Insurance
Property

Insurance
Small-Size Business Insurance

What is Small Business Insurance?

This insurance is a voluntary combined insurance product. It is intended for Bulgarian or foreign companies in the small business sector (trade, services, offices, manufacturing with up to 50 employees and/or €511,291.88 in fixed assets).

Insurance coverage:

Property damage - Total or partial damage to real estate and movable property - owned by or for which the insured is responsible. We will cover damage and/or expenses related to the insured property resulting from risks under the following Clauses:

Basic coverage - CLAUSE A (minimum required for taking out the insurance):

fire, including the consequences of extinguishing it;
explosion;
lightning;
collision or fall of a piloted aircraft, its parts or cargo.

Extended coverage (you can optionally add some of the following Clauses to the above):

implosion;
storm;
hail;
torrential rain and flooding;
weight of naturally accumulated snow and/or ice;
wetness of property due to water and steam leakage from tanks, pipe installations and connected appliances;
impact by a vehicle or animal or accident with loading and unloading machines during loading and unloading;
freezing;
landslides and/or collapse of earth layers or damage from the action of groundwater, sea waves.

In addition, you can add Additional Coverage/Clauses from the following:

intentional arson and/or explosion;
breakage of glass, shop windows, advertising signs and billboards;
D4 – sudden water leakage from sprinkler systems;
malicious acts by third parties;
earthquake (for buildings and movable property);
short circuit;
necessary expenses;
change of insurance location;
general civil liability to third parties coverage for bodily injury and/or property damage caused by the Insured, its workers or employees, or persons working on behalf of and for the account of the Insured in the insured property, during or in connection with the activity performed.

Insurance amount:

The limit to which we are liable is agreed between you and us in one of the following ways:

actual value - the value for which the insured property can be replaced with another of the same quality, type, and condition.

For material stocks - determined on the basis of the average/maximum availability for the previous 12 (twelve) months or on the basis of a one-time or periodic declaration of availability for stocks and materials, in accordance with the clause "Declaration of material stocks".
Agreed liability limits, defined as a fixed monetary amount per event and for the term of the insurance – applies under the clause "Civil Liability to Third Parties". May also apply to the Sum Insured.

What are my obligations?

to answer all questions asked by us when concluding the insurance contract, providing us with accurate, true, and complete information;
to pay the insurance premium under the contract within the agreed time limits;
to notify us of any change in the declared circumstances;
to notify us within the specified time limits and in the specified manner in the event of an insured event;
to provide the necessary documents when making a claim;
take the necessary measures to prevent events that may lead to the occurrence of an insured event covered by the insurance contract;
use the insured property for its intended purpose and maintain it.

How do I pay?