Insurance
Buildings and Contents Insurance

What is "Home and Household Property" insurance?

• This insurance is a voluntary combined insurance product. It is intended for Bulgarian or foreign individuals who own or use homes and the movable property therein.

Insurance coverage:

Material damage - Total or partial damage to immovable 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 due to natural accumulation of 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 landslips or damage caused by groundwater or sea waves.
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In addition, you can add Additional Coverages/Clauses from the following:

• 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;
• general civil liability to third parties.

Insured amount (IA):

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. It is determined on the basis of an expert assessment, selected methodology:
• for immovable property - based on the minimum amounts per unit of area/volume applied by us in accordance with certain indicators or in another manner agreed between the parties;
• for movable property - the value for which property of the same type, condition, and quality can be purchased on the market - market price, less depreciation;
• agreed liability limits, defined as a fixed monetary amount per event and for the term of the insurance - applies under the "Third Party Liability" clause. It may also apply to the sum insured for property and coverage under some of the clauses.

What are my obligations?

• to answer all questions asked by us when concluding the insurance contract, providing us with accurate, true, and comprehensive information;
• to pay the insurance premium under the contract within the agreed deadlines;
• to notify us of any change in the declared circumstances;
• to notify us within the specified deadlines 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?

• The insurance premium is paid in a lump sum or in installments, in the manner and amount agreed in the insurance contract.
• You can pay the insurance premium at the offices of JSIC "OZK - Insurance" throughout the country, by bank transfer, or through your insurance broker.
• For policies issued on deferred payment, you can pay the next installment due online, by debit or credit card, at www.online.ozk.bg/vnoska
• If the initially agreed insurance amount is partially exhausted as a result of paid claims, you have the right to reinsure and, upon payment of an additional premium, restore the initially agreed insurance amount.