It is a type of insurance required by legislation and providing for insurance compensation in case of natural disasters, fires, explosions, floods and others. The insurance premium for this type of insurance is 50 manats in Baku, 40 manats in Ganja, Sumgayit and Nakhchivan, and 30 manats in other cities and regions. The sum insured under this type of insurance, i.e. the amount to be paid by the insurance company to the estate owner in the event of an accident, is 25,000 manats in Baku, 20,000 manats in Ganja, Sumgayit and Nakhchivan, and 15,000 manats in other cities and regions.
Insurance of the property against fire and other risks provides for full or partial compensation for damage to the estate, together with other items located in its territory and (or) inside, or separately as a result of damage or destruction or loss in any form as a result of fire or other accidents. Fire insurance covers the risks of damage to buildings and their contents as a result of fire, lightning, explosion of gas or steam boilers used for domestic purposes, such as heating and cooking. Such risks include events that may occur both in homes and in buildings and structures used for commercial and industrial purposes.
The insurance premium for this type of insurance varies from 50 to 300 manats, depending on the type of vehicle, the form of ownership of a legal entity and an individual, engine size, carrying capacity and number of passengers. Depending on whether there was an insured event in previous years (bonus-malus), the insurance premium may be less than 50 manats and more than 300 manats.
Provides full or partial compensation for damage, destruction, as well as theft or theft of a motor vehicle. This insurance covers private cars, motorcycles, trucks, as well as public transport such as buses and taxis, as well as agricultural and construction equipment.
Provides for the payment of insurance compensation in the event of the death of the insured within the prescribed period. For example, if an insurance contract is concluded for a period of 10 years, in the event of the death of the insured during this period, the beneficiary will receive an insurance payment. If the insured person lives after this period, the insurance contract is terminated and no payment is made.