The reliable world of my home, my apartment… the warmth of the hearth, comfort – you do not want to lose any of this.

Polis Re cares about its clients and offers them comprehensive protection of property interests. In 2011 alone, 250 people became clients of the company and insured risks connected with natural phenomena, unlawful acts of third parties, and partial damage to or total loss of property during its use.

Polis Re offers its clients homeowners property insurance programmes. Thanks to home insurance programmes you can insure the interior finishing, the property or the whole apartment, including against the risk of harm being done to your home by third parties.

Insurance protection allows you to recover your losses:

  • in the event of fire, lightning strike, explosion, natural disasters;
  • in the event of water damage, flooding of neighbours;
  • in the event of destruction of or damage to property as a result of unlawful acts of third parties.

Quick arrangement of the contract, an acceptable fixed price and the efficient work of the claims centres are at your service.

Real estate is often a person’s only capital and investment, and protecting it against unforeseen risks will save you from the most unpleasant events.

Among the riskiest territories of Kazakhstan, where earthquakes, floods and man-made accidents are possible, are:

  1. Almaty
  2. Ust-Kamenogorsk
  3. Uralsk
  4. Atyrau
  5. Karaganda

What can be insured

  • Structural elements – the walls, floors, roof and foundation of a private house; for an apartment – the structures within what belongs to the owner (the exact scope depends on the insurer’s rules).
  • Interior finishing and engineering equipment – floor, wall and ceiling coverings, windows, doors, plumbing, pipes, electrical wiring.
  • Household property – furniture, household appliances, electronics, clothing and other items.
  • Outbuildings – garages, bathhouses, sheds, fences on the plot of a private house.
  • Civil liability to neighbours – if, through your fault, for example a burst pipe, someone else’s apartment is damaged.

For more on the protection options, see the home insurance section.

What is usually not covered

The list of exclusions is determined by the insurance rules of the particular company, so it must be read before signing the contract. Most often insurers do not compensate:

  • natural wear and tear, corrosion, rot and gradual deterioration of structures;
  • damage from deliberate acts of the policyholder or members of the family;
  • damage caused by obviously faulty utilities of which the owner was aware but did not remedy;
  • cash, securities, jewellery and works of art, unless they are included in the contract separately;
  • losses where the terms of the contract are breached – for example, if the home stood empty for a long time without notifying the insurer, where such a condition is provided for.

How to determine the sum insured

The sum insured is the maximum amount of payment under the contract. For real estate it is usually set on the basis of the actual value of the property or the cost of restoring it. If an amount below the real value is stated, the contract may provide for a proportional payment: the insurer compensates the damage in the same proportion as the sum insured bears to the value of the property. Overstating the amount, on the other hand, will not increase the payment above the actual damage.

For household property it is convenient to draw up a list of large items with approximate values and to keep receipts or photographs – this will simplify proving the damage. You can make a preliminary estimate of the policy cost in the home insurance calculator.

Deductible and limits

A deductible is the part of the damage that the policyholder bears. An unconditional deductible is subtracted from each payment; a conditional (franchise) deductible means that losses within it are not compensated, while if it is exceeded the damage is covered in full. A contract with a deductible is usually cheaper. Separately, pay attention to limits for specific risks and items, for example for appliances, valuables or the finishing of a single room.

Features of seismic and flood-prone regions

For Almaty and other territories with heightened seismic activity, it is important to check whether an earthquake is included in the list of risks or is arranged as an extra, and whether a special deductible applies to it. In areas where floods are possible, clarify how the contract treats flooding, inundation by groundwater and flooding from precipitation: these are different events, and insurers describe them differently.

What to do when an insured event occurs

  1. Take measures to reduce the damage: shut off the water, cut the power to the premises, call the emergency services.
  2. Contact the competent authorities: in case of fire – the fire service, in case of theft or vandalism – the police, in case of a leak – the management company or the condominium management body (KSK) to draw up a report.
  3. Notify the insurance company within the period specified in the contract.
  4. Do not start repairs or throw away damaged items until a representative of the insurer has inspected them, unless the contract permits otherwise; take photos and video.
  5. Collect the documents: the contract, reports and certificates of the competent authorities, confirmation of the value of the property.
  6. Submit a claim for payment and keep a copy of it with a stamp of acceptance.

Typical mistakes

  • insuring only the finishing when the main value is the property, or vice versa;
  • an understated sum insured to save on the premium;
  • no liability insurance to neighbours in an apartment building;
  • an unread exclusions section and misunderstood terms – their meanings can be checked in the glossary of insurance terms;
  • missing the deadline for notifying the insurer of what happened.

Frequently asked questions

Do I need to insure a rented apartment?

The owner can insure the apartment itself and its finishing, and the tenant – his or her own property and liability to the owner and neighbours. The parties’ interests are best agreed in advance so that there is no double insurance or gaps in protection.

Can I insure an apartment that is mortgaged?

Yes. For mortgaged housing, insurance is often a condition of the bank, and the bank may be the beneficiary in respect of the risk of loss of the property. Check whether your own interests are protected as well – the finishing, the property and liability to neighbours.

To select a programme that takes into account the type of housing, the region and the risks you need, you can get a consultation from a broker.