Rental property insurance: reliable protection for Your business with PJSC "Company "PRESTIGE" PJSC "Company "PRESTIGE" offers a comprehensive solution to ensure the financial security and protection of your property interests related to the operation of rented office, administrative, warehouse, and production buildings and premises. This service is available to both legal entities and individual entrepreneurs. Insuring rented property that is state or communal property is especially relevant, as it's mandated by the Law of Ukraine "On the Lease of State and Communal Property," making it a compulsory component for many tenants.

Why choose insurance with PJSC "Company "PRESTIGE"?

Partnering with us guarantees you a number of significant advantages:

• Professional Consultation and Optimal Terms Selection: Our experienced specialists will provide expert assistance in choosing the most effective insurance terms, considering your business's specifics, the type of rented property, and potential risks. We'll help you understand all the nuances of the contract to ensure maximum protection.
• High Level of Insurance Protection at Reasonable Costs: We provide reliable insurance coverage through partnerships with leading Ukrainian insurance companies. This allows us to offer an optimal price-to-quality ratio, minimizing your insurance costs while ensuring comprehensive coverage.
• Individual Approach to Coverage Scope: You have complete freedom to choose the most optimal scope of insurance protection for your property interests. This means the insurance contract will be maximally adapted to your unique needs and budget, allowing you to insure only the risks that are most important to you. 

What can be insured?

We accept the structural elements of rented buildings and premises for insurance, which are integral parts of the structure and form its foundation:

• Foundation: The base of the building that bears the primary load.
• Load-bearing and non-load-bearing walls and partitions: Vertical elements that define the building's space.
• Ceilings and floors: Horizontal structures that separate floors.
• Roofing: The upper protective part of the building that shields against atmospheric precipitation.

What cannot be insured?

To avoid misunderstandings, it's important to note that some types of property are not insurable under this type of contract:

• Movable property: As the contract pertains to structural elements, movable property (furniture, equipment, inventory, etc.) is not included in the coverage.
• Land plots: The land plots on which buildings are located are not insured.
• Objects of unfinished construction, property under construction and/or installation: Insurance applies to existing and operational facilities.
• Real estate located in a potential natural disaster zone: If, at the time of contract conclusion, the territory is officially recognized by competent state authorities as a high-risk natural disaster zone, insurance for such property is not provided.
• Emergency or unusable objects: Buildings or premises declared emergency, subject to demolition, undergoing major repairs, uninhabited, or located in high-risk zones.
• Defective and unusable property: Property that already has significant damage or cannot be used for its intended purpose.
• Property located in emergency apartments/houses where habitation is prohibited or which lack sufficient supervision: For example, dachas, summer houses not in permanent use.

Who can be the policyholder?

The policyholder for this contract can be any legal entity, regardless of its form of ownership, that has a legal property interest related to the ownership, use, or disposal of the property, and this interest does not contradict current Ukrainian legislation.

What constitutes an insured event?

Insured events are damage to or destruction of the insured property resulting from events clearly stipulated by the contract terms, namely:

Fire Risks:

• Fire: Uncontrolled burning causing damage.
• Damage from smoke, soot, corrosive gas: Consequences of combustion products.
• Damage from firefighting measures: Losses caused by water, foam, or other substances during fire suppression.
• Explosion: Including explosions of gas, steam, dust, and other explosive substances.
• Lightning strike causing fire: A direct lightning strike that leads to ignition.

Natural Phenomena:

• Geological and Hydrological: Earthquake, mudflow, landslide, rockfall or scree, ground subsidence (sinkhole), karst sinkholes, rising groundwater levels (flooding), rockfall, inundation.
• Atmospheric: Very heavy rain (downpour), large hail, heavy snowfall, heavy rain (rain and wet snow), extreme frost, extreme heat, strong wind, severe dust storm, heavy ice accumulation, severe black ice, severe (high) sea and reservoir agitation, high or low sea level, spring floods, flash floods, mudslides, avalanches.

Water and/or Other Liquid Damage:

Due to damage to water supply, sewerage, heating, and firefighting systems, as well as water and/or other liquid penetration from adjacent premises, resulting from:

• System bursts or freezing: Including water taps, hydrometers, heating radiators, steam boilers, boilers, and equipment for water and steam heating, firefighting systems.
• Sudden damage, rupture, or freezing: Of taps, valves, tanks, bathtubs, radiators, heating boilers, boilers, etc., directly connected to the aforementioned systems.

Unlawful Actions of Third Parties:

• Burglary, robbery, or assault: Illegal appropriation of property.
• Willful destruction or damage to property: Including arson, explosion, detonation, hooliganism.

Other Events:

• Construction work: Damage caused by construction or repair work.
• Falling objects or entities onto the property: For example, falling trees, poles, parts of buildings.
• Vehicle impact: Damage to property resulting from collision with ground vehicles. 

What is the insurance sum?

The insurance sum is determined by agreement of the parties, providing flexibility in setting the liability limit. It can be based on the amount specified in the lease agreement or on information provided in a certificate of the book value of the insured property. This ensures adequate coverage commensurate with the value of the rented asset.

Is a deductible (franchise) stipulated by the contract?

Yes, a deductible is established by agreement of the parties. It can be defined as a percentage of the insurance sum or as an absolute monetary amount. The deductible is a risk management tool that impacts the cost of the insurance policy – the higher the deductible, the lower the premium, as part of the risk is assumed by the policyholder.

How much does an insurance contract cost?

The basic insurance tariff for rented property insurance ranges from 0.07% to 3% of the insurance sum. The final amount of the insurance tariff is individual and depends on several key factors:

• Degree of risk: Determined by the tenant's type of economic activity, property operation specifics, its technical condition, and the presence of security systems.
• Property characteristics: Type of building (office, warehouse, production), construction materials, age, condition.
• Selected risks: The scope of insured events included in the contract.
• Deductible size: A higher deductible results in a lower tariff.
• Contract term: The duration of insurance coverage.

For what period can an insurance contract be concluded?

The policyholder has the option to choose the term of the contract. It can be concluded for a period of up to one year, allowing for flexible planning of your insurance protection.

We invite you to contact the specialists at PJSC "Company "PRESTIGE" for a detailed consultation and an individual calculation of the cost of insuring your rented property. We will ensure your business receives reliable protection!