Respectable buildings usually stand for centuries. However, we live in a world where we never know what tomorrow will bring.
- Real Estate Insurance Condition
- General contractual terms and conditions
- Special Clauses
- Kinnisvarakindlustuse tingimused (PDF 503 KB)
The object of real estate insurance is a building and the purpose of the insurance is indemnification of damage caused to and pertaining to a building.
A building can be insured against specifically chosen risks or by way of the all-risks principle. Owners earning rental income are offered the indemnity for the rent foregone due to a loss event based on the insurable risks. The maximum indemnity for the loss of the rental income contained in the product is 0.75% of the sum insured of the building per month and the indemnity is paid within 6 months after the loss event. If the rental income of the owner is higher, this must be additionally insured based on the Business Interruption Insurance Conditions.
Another additional coverage is indemnification of the lock system replacement costs if the building's master key has been robbed or lost as a result of a break-in and the lock system needs to be replaced for the purpose of prevention of further losses. The costs of the lock system are compensated to the extent of 20,000 Estonian kroons.
Damage caused to a third party upon maintenance, administration or possession of an insured building can be indemnified through real estate insurance.
A building can be insured against specifically chosen risks or by way of the all-risks principle. Owners earning rental income are offered the indemnity for the rent foregone due to a loss event based on the insurable risks. The maximum indemnity for the loss of the rental income contained in the product is 0.75% of the sum insured of the building per month and the indemnity is paid within 6 months after the loss event. If the rental income of the owner is higher, this must be additionally insured based on the Business Interruption Insurance Conditions.
Another additional coverage is indemnification of the lock system replacement costs if the building's master key has been robbed or lost as a result of a break-in and the lock system needs to be replaced for the purpose of prevention of further losses. The costs of the lock system are compensated to the extent of 20,000 Estonian kroons.
Damage caused to a third party upon maintenance, administration or possession of an insured building can be indemnified through real estate insurance.