and preservation of the insured property;

• experts’, engineers’ and architects’ professional fees;

• hotel expenses (accommodation), if the house is completely uninhabitable.

Usually covered risks, distributed in the different companies in various packages:

• fire and consequences of extinguishing: including fire caused by short circuit, lightning, explosion, implosion, shock or falling of a piloted aircraft, its parts and/or load falling from it;

•natural disasters and accidents: storm, hail, torrential rain, flooding, freezing, earth layer collapse, damage from underground waters or sea waves, load from a natural snow or ice accumulation;

• water leaking from pipes and installations. Also covered are damages caused by wetting of property due to

   o forgotten faucets or taps;

   o failure of water-supply, heating, sewerage, air-conditioning or other type of installations;

• transportation of the insured property when changing the  address;

• damage or destruction due to motorized vehicle impact;

• burglary, including damage caused to doors, barriers and locks;

• burglary;

• malicious acts by third parties /vandalism/, arson;

• breaking of windows and damage to window frames;

• earthquake;

• third party liability for damages caused by the insured property as a result of a covered risk under the insurance contract.

• short circuit due to thunder or lightning;

• appropriate necessary expenses for:

   o clearing and transportation of the debris of the destroyed property;

   o relocation, protection and preservation of the insured property;

   o experts’, engineers’ and architects’ professional fees;

   o hotel expenses (accommodation), if the house is completely uninhabitable.

WHAT IS THE INSURANCE PERIOD?

The insurance period is 12 months or shorter – upon agreement between the parties..

INSURANCE SUM AND INSURANCE PREMIUM

• The sum insured is the amount for which property is insured and is determined in Bulgarian levs or foreign currency.

• The insurance premium is determined as a percentage of the sum insured under the existing Insurer’s  tariff

• The insurance premium is paid in a  lump-sum or in up to four installments

WHAT SHOULD YOU DO IN CASE OF AN INSURANCE EVENT?

• To undertake all necessary actions to reduce and limit the damage, save and preserve the insured property.

• Immediately to call 112  on the day of occurrence of the insurance event or on the day of being informed of this, detailing all the circumstances of which you are aware

•To inform Insurance Broker Balkan  and/or the Insurer a.s.p

Upon notification you must be ready to report:  the type of insurance event, the damaged properties, the extent of the damages and the insurance policy number