Insurance of property of organizations is an important condition for the protection of objects on the balance sheet of the organization. This will help prevent insolvency in the event of an unforeseen fire, natural disaster or other events covered by the insurance policy.

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What is a property insurance service for legal entities, what are its types and the rules for risk compensation? The applicable tariffs and required documents will be discussed in this material.

What it is

Enterprise property insurance is a system of compensation for the cost of lost or damaged objects on the balance sheet of the organization.

The insurance program is subject to compensation for damage and loss of property owned by the organization.

Any objects included in the list of fixed and working assets can act in this capacity, including:

• production and storage facilities;
• offices and other administrative units, shops;
• garages and hangars, covered parking lots, metal boxes for storing material assets;
• office equipment;
• interior items, furniture;
• finished goods inventories and reserves;
• vehicles, etc.

Kinds

Insurance of legal entities depends on the type of property in respect of which material risks are subject to compensation:

• current and fixed assets listed on the balance sheet of the organization, objects provided with the right of operational management or economic management;
• property received for joint management, for rent, for storage or for processing, sale on the free market;
• property complexes, construction and installation materials, structures;
• agricultural crops used for business activities.

Objects that are located in territories threatened by destructive natural disasters or in special control zones with limited access (in areas of accidents, including nuclear power plants, etc.) and with unfavorable environmental conditions are not subject to inclusion in the insurance policy.

Structures recognized as unsafe, dilapidated, threatening collapse and destruction, defined as such on the basis of acts of local authorities monitoring the urban planning situation in the territory, are not insured.

It is typical for organizations to conclude insurance contracts for this type of compulsory insurance such as compulsory motor liability insurance. In this case, damage caused by the vehicle is subject to compensation within the framework of the civil liability of the vehicle manager by an employee of the organization for official purposes. It is also possible to purchase a voluntary package of insurance services such as CASCO to compensate for the risks of damage, theft, or theft of a vehicle owned by the company.

Basic Rules

It is possible to include in the policy the following insurance risks associated with loss or damage to the organization’s property:

• fire, explosion during combat operations, domestic gas, fuel boilers;
• in case of natural disasters - during hurricanes, earthquakes, rainstorms, landslides, drought, storms, etc.;
• accidents in heating and sewerage systems;
• actions of third parties, which are treated as unlawful acts in the case of theft or robbery, or committed due to negligence;
• falling of aircraft or their structural elements;
• collision with vehicles, impact or rollover, other collisions with moving and stationary mechanisms, for example, a tower crane;
• deliberate or accidental death of animals due to mass poisoning, slaughter or theft, in relation to individuals that are used for breeding in business activities.

The following organizations are not subject to insurance:

• funds in bank accounts;
• dams, dikes and other objects of social significance of increased danger and complex technological maintenance;
• real estate and individual buildings, including those acquired under a commercial mortgage agreement;
• asphalt roads, land reclamation structures, parking areas, etc.

Insurance is carried out on the basis of state-approved rules. Companies select the most favorable conditions for themselves and formulate offers for policyholders. A printout of the insurer's rules must be provided when issuing the policy. The policyholder is required to familiarize himself with them and sign confirming his agreement with the proposed rules.

How to insure real estate for legal entities

The process of obtaining an insurance policy is divided into the following stages:

1. Selecting an insurance company with more acceptable conditions and the availability of a product that applies to certain categories of property. For example, not all insurers are ready to cover risks associated with the destruction of livestock used in business activities.
2. Submitting an application for a policy. It must indicate exactly the characteristics of the property rights object without errors, this is especially important when filling out the form online, since in this case the completed data is not verified by the insurance agent.
3. Payment of insurance premiums on time. It should be noted that failure to provide payments within the period specified in the contract entails refusal to pay insurance compensation if risks occurred during this period.
4. Registration of an insurance event if it occurs. Submitting a notification to the insurer about the incident with a description of the circumstances and attaching supporting documents in the manner specified in the insurance rules of a particular company and the contract.
5. Determination of the amount to be reimbursed under the insurance contract if the insurer accepts the event as established in the policy. Establishing the amount of damage, its cost assessment.
6. Payment of insurance compensation. Carried out in cash or using the bank account details specified by the policyholder or beneficiary.
7. Termination of the insurance contract due to the provision of compensation.

A voluntary insurance contract is concluded upon a written or oral application from a representative of a legal entity. If the property consists of several parts, then it is necessary to draw up an inventory and attach it to the contract.

The policy specifies the maximum insured amount that will be paid upon the occurrence of an insured event in full (in case of destruction of property) or in part (in case of damage or other damage). The amount of the insurance premium is indicated, if there is a deductible, tariff rate, increasing or decreasing coefficients depending on the status of the property, the insurance period, usually taken equal to 1 year.

Required documents

To carry out insurance, it is necessary to confirm the legal status of the property and its ownership by the organization.

When contacting an insurer, you are provided with:

• constituent documents of the organization - charter, order appointing a manager authorized to enter into contracts on behalf of the company, decision on his election by the company's participants;
• power of attorney for a representative if he acts on behalf of the organization;
• expert opinion of the object subject to insurance or a certificate of its assessment;
• for real estate - an extract from the Unified State Register of Real Estate about the absence or presence of restrictions and encumbrances in force in relation to the property, the presence of an arrest, pledge, mortgage and other measures, a cadastral passport, which confirms the real value of the property based on market prices; for transport you will need a technical passport; for other objects - receipts and checks, passports with information about confirmation of ownership of the property;
• when purchasing MTPL and CASCO policies, it is required to provide documents for the driving license of persons authorized to drive official vehicles; their list must be submitted to the insurance company;
• It is also important for organizations to provide accounting and tax documentation on the placement of insured objects on the balance sheet and its accounting as fixed or working capital, etc.

For all objects subject to state registration, it is also necessary to provide title documentation. In relation to real estate, these are exchanges and other transactions with subsequent registration of property with the Rosreestr authorities.

Rates

The calculation of the tariff depends on several factors, on the basis of which the cost of insurance fees is estimated:

• cost of the insurance object, type;
• how long ago the property was manufactured, its condition;
• the presence of a deductible - a non-refundable amount upon the occurrence of an insured event;
• the duration of the contract is usually 1 year, with long-term insurance it is possible to conclude an agreement for a period of up to 15 years;
• an insurance program established by a specific company.

Any enterprise (organization, institution), regardless of its organizational and legal form, that owns property or has accepted it on lease, pledge, rent, commission, for sale, storage or on other legal grounds has the right to insurance of its property.

Property is a collection of material assets and things in the use (ownership) of the insured person. Property differs by type: movable and immovable property, property of agricultural and industrial enterprises. Movable property includes anything that can be moved. Real estate is static, for example: buildings, structures, land plots.

What is insured?

The object of insurance is loss, shortage or damage to certain property. Under an insurance contract, property can be insured in favor of the policyholder (beneficiary), who has an interest in the safety of this property based on a contract (law).

Enterprise property insurance is divided into types of property insurance:

• government organizations (enterprises, associations, institutions);
• state agricultural enterprises;
• non-governmental and public organizations;
• non-state agricultural enterprises and tenants;
• government buildings leased to organizations and individuals;
• religious organizations;
• foreign citizens on the territory of Russia.

Property insurance of legal organizations in the Russian Federation of the above types is carried out on a voluntary basis. The following property of enterprises is subject to insurance:

• structures, buildings, structures;
• equipment, inventory,
• transmission devices, power workers and other machines,
• vehicles, fishing (other) vessels, fishing gear,
• objects of unfinished production and capital construction,
• finished products, goods, raw materials, materials;
• farm animals, rabbits, fur-bearing animals, bee colonies and poultry;
• crop harvest;
• other property.

Property leased to other organizations can be insured separately from the general part of the property.

What is not insurable?

When insuring the property of legal entities, the following property is not covered:

• securities, cash, documents;
• earthworks, dams, dams, sidewalks, bridges, parking areas, asphalt roads and others;
• structures, structures and other property located in the disaster zone.

An exception to the last point is the case in which the insurance is extended for a new term even before the expiration of the previous contract, within the limits of the percentage of the value of the property that was specified in the original insurance contract.

Insurance risks

The property interests of business entities are manifested in the event of death, destruction (damage), flooding, theft, or destruction of property. It should be taken into account that property interests with which the insured event occurred unintentionally (accidentally) are subject to insurance protection.

Enterprise property insurance is carried out against possible damage (loss) in the event of damage or loss of property due to the following insured risks (insurance events):

• damage or destruction from explosion, fire, lightning strike;
• damage or destruction from a natural disaster (floods, earthquakes, hurricanes, rainstorms, snowfalls, mudflows and others);
• damage or destruction of manned aircraft, as well as their parts, from falling;
• death or damage from the destructive effects of water (accidents in plumbing, heating, fire protection, sewerage systems, penetration of water or other liquids from neighboring premises);
• destruction or damage from outside influence (collision by a vehicle or self-propelled machine, collapse of a water vehicle or self-propelled floating engineering structure);
• damage or destruction due to illegal actions of third parties (theft, robbery, robbery, robbery, arson, vandalism).

It is important to know!

Damaged is the condition of property in which there are no characteristic signs of its complete destruction or destruction, and which can be restored through repairs. Destruction, death, loss, flooding is the disposal of property from use. Theft means taking property by fraud, theft or robbery.

Insurance compensation

When insuring the property of legal entities, payment of insurance compensation can be made both to the policyholder and to his designated beneficiary (individual or legal entity). It is important to remember that the insurer becomes obligated to make an insurance payment only upon the occurrence of an insured event (incident). The beneficiary (policyholder) does not have any rights or grounds to receive insurance compensation before the occurrence of the insured event (incident).

"Zetta Insurance" offers insure the property of legal entities. The service applies to small, medium and large businesses and allows you to protect production and office property, communication and engineering systems from a number of unforeseen accidents.

Equipment insurance for legal entities compensates for power surges, man-made disasters, personnel errors and other factors that can destroy the material and technical base or render it inoperable.

We also offer compensation against the impact of a number of additional risks that any man-made accident inevitably entails. For example, this could be insurance against losses due to interruptions in production, etc.

A variety of programs and tariffs will allow you to choose the optimal protection for any business, regardless of its capitalization and specifics.

Benefits of capital goods insurance

• Flexible payment terms, individual protection program for each client.
• There is no need to make an additional assessment of the property when signing the contract.
• Efficiency. Payments are made within 10 days after signing the incident report.

Types of insurance in material production

We have tried to include the most common and most significant risks in our protection programs.

• Insurance of real estate of legal entities. Allows you to receive compensation for damage caused to industrial premises, administrative buildings and other types of buildings.
• Agricultural production insurance. Compensates for the costs of repairing agricultural equipment, real estate, etc. For this industry, this type of protection is very relevant, because the pronounced seasonality of the business does not allow for large financial reserves to cover unforeseen expenses throughout the year.
• Insurance against production interruption risks. Will allow you to compensate for the financial costs associated with the company's suspension of its activities.
• Compensation for damage from commercial crimes. Protects the business from losses caused by the malicious intent of third parties or employees of the enterprise.

Cost of property insurance for legal entities

You can find out how much the policy costs using the online calculator on our website. The most up-to-date and detailed information on business interruption insurance and other types of business protection is always available by phone.

In property insurance of legal entities, numerous and varied objects of property are accepted for insurance protection. It is quite difficult to compile an exhaustive list of this property. However, the objective need for property insurance is obvious, since extraordinary, destructive events cause enormous damage to its owners.

The main groups of property of legal entities usually accepted for insurance are as follows:

• 1. Own fixed assets and working capital (except for cash, securities and intangible assets) or owned by the insured with the right of economic management, operational management.
• 2. Property objects received for rent, processing, transportation, repair, commission, storage, for joint activities.
• 3. Property received for the duration of experimental work or research, for display at exhibitions, in museums, perennial shrubs and fruit and berry plantings.
• 4. Farm animals.
• 5. Construction and installation works.
• 6. Other property not specified in paragraphs. 1-5.

As a rule, the following property of legal entities is not accepted for insurance:

• - documents and business books;
• - cash and securities;
• - intangible assets;
• - dams, dams, bridges;
• - sidewalks, asphalt and concrete roads, platforms;
• - irrigation and reclamation structures;
• - property located in an area threatened by a natural disaster, which has been duly announced to the population and business entities, as well as property in emergency buildings and structures.

The specified groups of property of legal entities accepted for insurance differ in their generic characteristics, functional purpose, life (production) cycle, and features of the manifestation of risk events. Therefore, their insurance is carried out according to separate insurance rules. However, the organization of insurance relations, their economic and legal foundations are practically the same when insuring different types of property.

Insurance risks, which in various combinations are characteristic of most of these groups of property of legal entities, are included in the relevant insurance rules (contracts).

Such risks against which property is insured are damage, destruction (destruction), loss of property due to:

• - fire;
• - natural disasters (floods, droughts, frosts, earthquakes, storms, hurricanes, whirlwinds, tornadoes, tsunamis, hail, landslides, landslides, ground subsidence, etc.);
• - illegal actions of third parties, including theft and robbery;
• - crashes of aircraft or their debris;
• - explosion of steam boilers, fuel and gas storages, fuel and gas pipelines;
• - accidents of water supply, heating, sewerage systems;
• - flooding with groundwater;
• - collision with a ground vehicle;
• - unexpected power outage, water supply, heat supply;
• - internal fire of machines, equipment, electrical devices, electrical appliances.

Losses from damage, destruction (destruction), loss of property as a result of:

• - intent or gross negligence of the insured (beneficiary);
• - a defect in property that was known to the policyholder before concluding the insurance contract, but about which the insurer was not notified;
• - failure to comply with the requirements of regulatory documents, rules and instructions for the operation and maintenance of property;
• - use of the property for other purposes or in a state of alcoholic, narcotic or toxic intoxication;
• - natural processes (corrosion, wear, fermentation, rotting, deterioration, etc.) caused by the internal properties of property objects.

In addition, damage caused as a result of force majeure events (force majeure circumstances) is not compensated, unless otherwise provided by the insurance contract.

Such force majeure events include:

• - exposure to a nuclear explosion, radiation or radioactive contamination;
• - military operations, as well as maneuvers or other military events;
• - civil war, civil unrest of all kinds or strikes;
• - confiscation, requisition, arrest or seizure and destruction of property by decision of public authorities, unless otherwise provided by the insurance contract.

The objects of property insurance are the property interests of the insured (beneficiary) associated with the ownership, disposal, use of property and the need for compensation for damage in the event of insured events.

The subjects of insurance are insurers, policyholders, and beneficiaries.

In this case, the property insurers are legal entities.

The beneficiary is the person in whose favor the property insurance contract is concluded.

An insurance contract is concluded on the basis of a written or oral application and the submission by the insured of an inventory of the property to be insured in the form established by the insurer.

In the property inventory, insurers provide for the need for the policyholder to provide the following information in various combinations: name of the property; type, brand or other important characteristics of the property (for example, the building material from which the walls of a residential building or building for other purposes are erected, etc.); year of production (commissioning of the facility); the number of units of this property; insurance (actual) cost of a unit of an object and the entire quantity; the insured amount of the unit and the entire quantity; location of the property (territory of insurance coverage).

Before concluding an insurance contract, the insurer has the right to verify the accuracy of the information presented in the inventory of property and other data about the objects, their operating conditions, and, if necessary, appoint an examination to assess the condition and actual value.

The insurer checks, in particular, the availability of property in the place indicated in the inventory; ownership of property by right of ownership, full economic management, operational management or other rights; conditions for storing property; qualifications of service personnel; exposure of property to the risks of losses from fire, natural disasters, flooding, theft and other adverse events, book value, residual value, purchase price; service life, etc.

When concluding a property insurance contract, the policyholder is obliged to:

• - inform the insurer of all circumstances known to him that are important for determining the degree of probability of occurrence of insured events and the amount of possible losses; if, after concluding an insurance contract, it is established that the policyholder provided deliberately false information to the insurer about such circumstances, then the insurer has the right to demand that the insurance contract be declared invalid and compensation for losses;
• - inform the insurer about the already concluded insurance contract for the same property against the same or other risks with another insurer, as well as about damage to property caused by previously occurring insured events and the insurance compensation received. If, after the entry into force of the insurance contract, the circumstances taken into account when concluding the contract have changed, which has increased the likelihood of an insured event occurring, the policyholder is obliged to inform the insurer about this. In this case, the insurer has the right to demand that the policyholder change the terms of insurance or pay an additional amount of the insurance premium. If the policyholder fails to notify the insurer of a change in risk circumstances or objects to changes in the terms of insurance and additional payment of the insurance premium, the insurer has the right to terminate the insurance contract. In this case, the policyholder compensates for the insurer's losses caused by termination of the insurance contract.