The PREMIUM Residential Buildings product offers a solution for administrators of residential buildings and associations of owners of residential and non-residential premises. It provides a wide coverage of subject matters of insurance and insured risks to which the owners of flats and non-residential premises in residential buildings may be exposed. The product is designed so as to comprehensively cover any damage to residential buildings based on the all-risk principle, which means that all risks that are not excluded shall be covered. The “all risk” philosophy of this product applies not only to property insurance, but also to liability insurance - the insurance covers liability for damage caused to third parties as well as to each other among owners. The objective of this design is to provide an effective solution to various claims and to minimize any rejections of claims for damages.
Property insurance is flexible in terms of a wide selection of subject matters of insurance and individual risks; it comprehensively covers any damage caused to residential buildings. In the event of total damage, the indemnity limit represents not only the costs of construction of a new residential building, but also the costs of purchase of a new flat, or flats of aggrieved clients in the given area, while observing the same type, kind, quality, and parameters as such flats had before the insured event. We accept under-insurance of up to 20% of the sum insured, which reduces cases of reduction of insurance indemnity due to insufficient sum insured. We offer a wide range of additional insurances, which in their basic coverage up to the limit of EUR 2,000 are already included in the price of insurance. The limit is automatically renewed after each insured event so that clients are continuously covered.
Machinery breakdown and electronics equipment insurance
As regards the technological parts of residential buildings, such as elevators, boilers, electronic entrance and garage gates, CCTV, etc., the insurance covers so-called technical risks. These are errors in designs and projects, defects of material, insufficient skills or negligence of operators, or failure of measuring, control, regulating or safety devices. The subject matter of the insurance indemnity is the costs of bringing the technical equipment back to its working condition, the costs of disassembly and reassembly of machines, transport of spare parts, etc.
The owners of residential and non-residential premises are liable for any damage resulting from the ownership of the given premises vis-à-vis third parties, but also vis- à-vis other owners of flats and non-residential premises in the residential building. The PREMIUM Residential Buildings product offers insurance coverage of these liabilities for damage with the option of setting-up individual indemnity limits and, in addition, provides owners of flats and non-residential premises in the residential building with the option of coverage of any damage and liability for damage resulting from household operation. With regard to association of flat owners it is possible to arrange coverage of liability for damage resulting from the performance of administration and for net financial loss.
The product includes free assistance services 7 days a week and 24 hours a day and up to the agreed limits provides coverage of costs of the technician's arrival at the site of the accident, the costs of removal of causes of the accident, the costs of small materials or protection of unsecured property and the costs of transport of movable property to a warehouse outside the place of insurance.
“ALL RISK” coverage in property insurance - it is an insurance principle that covers all risks except for those which have been excluded, and minimizes any issues in claim adjustment.
In the event of TOTAL DAMAGE, the costs of purchase of another flat in the given location are insured, not just the costs of its construction.
ADDITIONAL SUBJECT-MATTERS OF INSURANCE are insured up to a limit of EUR 2,000 and included in the basic insurance price.
The indemnity limit is AUTOMATICALLY RENEWED after each insured event.
FRANCHISE as a form of deductible - the insurance company adjusts the claim only from an agreed amount of the franchise and in payment of the claim it does not deduct the deductible.
TOLERANCE OF UNDERINSURANCE is up to 20% of the sum insured.
In LIABILITY insurance, it is possible to agree on an individual limit applicable to liability for damage vis-à-vis third parties and to liability for damage among individual owners themselves.
The product offer includes coverage of liability for damage resulting from HOUSEHOLD operation at the place of insurance.
As regards insurance of association of flat owners, we offer additional liability insurance for damage resulting from the PERFORMANCE OF ADMINISTRATION of residential buildings, with the option of additional insurance of net financial loss.
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