The notion of "property insurance" includeslegal definition of insurance of interests of legal entities and individuals. Insurers form a specific cash account, which is used to pay certain insured events. Today the circle of insurers has expanded, the notion of "property insurance" has changed. What does it now mean?
The new version of the Insurance Law provides for the property insurance of individuals related to their interests in the use, possession and disposal of property.
When an insurance company concludes an insurance contract with citizens, it undertakes to reimburse them for the damage caused to this property. Civil liability has several characteristic features:
- property law;
- civil law, which includes the responsibility of two participants who have entered into civil-law relations with each other;
- the amount of liability depending on the amount of the loss or damage caused.
Property insurance can be implemented in two forms: compulsory and voluntary.
With voluntary property insurance betweenthe insurer and the policyholder draw up a contract or establish insurance rules based on the current legislation. All the conditions are stipulated in these documents.
If this is mandatory property insurance, then civil liability must be defined by law. Therefore, this kind of insurance must be notarized.
Property insurance is one of the industries.In it, property and property interests act in the form of insurance relations. From an economic point of view, property insurance is compensation for damage that occurs as a result of an insured event.
The policyholder can insure his ownproperty, as well as property in its possession, disposal and use. Tau can be land and air transport, transported cargo, buildings and structures, animals, equipment, crops, farms and much more.
Objects of insurance are divided into subjectshome furnishings, buildings, vehicles and animals. When animals are insured in case of death, forced slaughter from a natural disaster, infectious diseases or a fire, they are insured based on the book value of 70%. It is allowed that small farm animals are insured voluntarily. They are insured with full value together with the structure and household property. This is done by a separate property insurance in the courtyard.
If property insurance concerns homes,garages or outbuildings, compulsory insurance provides 40% of their cost according to the state estimate, and voluntary - 60%.
It should be noted that banknotes, documents, manuscripts, securities, precious metal products and antiquarian items are not subject to insurance.
