This insurance provides coverage for all risks, which are not written down as excluded under Property Damage Section.

The coverage automatically includes also expenses of up to 5% of the total sum insured of the property under Property Damage Section, incurred by the Insuree for the purpose of damage containment and elimination of the consequences from the occurred insured event., as well as newly acquired property, alterations, improvements and supplements to the insured property, made within the insurance contract period and amounting to up to 10% of the total sum insured of the property under Property Damage Section.

The protection of your assets can be expanded by adding any of the additional clauses below:

• Electronic equipment
• Machine breakdown

Insurance coverage against financial loss as a result of a total discontinuation or partial interruption of your activity is provided only as an addition to the coverage under Property Damage Section.

Upon occurrence of damage as a result of a risk, covered by the negotiated arrangements under Property Damage Section, the insurance policy covers one of the following:

• loss of an insurable gross profit
• loss of rental income
• increase in operational costs

It expands the insurance coverage by including damage, inflicted on the insured electronic equipment as a result of:

• structural errors, defects in the material, poor workmanship
• induction
• negligence, misuse and/or mistakes of operators, handling the equipment

It expands the insurance coverage by including damage, inflicted on the insured machines as a result of:

• structural or design errors
• assembly or installation errors
• defects in ingots or material
• error in unit workmanship
• insufficient water in steam-boilers/ boilers/ steam-generators
• physical explosion of steam-boilers/ boilers/ steam-generators
• rupture or destruction as a result of centrifugal forces and/or material fatigue
• failure/malfunction of measuring, controlling and regulating devices
• overvoltage
• errors, misuse or negligence on the part of operators, using these machines

In case you store frozen goods in refrigerating chambers/warehouses/facilities, which you have insured under Machine Breakdown Clause, you may add protection of frozen goods against spoilage by adding the Frozen Food Spoilage coverage.

The sum of money, indicated by you and written down in the insurance contract, is the sum insured or the limit, up to which we assume liability for occurred and covered damage under the contract.

Correct determination of the sum insured is extremely important for defining the indemnity amount upon occurrence of an insured event.

The sum insured for immovable property, machines, facilities, equipment, electronic devices and furniture can be determined by you, based on an expert assessment by a licensed appraiser or the book/balance sheet value.

The sum insured for goods/inventories is being determined according to the average or maximum availability of inventories in the previous 12 months.

You may conclude the insurance policy in one of the following ways:

• at replacement cost – the value of restoring the property or replacing it with new one of the same type and quality, including all inherent costs for delivery, construction, assembly, etc. (without applying impairment)
• at actual cost – the value against which instead of the property insured another property of the same quality, type and condition may be supplied while taking into account the degree of amortization/depreciation

Depending on:

• the nature of your activity and the degree of risk associated with it (risk class)
• property type/s
• negotiated sum insured
• the town/village/place where the insured property is located
• the chosen combination or package of risks covered (clauses)