Corporate property insurance
Property insurance compensates losses that result from destruction or damaging of corporate property, and it helps to quickly restore the normal organization of work.
Insurance cover can be purchased against both specific selected risks such as fire or theft, but it is also possible to purchase an extended insurance cover that encompasses several risks.
- Wide choice of channels for purchasing insurance cover. You can purchase the policy in any sales facility across Estonia, just choose the suitable representative office or ask for the offer through Internet.
- Insurance cover is tailor-made. Based on the field of activities and needs of the company, you can choose between insurance covers that differ in terms of scope and objectives. See the additional information here.
- Insurance of selected risks. You can choose between various risks such as fire, pipe leak, storm, flood or theft.
- Extended insurance cover. Extended insurance cover provides an additional insurance protection, subject to any contractual restrictions, against several different unexpected events that are related to the company’s every-day activities, such as failure of production equipment or goods for sale. An extended insurance cover can be added to the insurance of selected risks.
- Equipment breakdown insurance. Insurance covers the loss caused by a sudden and unforeseeable failure or malfunction of a part of equipment. Similarly to the extended insurance cover, the equipment breakdown insurance can be added to the insurance of selected risks.
For example: an equipment of an agricultural undertaking broke up and a component of this equipment fell into the flour. The goods had to be destroyed, as it was not possible to find this component. The company had purchased the extended insurance cover for its goods and Salva compensated the incurred losses.
- Quick loss adjustment and professional support. Experienced consultants of Salva and swift loss adjustment process are the guarantees that the company can quickly resume its normal activities in case of accidents. Salva’s sales representative assists the company in choosing the most suitable insurance solution.
Insurance covers various unexpected and unpredictable losses. It is important to read the terms and conditions of corporate property insurance when purchasing the insurance cover, including the exclusions – these terms and conditions include a list of risks and events that are excluded from the cover. See the terms and conditions here.
Insurance can be purchased for buildings (buildings, parts of buildings, structures), inventory and assets that are necessary for business activities or are under the company’s liability, as well as goods for production or for sale.
Building insurance covers all existing important elements of which the building is constructed and which are servicing the building (for example, the supporting structure, partition walls, insulation and finishing materials, utility systems located on the property within and around the building and servicing the whole building). The following structures located on the same property and servicing the building are insured together with the building without any special agreement: fence, barrier boom, gate, waste disposal facility, external lighting systems, and flagpole.
Insurance of a part of a building covers decorations, doors, windows, non-load-bearing partitions that have been permanently installed within a realistically identifiable room of an office, store, warehouse, etc., as well as any permanently installed technical, safety, telecommunications and lighting systems servicing that room. Insurance of a part of a building does not cover losses arising from the supporting structure, ceilings, roof or other parts of a building that are not located in the insured room.
Upon the conclusion of contract all necessary details must be considered: which assets will be covered, against which events the cover is purchased, which insurance option to choose. It is important to understand the objective of insurance – whether the objective is to meet the requirement of a bank or to protect a viable business.
Insurance premium is dependent on the field of activities, the volume of assets, etc., but mostly on the investments made into alarm and fire extinction systems, maintenance of equipment and general upkeep of the company for mitigating risks. Insurance premium is also dependent on the level of policyholder’s retention/deductible.