Fire and Natural Calamities
DallBogg is pleased to provide insurance related to property interests, to insure industrial and non-industrial activities:
- Property of companies, cooperatives and sole proprietors serving their activities in the field of trade, services and other activities.
- Property of natural persons, freelancers or tradesmen, used for carrying out their work;
- Property of other entities used for administrative or other non-industrial activities.
What are we insuring?
Properties, owned, leased, provided for safekeeping or other immovable and / or movable property, used on other grounds by the Insured person including:
- Immovable property- industrial and non-industrial (administrative) buildings, offices, commercial sites etc.
- Movable property:
- Machinery, equipment and installations, computers, office equpment.
- Agricultural inventory;
- Cost of acquisition of fixed tangible assets;
- Other Fixed Tangible Assets and means of transportation without State Control number
- Works of art;
What is the duration and territorial scope of the insurance?
The insurance covers a period of 1 /one/ year. The coverage is on the territory of the Republic of Bulgaria, unless otherwise agreed in the policy.
What does the insurance cover?
The Insuring person shall cover damages or losses, expenses and / or damages to property caused by the following risks, grouped in clauses, as follows:
- “Main Coverage” Clause- fire, lightning strike, explosion, implosion, collision (falling) of aircraft and bodies, parts and objects falling from them.
- “Extended coverage” Clause – under this clause are insured properties, insured under the “Main Coverage” clause in combination with one or more of the following risk groups:
- „RP 1”: Natural calamities – storm, hurricane, hail, heavy rain, weight and drench due to natural accumulation of ice and snow, flooding due to natural calamities, damages from falling trees and branches and other foreign objects as a result of natural calamities, collision of snow masses (avalanche);
- „RP 2”: Soaking caused by bursting of water, sewage, heating, ventilation, sprinkler (fire extinguishing) and steam pipeline installations.
Costs to prevent or limit the destructive effects of an insurance event, for cleaning, arranging and alignment of rescued insured properties after the occurrence of an insurance event under “Main Coverage” clauses and “Extended coverage” in the extent of 2% of the insurance amount, but no more than BGN 20 000 unless otherwise agreed. These costs are agreed in advance with the Insuring person.
- “Additional coverage” Clause – under this clause are insured properties against one or more of the following risks:
- „DP 1”: Burglary and / or theft with the use of technical means;
- „DP 2”: Vandalism, arson and malicious explosion;
- „DP 3”: Robbery;
- „DP 4”: Short circuit, overvoltage or electric shock;
- „DP 5”: Damages to insured property due to an impact with a vehicle or an animal, not belonging or not under the control of the Insured person;
- „DP 6”: Earthquake;
- „DP 7”: Landslides and collision of earth layers;
- „DP 8”: Damages by the action of waves;
- „DP 9”: Other risks under specific arrangements.
What is this insurance amount?
- The insurance policy is concluded on the basis of a completed written Declaration from the Insured person, stating all circumstances that are important for determining the nature and extent of the risk.
- The insurance amount is in BGN.
- The insurance amount and the manner of its determination is indicated by the Insured person, as the values recorded in the policy are maximum liability of the Insuring person for each property or group of properties and can not exceed the real or replacement value of the insured property.
How is the insurance amount determined?
- Under replacement value – for new buildings / up to 3 years / and properties, manufactured in the year of the insurance conclusion;
- Under real value, determined by an expert evaluation by a licensed appraiser or an expert, attached to the insurance contract;
- Under cost of documents acquisition;
- Under presented accounting data – book value or balance amount, or value multiples of these, corrected with coefficient upon agreement.
- When insuring goods, materials, raw materials, work in progress, unfinished manufacturing and finished production, the real value is equal to the actually made, calculated and proven costs.
- The insurance amount for inventories can be determined based on the average monthly stock for the preceding 12 months or on the basis of declared or expected monthly turnover of stock.
What is the insurance premium?
The insurance premium is determined on the basis of tariff numbers in % of the insurance amounts, according to the risk circumstances, type of property, insurance coverage and term of the insurance. After analysis of the circumstances, discounts are applicable .
Payment of premium shall be made in single payment or in deffered payments in BGN, via bank transfer to the account of the Insuring person.
How to receive your money after an insurance event?
Upon the occurrence of an insurance event, the Insured person fills notification to establish the circumstances of the occurrence of the insurance event.
The amount of the indemnity shall be determined:
- According to an expert assessment of the Insuring person.
- Under the presented comprehensive documentation of the Insured person for the repair of the failures with his own funds or through assignment after prior consultation.
Indemnity shall be paid within 15 days after the date of submission of the last required document.