For companies
Company property insurance
A warehouse fire, a burst pipe in the office or theft of equipment can bring a business to a standstill and cause damage comparable to a year's profit. Voluntary property insurance lets you recover such losses and get back to work faster. In the Insurance Center calculator you can price a policy for an office, retail space, warehouse or production facility and compare terms from licensed insurance companies in Kazakhstan.
Why businesses insure property
Even a company with financial reserves is rarely ready to replace premises, equipment and fit-out all at once. After a major loss, costs arise in several places at the same time: restoration, downtime, obligations to customers and suppliers. A policy turns the heaviest part of these costs into a predictable annual payment. In addition, having insurance builds trust with banks, landlords and partners, who often state it directly in contracts as a mandatory condition of cooperation.
Who it is for
Property insurance is in demand among companies of any size, from a small office or shop to a production site. It is especially relevant if:
- the property is pledged to a bank and the lender requires it to be insured;
- the premises are rented and the lease obliges the tenant to insure the fit-out and equipment;
- the business involves a high fire load: manufacturing, warehousing, retail;
- the property is located in a seismically active area, such as Almaty.
Risks you can choose
Core risks
- Fire, lightning strike, explosion
- Water damage from failures of water supply, heating and sewage systems
- Burglary, robbery, vandalism
Natural risks
- Natural disasters: storm, hail, flood, mudflow
- Earthquake, a separate risk that is especially important in the south of the country
- The set of risks can be extended to fit the property's profile
Features of different properties
An office is primarily fit-out, furniture and office equipment, and its main risks are water damage and fire. Retail premises are also exposed to theft and vandalism because they are open to visitors. A warehouse holds large volumes of property in a limited space, and a single fire can destroy everything at once. A production facility includes expensive equipment and hazardous technological processes. These differences are taken into account when calculating the cost.
What to check
Clarify exactly what is included in the sum insured: the building, fit-out, equipment, inventory. Check the security and fire protection requirements: alarms, fire extinguishers, compliance with storage rules. Find out how the payout is calculated: at replacement cost or with wear and tear deducted.
Important for inventory
Goods in a warehouse are usually insured under a separate programme that takes into account the category of goods and fluctuating stock levels. If the main value of your warehouse is the goods rather than the building, consider a warehouse stock insurance programme.
When a claim may be declined
- A breach of fire safety requirements that led to the loss.
- The event is not on the list of selected risks.
- The damage was caused by wear and tear, corrosion or lack of maintenance.
- The policyholder did not notify the insurer within the set deadline or concealed material information when applying.
What affects the cost
| Factor | Effect |
|---|---|
| City | Seismic activity, climate and regional loss statistics |
| Property type | Offices, retail, warehouses and production carry different levels of risk |
| Sum insured | The premium is calculated from the value of the property in tenge |
| Deductible | The higher the deductible, the lower the cost of the policy |
| Set of risks | Each risk adds protection and increases the price |
What to prepare
You will usually need the company's registration documents, title documents or a lease agreement, a list of property with values, and information about security and fire suppression systems. For large properties the insurer may carry out a pre-insurance inspection.
How to buy a policy through Insurance Center
Online calculation
Choose the city, property type, property value, deductible and risks.
Comparing offers
Compare prices and terms from several insurance companies and choose the best solution.
Policy and payment
Pay for the policy by invoice or online and receive the documents by email.
What to do if an insured event occurs
- Take steps to save the property and prevent further damage.
- Call the relevant services: fire brigade, police, emergency repair service.
- Notify the insurance company within the period set out in the contract.
- Keep the damaged property until it is inspected, and take photos and videos.
- Prepare reports, certificates and a list of the damage, and submit a claim.
How to choose a programme
Assess which events really threaten your business and include exactly those. For a stable budget, choose a deductible that the company is prepared to cover itself. Compare not only the price but also the exclusions, security requirements and payout procedure.
This material is for reference only; final terms are set by the insurance rules and the contract.
How Insurance Center helps
Insurance Center compares offers from licensed insurance companies in Kazakhstan, helps you choose the right level of protection for your business and supports you through claims settlement. Calculate the cost online or call +7 727 225 40-40.
