1. THE SUBJECT OF THE AGREEMENT
1.1. According to this contract, the Insurer undertakes, upon the occurrence of one of the insured events stipulated in the contract, resulting in the loss, destruction, shortage or damage of the property specified in the contract, hereinafter referred to as the "Insured Property", to pay the Policyholder the insurance indemnity specified in the contract within the amount specified in clause 1.2 (sum insured), and the Insured undertakes to pay an insurance premium in the amount of rubles in the manner and within the time limits stipulated by the contract.
1.2. The object of insurance is the following Insured property: .
2. RIGHTS AND OBLIGATIONS OF THE PARTIES
2.1. The following events are recognized as insured events under this contract:
- fire (accidental occurrence and spread of fire in an object, inside an object or from object to object), lightning strike, gas explosion;
- collapse, landslide, storm, whirlwind, hurricane, hail, downpour, flood, tsunami, mudflow;
- falling flying objects or their fragments and other objects;
- explosion of boilers, fuel storage facilities and fuel lines, machines, devices;
- accidents of plumbing, heating and sewer systems;
- collision, collision, impact, fall, overturning;
- outflow of groundwater unusual for the area, subsidence and subsidence of soil, duration of rains and heavy snowfall;
- penetration of water from neighboring foreign premises;
- unintentional glass breakage;
- burglary, robbery, robbery.
2.2. The events provided for in clause 2.1 of this contract are not recognized as insured events if they occur:
- as a result of an intentional act (action or inaction) committed by the Policyholder that caused the occurrence of an insured event;
- as a result of the Insured driving a vehicle under the influence of alcohol, narcotic or toxic intoxication or transferring control to a person who is in a state of alcoholic, narcotic or toxic intoxication, or to a person who does not have the right to drive this vehicle;
- as a result of exposure to a nuclear explosion, radiation or radioactive contamination;
- as a result of hostilities, as well as maneuvers or other military measures;
- as a result of civil war, civil unrest or strikes.
2.3. In the event of an insured event that caused the death, loss, shortage or damage to the insured property, the Insurer is obliged to pay the insurance indemnity to the Insured within days after receiving and compiling all the necessary documents specified in this contract.
2.4. Insurance indemnity is paid in the amount of the part of the losses incurred by the Insured, equal to the ratio of the sum insured to the insurance value. The insurance indemnity cannot exceed the insurance value. Losses are real damages, i.e. expenses that the Insured has made or will have to make to acquire or restore the lost, lost or damaged insured property.
2.5. In the event of the death of the Insured, who did not have time to receive the insurance compensation due to him, the payment is made to his heirs.
2.6. The insurer is obliged to issue an insurance policy to the Insured within days from the date of conclusion of the contract.
2.7. In case of loss during the validity period of this agreement of the insurance policy by the persons specified in clause 2.6, they are issued a duplicate of the policy on the basis of a written application. After issuing a duplicate, the lost policy is considered invalid, and insurance payments on it are not made. In case of repeated loss of the policy during the term of the contract by the persons specified in clause 2.6, they pay the Insurer a sum of money in the amount of the cost of producing the policy.
2.8. The insurance premium is paid by the Insured in installments in the order of calculation. The premium is paid monthly no later than the day of each month within months in equal installments of rubles. The policyholder may, at any time, pay the remainder of the premium or contribute monies against subsequent premium periods.
2.9. If the insured event occurred before the payment of the next insurance premium, the payment of which is overdue, the Insurer has the right to deduct the amount of the overdue insurance premium, the penalty and interest for delay established by paragraphs. 4.3 and 4.4 of this agreement.
2.10. The Policyholder has the right to receive information from the Insurer regarding its financial stability and which is not a commercial secret.
2.11. The Policyholder is obliged to immediately notify the Insurer of the circumstances that become known to him that change the degree of risk of an insured event (change of the owner of the property as a result of alienation, leasing, storage, pledge, change of location, re-equipment, etc.).
2.12. The Policyholder, within days after he became or should have become aware of the occurrence of an insured event, is obliged to notify the Insurer of its occurrence.
2.13. Failure to fulfill the obligation stipulated by clause 2.12 of this contract gives the Insurer the right to refuse to pay the relevant part of the insurance indemnity if the Insurer did not know and should not have known about the occurrence of an insured event and the lack of information from the Insurer did not allow him to take real measures to reduce losses.
2.14. The policyholder is obliged to comply with the established rules for the operation of the insured property and ensure its safety.
2.15. Upon the occurrence of an insured event, the Insured is obliged to take reasonable and available measures in the circumstances to reduce possible losses, including reporting to the competent authorities (police, state supervision, emergency services, etc.) about insured events. When taking such measures, the Policyholder must follow the instructions of the Insurer, if they are communicated to him.
2.16. The Insurer shall be exempted from payment of insurance indemnity in whole or in part if the indemnified losses have arisen as a result of the fact that the Insured has deliberately failed to take reasonable and accessible measures provided for in paragraphs. 2.14 and 2.15 to reduce possible damage.
2.17. The expenses provided for in clause 2.15 in order to reduce losses, necessary or incurred to fulfill the instructions of the Insurer, must be reimbursed by the Insurer in proportion to the ratio of the sum insured to the insured value, regardless of the fact that, together with compensation for other losses, they may exceed the sum insured. Such expenses shall be reimbursed even if the corresponding measures have been unsuccessful.
2.18. The Insurer that has paid out the insurance indemnity shall, within the limits of the amount paid, have the right to claim that the Insured has against the person responsible for the losses indemnified by the Insurer.
2.19. The Policyholder is obliged to hand over to the Insurer all documents and other evidence and to inform him of all the information necessary for the Insurer to exercise the right to claim against the person responsible for the losses.
2.20. If the Policyholder has exercised its right to claim against the person responsible for the losses indemnified by the Insurer, has waived this right or the exercise of this right has become impossible due to the fault of the Policyholder, the Insurer shall be released from payment of the insurance indemnity in full or in the relevant part and shall have the right to demand the return of the overpaid indemnity.
3. TERMS OF PAYMENT OF THE SUM INSURED
3.1. Upon the occurrence of an insured event provided for in clause 2.1, the Insured shall submit:
- policy;
- application for payment of insurance compensation;
- identity document;
- a document confirming the interest of the Insured in the preservation of the insured property.
3.2. In the case when the insurance payment is made to the heirs of the Insured, the heirs represent:
- policy;
- identity documents;
- a document confirming the occurrence of an insured event, or a certified copy thereof;
- certificate of the registry office or its certified copy of the death of the Insured;
- a document confirming the interest of the Insured in the preservation of the insured property;
- documents certifying the entry into the right of inheritance.
3.3. Insurance payment is made after drawing up the insurance act. The insurance act is drawn up by the Insurer or a person authorized by him. If necessary, the Insurer shall request information relating to the insured event from the competent authorities, and shall also be entitled to independently determine the causes and circumstances of the insured event. The insurance act must be drawn up no later than days after the submission by the Insured or his heirs of the documents provided for in paragraphs. 3.1 and 3.2 of this agreement.
3.4. If, upon the occurrence of an insured event, a criminal case, civil proceedings or proceedings on the imposition of administrative penalties are initiated, the Insurer has the right to postpone the decision on the payment of the amounts due until the relevant decision is made by the competent authorities.
3.5. The Insurer has the right to check any information communicated to it by the Insured and his heirs, as well as information that has become known to the Insurer, which is related to this contract. The Policyholder and his heirs are obliged to give the Insurer the opportunity to freely verify information and provide all necessary documents and other evidence.
3.6. The Policyholder and his heirs are obliged to keep the damaged property, unless it is contrary to the interests of security and public order, until it is examined by the representative of the Insurer in the form in which it turned out after the insured event.
3.7. In case of violation by the Insured or his heirs of the obligations provided for in paragraphs. 3.5 and 3.6 of this agreement, the information provided by them is considered untrue, and the information that they refuse to provide is considered to be true.
4. RESPONSIBILITIES OF THE PARTIES
4.1. The party that has not fulfilled or improperly fulfilled its obligations under this agreement is obliged to compensate the other party for the losses caused by such non-performance.
4.2. For delay in payment of the insurance indemnity, the Insurer shall pay to the recipient of the insurance indemnity a fine in the amount of % of the insurance indemnity for each day of delay.
4.3. For delay in making the next insurance premium, the Policyholder shall pay to the Insurer a penalty in the amount of % of the amount of the unpaid insurance premium for each day of delay.
4.4. A party for non-payment or late payment of amounts due to the other party under this agreement must pay interest to the other party in the amount of % of the amount due for each day of delay.
4.5. The collection of penalties and interest does not relieve the party that violated the contract from the performance of obligations in kind.
4.6. In cases not provided for by this agreement, property liability is determined in accordance with the current legislation of the Russian Federation and the Rules of Insurance.
5. AMENDMENT OF THE AGREEMENT
5.1. In the event of reorganization of the Insured - a legal entity, its rights and obligations under this contract shall be transferred to its successor only with the written consent of the Insurer.
5.2. When the rights to the insured property are transferred from the Insured to another person, the rights and obligations of the Insured under this contract are transferred to the person to whom the rights to the property have been transferred, subject to a written notification by this person to the Insurer within days from the date of transfer of rights, except for the case provided for in paragraph .7.5 of this agreement.
5.3. The Policyholder, in agreement with the Insurer, has the right to increase the sum insured. In this case, an additional insurance premium is payable in the amount and in the manner prescribed by the agreement of the parties.
5.4. The Policyholder, in agreement with the Insurer, has the right to reduce the sum insured. In this case, the overpaid part of the insurance premium shall be refunded to the Policyholder in proportion to the reduction. If the insurance premium in the new amount is not fully paid, then the parties make changes to the contract regarding the procedure for payment and the amount of regular contributions.
5.5. The insurer, notified of the circumstances specified in clause 2.11 of this contract, has the right to demand a change in the terms of the contract, including the payment of an additional insurance premium in proportion to the increase in the risk of an insured event in accordance with the Insurance Rules. The insurer is not entitled to demand amendments to the contract if the circumstances specified in clause 2.11 of the contract have already disappeared.
5.6. This agreement may also be amended by written agreement of the parties, and in addition, in other cases provided for by law.
6. TERM OF THE CONTRACT
6.1. This agreement is concluded for a period of one year and comes into force from the moment of signing.
7. TERMINATION OF THE AGREEMENT
7.1. The insurance contract is terminated if the parties fulfill their obligations under the contract in full. The expiration of the term of the contract does not terminate the obligations of the party if it has not fulfilled them during the term of the contract.
7.2. Obligations under the contract are terminated ahead of schedule in the cases provided for in clause 2.2 of this contract.
7.3. Obligations under the contract are terminated early in the event of the death of the Insured (if the Insured is an individual), liquidation of the Insured (if the Insured is a legal entity) before the occurrence of an insured event, except for the case provided for in clause 5.3 of the contract.
7.4. Obligations under the contract are terminated early in the event of reorganization of the Insured - a legal entity, if the Insurer has not agreed to the transfer of the rights and obligations of the Insured under this contract to his successor.
7.5. Obligations under this contract are terminated in the event of a forced seizure of the insured property, when the possibility of such seizure is provided for by law, or in the event of the Insured's refusal of ownership of the insured property.
7.6. Obligations under the contract are terminated ahead of schedule in the event of the loss of the insured property for reasons other than the occurrence of an insured event.
7.7. The Policyholder has the right to early terminate the contract with a mandatory written notification of the Insurer no later than days before the date of the proposed termination.
7.8. The Insurer has the right to terminate the contract with the written consent of the Insured by notifying the Insured in writing no later than days before the date of the proposed termination.
7.9. The Insurer has the right to terminate the contract ahead of schedule if the Insured fails to pay the next installment of the insurance premium within days after a written warning to the Insured.
7.10. The Insurer has the right to early terminate the contract in case of participation of the Insured or his heirs in a completed or incomplete offense aimed at causing losses in the insured property.
7.11. If the Policyholder fails to fulfill the obligation provided for in clause 2.11, and also if the Policyholder objects to changing the contract in the case provided for in clause 5.5, the Insurer has the right to terminate the contract by notifying the Policyholder. The insurer is not entitled to demand termination of the contract if the circumstances provided for in clause 2.11 have disappeared before the occurrence of the insured event.
7.12. In case of early termination of the contract, the premium paid to the Insurer shall not be returned to the person who paid it.
7.13. In cases of early termination of the contract for the reasons specified in clause 2.2 of this contract, as well as in cases provided for in clauses 7.10 and 7.11 of the contract, the Policyholder shall pay to the Insurer the expenses incurred by the latter in the course of drawing up the insurance act or in the clarification of the circumstances provided for in the above paragraphs.
7.14. Obligations under this agreement are terminated in other cases provided for by law.
7.15. Termination of the agreement does not release the parties from liability for its violation.
8. PRIVACY
8.1. The terms of this contract, additional agreements to it and other information received by the Insurer in accordance with the contract are confidential and not subject to disclosure.
9. DISPUTES RESOLUTION
9.1. All disputes and disagreements that may arise between the parties on issues that have not been resolved in the text of this agreement will be resolved through negotiations on the basis of current legislation.
9.2. If disputes are not resolved in the process of negotiations, disputes are resolved in court in the manner prescribed by applicable law.
10. ADDITIONAL TERMS AND FINAL PROVISIONS
10.1. Additional terms under this agreement: .
10.2. Any changes and additions to this agreement are valid, provided that they are made in writing and signed by the parties or duly authorized representatives of the parties.
10.3. All notices and communications must be in writing.
10.4. In all other respects that are not provided for by this agreement, the parties are guided by the current legislation and the Insurance Rules, on the basis of which the agreement was concluded. The insurance rules are handed over by the Insurer to the Insured, about which a note is made in the contract, certified by the signatures of the indicated persons.
Document text:
PROPERTY INSURANCE CONTRACT "__" ______________ ____ y.________________ N __________ ______________________________________________________________, (name of the insurance organization) hereinafter referred to as the "Insurer" (license for insurance activities N _______ dated ______________________________) represented by ___________________________________________________________________, (position, full name .) acting on the basis of ______________________________________________, (Charter, Power of Attorney, etc.) and _________________________________________________________________, (name of legal entity, full name of the entrepreneur) acting on the basis of __________________________________________ (Charter, Regulations, _______________________________________________, concluded this Power of Attorney, Certificates - their N, date) agreement on the following: 1. SUBJECT OF THE AGREEMENT 1.1. The Insurer undertakes to indemnify upon the occurrence of an insured event specified in clause 1.2 of the contract, ___________________ __________________________________________________________________________ (To the Insured or the Beneficiary - his name, address) damage to the interests insured under the contract within the amount specified in clause 1.3 of the contract, and the Policyholder undertakes to pay the amount stipulated by the contract (insurance contribution). 1.2. The object of insurance is ____________________________ (risk of loss (destruction) ____________________________________________________________________ or damage to property (name property) due to ... __________________________________________________________________________ (name the insured event (theft, fire, natural disaster); __________________________________________________________________________ risk of losses from entrepreneurial activity due to violation of __________________________________________________________________________ by the counterparty (his name) of its obligations under the contract ___________________________________________________________________. N ___ dated ____, etc.) 1.3. In the event of an insured event specified in clause 1.2 of the contract, the Insurer pays ____________________________________ (To the Policyholder, Beneficiary) within _____________________ the damage caused within - (term) ________________________________________________________ ___________. (rubles, the equivalent of US dollars, Euros) 1.4. The amount of the insurance premium is - ____________________ _________________________________________________________ and is paid (rub. , the equivalent of US dollars, Euros) by the Insured _____________________________________________________. (term, date) 2. RIGHTS AND OBLIGATIONS OF THE PARTIES 2.1. The insurer is obliged to keep the secrecy of insurance and not to disclose information relating to the financial condition and activities of the Insured. 2.2. The policyholder undertakes to inform the insurer of the occurrence of an insured event within ____________________________ and in the manner (term) _________________________________________________________________. 3. The contract enters into force on ____________________________________ (from the moment of its conclusion, ____________________________________________________________________ from the moment of transfer of the insurance premium) and is valid until _______________________________________. 4. In everything that is not provided for by this agreement, the parties are guided by the current legislation of the Republic of Belarus. 5. Legal addresses of the parties: Insurer Name: __________________________ Address: _________________________________ Bank details: __________________ Tel. (fax): ___________________________ Policyholder Name: __________________________ Address: _________________________________ Bank details: __________________ Tel. (fax): ___________________________ Insurer __________________ Policyholder __________________ signature signature seal seal
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In the process of economic activity of many firms, the supply contract is most often used. It would seem that this simple, in its essence, document should be absolutely understandable and unambiguous.
__________________ “___” __________________ 200 __
Citizen ___________________________________________________, hereinafter referred to as the “Insurant”, residing at the address: _______________________________________, on the one hand, and ______________________________________________, hereinafter referred to as the “Insurer”, operating on the basis of license No. ______________________________________________, on the other hand, hereinafter referred to as the "Parties", have concluded this agreement as follows.
1. The Subject of the Agreement
1.1. The insurer undertakes, for the fee (insurance premium) stipulated by this contract, upon the occurrence of the event (insurance event) specified in clause 1.3, to compensate the Insured for the losses caused as a result of this event caused by the loss (shortage or damage) of the property specified in clause 1.2 of this contract , the Policyholder within the amount specified by the contract (sum insured).
1.2. The following property is subject to insurance under this agreement:
___________________________________________________________________________________
___________________________________________________________________________________.
1.2.1. The cost of the insured property is: _____________ rub.
1.2.2. The specified value of the property is determined on the basis of the inspection of the insured property, carried out by the Insurer.
The property valuation act is an appendix to this agreement.
1.3. An insured event for the purposes of this contract is the loss (shortage or damage) of property as a result of:
floods;
lightning strike;
earthquakes;
accidents in the power supply system;
other natural disaster.
1.4. The Policyholder hereby certifies that:
he informed the Insurer of all the circumstances known to him at the time of conclusion of this contract, which are essential for determining the likelihood of an insured event and the amount of possible losses from its occurrence (insured risk);
the Insured has no other similar insurance contracts for the property specified in clause 1.2.
1.5. The amount of insurance indemnity is established in the amount of the insured value of the property specified in clause 1.2.1.
2. Rights and Obligations of the parties
2.1. Policyholder:
2.1.1. Within ____________ from the moment of conclusion of this agreement, he is obliged to deposit 100% of the insurance premium amounting to _____________________ rubles to the Insurer's account.
2.1.2. It is obliged to take all measures for the safety of the insured property.
2.1.3. During the term of the contract, the Insurer is obliged to immediately notify the Insurer of significant changes in the circumstances reported to the Insurer at the conclusion of the contract that have become known to the Insurer, if these changes can significantly affect the increase in the insured risk.
2.1.4. Is obliged within 24 hours after becoming aware of the occurrence of an insured event, to immediately notify the Insurer or its representative of its occurrence.
The notification may be made by any means available to the Policyholder.
2.1.5. In the event of an insured event, the Policyholder is obliged to take reasonable and available measures in the circumstances to reduce possible losses.
2.1.6. The right to renegotiate this contract in the event of an increase in the insurance value of the property.
2.2. Insurer:
2.2.1. undertakes to pay the insurance indemnity to the Insured within __________________
_________________ from the moment of receipt from the Insured of a notification of the occurrence of an insured event.
2.2.2. Within ________________________ from the date of receipt from the Insured of an application for an increase in the insured value of the property, renew this agreement, taking into account the changed circumstances.
2.2.3. Simultaneously with the payment of the sum insured to the Insured, reimburses him for the expenses incurred by the Insured in the event of an insured event in order to reduce losses.
2.2.4. In the event of an increase in the insured risk, the Insurer has the right to require the Insured to change the terms of this contract or pay an additional insurance premium in proportion to the increase in the insured risk.
2.3. The insurer shall be released from the payment of insurance indemnity if the insured event occurred as a result of:
intention of the Insured;
exposure to a nuclear explosion, radiation or radioactive contamination;
military operations, as well as maneuvers or other military measures;
civil war, civil unrest of any kind or strikes;
seizure, confiscation, requisition, arrest or destruction of the insured property by order of state bodies.
2.5. The Insurer shall not be entitled to disclose information about the Policyholder obtained by him as a result of his professional activity.
3. Grounds for termination of the contract
3.1. This contract is subject to termination if, after its entry into force, the possibility of an insured event has disappeared and the existence of the insured risk has ceased due to circumstances other than an insured event, in particular, the loss of the insured property for reasons other than the occurrence of an insured event.
3.2. The policyholder has the right to cancel the contract at any time, if by the time of cancellation the possibility of an insured event has not disappeared due to the circumstances specified in clause 3.1.
3.3. If the Policyholder objects to changing the terms of the insurance contract or additional payment of the insurance premium due to an increase in the insured risk, the Insurer has the right to demand termination of the contract.
3.3. If the Policyholder has not notified the Insurer of the increase in the insured risk, the Insurer has the right to demand termination of the contract and compensation for losses caused by the termination of the contract.
3.4. Other grounds for termination and termination of this agreement are determined in accordance with the current legislation.
4. Other terms
4.1. This Agreement is made in two copies - one for each Party.
4.2. All changes and additions to this agreement must be made in writing and signed by the Parties.
4.3. This agreement comes into force from the moment of its signing by the Parties and continues to be valid for ____________________________________________________.
4.4. The insurance stipulated by this agreement shall apply to insured events that occurred after the entry into force of the agreement.
4.5. The responsibility of the Parties under this agreement is determined in accordance with the current legislation.
5. Addresses and details of the Parties
Currently, many citizens resort to property insurance. Most often, this concerns the acquisition of a mandatory civil liability policy. But there are also various other cases. So what is a property insurance contract? This is a kind of agreement, which spells out the conditions under which one party undertakes to pay the other party an insurance premium if an insured event occurs.
In this article
Basic concepts of the contract
If we consider the insurance contract, it becomes clear that only the risk of damage and gratuitous loss of specific property is subject to insurance. And in the event of an insured event, the payment of compensation will be made within the amount determined by the contract.
As for the subject of the contract, it is the obligation of the insured to pay the sum insured, as well as the obligation of the insurer to cover the amount of insurance compensation if one of the insured events specified in the contract occurs.
Such an agreement will enter into force only after the first installment on it is made. This agreement can only be paid, since the relationship between the parties is formalized only in monetary terms.
As a rule, the document is issued in a bilateral manner. But there are times when it is drawn up in favor of third parties. In this case, the beneficiary is a third party under the contract. It can be both a legal entity and an individual. And the agreement itself is always concluded directly between the insurer and the insured.
In the role of the insurer, only a legal entity always acts. He also provides services to the applicant who applied to him. The insured, being the initiator of legal relations, chooses the most convenient insurance company for himself, with which he establishes monetary relations, signed by an agreement.
The property insurance contract is voluntary, but at the same time, it must be drawn up only in writing. When the contract is concluded, the policyholder receives a certificate, which is the guarantor of compliance by the parties to the agreement with all its conditions.
The document must give a complete description of the object of insurance. These usually include:
- vehicles;
- residential and non-residential buildings;
- buildings for economic purposes;
- any items for personal use, such as jewelry;
- plots of land and so on.
What definitions will be in the contract and what meaning do they carry?
- Sum insured. This is the money that is prescribed in the contract, and within which, the insurance company undertakes to pay insurance compensation.
- Insurance case. This is the occurrence of a specific event, which was prescribed under the contract, or is regulated by law. And at the time of its commission, the insurer is obliged to reimburse the insurance payment to the insured, or to the beneficiary. It will depend on what is written in the document.
- Insurance premium. This amount of money is the expenses of the applicant. At the time of the conclusion of the contract, it is he who must pay the premium for the insurance of the selected company.
- Insurance payment. Financial means, which are determined by the terms of the agreement, and must be paid by the insurance company for causing damage to those property items that were insured by the insured. It is paid after the occurrence of an insured event, if any. And both the policyholder himself and third parties can receive it, depending on what exactly is written in the document.
Essential conditions for property insurance
As for the essential terms of the property insurance contract, they include those without which it simply will not make sense.
What must be included in the contract?
- Subject of the agreement. This clause of the contract provides for a description of the object of insurance with all its characteristics. For example, when a land plot is subject to insurance, the completed document must have information about its exact address, cadastral number, the size of the plot itself, and also what type of purpose it belongs to. As well as other significant individual characteristics.
- The period for which the agreement is concluded. This is also a mandatory clause, which provides for the period of time when, in the event of an insured event, the insured person will receive compensation.
- The amount of the insurance premium. This moment is immediately negotiated with the insurance company, and if the applicant is satisfied with the amount of the contribution, then the document is further filled out.
- Occurrence of an insured event. Those aspects, upon the occurrence of which an insured event occurs, are verified. And then the insurer will pay compensation to the applicant. Also, certain points of this paragraph are regulated on a legislative basis (Article 10, paragraph 3 "On the organization of insurance business in the Russian Federation").
- Other conditions, the observance of which is important for at least one of the parties, which means that it is necessary to reach consensus on them. And add them to the paragraphs of the document.
This agreement is regulated by article 432, paragraph 1 of the Civil Code of the Russian Federation. And the sample insurance contract itself is regulated by Chapter 48 of the Civil Code of the Russian Federation, as well as other regulations.
It is important to understand that only the property interests of the applicant can act as the subject of the contract.
Although the insurance itself, which has a material basis, may be associated with:
- with individual insurance;
- with the possession of property, or its disposal and use;
- Individual liability can also be insured.
Insurance contract and its classification
Insurance agreements may be different, depending on the item to be insured. So the split might look like:
- depending on what is the object of insurance: a plot of land, an apartment, personal property values;
- depending on the type of insured event: property interests can be insured against fire, flood, other natural disasters, damage and damage, theft and other options;
- Depending on the beneficiary upon the occurrence of an insured event, both the insured himself and third parties can act as such.
On the official website of the selected insurance company, you can find samples of contract forms. The two main sections that the document will contain are:
- description of the insurance object;
- insurance rules.
In addition to the document itself, as a rule, accompanying papers are also attached to it. These include:
Rights and obligations of the parties at the conclusion of the contract
Obligations of the insurance company:
- full familiarization of the applicant with all the conditions of insurance;
- if an insured event occurs, then as soon as possible prepare all the documentation for reimbursement of monetary compensation to the insured;
- ensure full payment of compensation to the insured person, and cover all his expenses.
In this case, the insurer will also have the right not to pay the amount of insurance, if there are good reasons for that. For example, the occurrence of an insured event is associated with the unlawful actions of the applicant himself.
Obligations of the insured:
- pay insurance premiums within the specified period;
- when drawing up the document, provide reliable information regarding the subject that is insured;
- promptly inform the insurance company about the occurrence of an insured event.
In addition, the applicant has the right to double insurance, that is, the conclusion of an agreement with several companies. He can also refuse the services of this company and cooperate with another company. And in the event of an insured event specified in the agreement, he must, without fail, receive monetary compensation for the losses incurred.
Outcome
It should be understood that only the object in the direction of which there is a material interest can be insured. Otherwise, this document simply will not make sense. That is, upon the occurrence of certain moments, the insured will incur losses regarding his property. In such a case, the insurance company is to cover such losses.
In order to avoid certain material losses in case of property damage, it must be insured.
There are a great many organizations on the market that deal with insurance and the choice of the appropriate company is an individual matter for each owner of real estate. And in order to profitably insure property, you need to carefully draw up a real estate insurance contract.
The contract is a documentary confirmation of the relationship between the insured and the client. In the event of an insured event, the insurance company undertakes to pay the client the amount agreed upon in the agreement.
Conclusion of an agreement
Under the contract, any part of the property can be insured. The insurance indemnity cannot exceed the real value of the real estate at the time of the conclusion of the agreement.
If the insurance payment exceeds the cost, then such an agreement is invalidated. Drawing up an agreement in writing is an integral part of the agreement.
The contract is concluded for a period of one year or for an unlimited period. If the term is unlimited, then the agreement is considered extended at the time of receipt of 20% of the annual payment.
Components of a real estate insurance contract
An insurance transaction has the possibility of drawing up on one document or issuing an insurance certificate, policy, receipt, certificate on the basis of an application.
The agreement includes the following items:
the essence of the agreement. This paragraph indicates the object of insurance;
document's name;
data of the insurance company, full name, addresses, telephones;
information about the insurer;
the sum insured;
conditions of insurance risks are prescribed either exclusions from risks, or a list of them;
the amount of the insurance premium and the procedure for payment;
the urgency of the agreement;
rules for terminating or amending the contract;
other conditions and additions;
signatures.
As practice shows, the insured cannot always receive insurance payments.
If the client intentionally caused damage to property, committed a crime that led to an insured event, provided false information about real estate or received money for damage from the person who caused the damage, then it is impossible to receive the sum insured.
The law also stipulates that an insurance organization is relieved of the obligation to pay insurance payments in the event of: military (combat) maneuvers, military actions; nuclear explosion, radiation exposure; popular uprisings and civil wars.
The insurer is released from the obligation to pay insurance compensation for damage caused by the confiscation, destruction, requisition, seizure or arrest of the insured real estate at the direction of the authorities, unless otherwise provided by the agreement.
The provision of the agreement may prescribe other grounds for refusing to pay, if this does not contradict the law of the Russian Federation. The decision to refuse payment of the sum insured is made by the company and communicated to the policyholder in writing with an important explanation of the circumstances of the refusal.
Below is a standard form and a sample real estate insurance contract, a version of which can be downloaded for free.
