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We can assist you in insuring your property against various risks (natural disasters, theft, third party liability). The cost of insurance starts from 50 euros.

 

GENERAL CONDITIONS

 

for insurance of property

 

DWELLINGS AND HOUSEHOLD

 

I.     SUBJECT MATTER INSURED

Under the present General Conditions "Allianz Bulgaria" Ins & Re jsc, hereinafter referred to as "Insurer", insures:

1.   Property being owned or under the responsibility of a physical person hereinafter referred to as "Insured", as follows:

1.1.     immovable property (buildings, incl. existing water-supply, heating, electrical and air conditioning installations); if described in the insurance policy within the immovable property can be included also external items such as fences, pillars, sheds, etc.;

1.2.     movable property inside the insured building (incl. furniture, home appliances and all items used in the household);

1.3.     valuables (incl. jewelry and other items of gold, silver, platinum and precious stones, expensive furs, philately and numismatic collections, works of art, tapestries and antiquities, excl. furniture), securities and cash.

2.   Third party liability of the Insured resulting from insured event affecting the insured property.

 

II.    INSURANCE COVER

 

SECTION "А" - PROPERTY

1.   Subject to indemnity under this insurance are loss of or damage to or expenses related to insured property representing direct result of the events described below while the scope of cover is subject to agreement based on one of the variants for basic, extended, maximum or limited cover.

 

Basic Cover

2.   Perils covered:

2.1.     fire, incl. the consequences of extinguishing thereof;

2.2.     lightning;

2.3.     explosion or implosion;

2.4.     aircraft, incl. cargo or parts falling therefrom;

2.5.     natural perils, incl. storm, hail, torrential rain, flood, snow or ice pressure, freezing, falling trees, branches and other external objects due to storm or hail;

2.6.     sewer water;

2.7.     vehicle or animal impact.

3.   Subject to indemnity are also the additional loss and/or expense incurred by the Insured as result of insured event, as follows:  

3.1.     expenses for minimizing of loss resulting from insured event;

3.2.     expenses for removal of debris and necessary dismantling or demolishing of parts of destroyed or damaged insured property;

3.3.     expenses for relocation, protection and storage of insured property for a period from date of the insured event until eliminating of the consequences thereof but not exceeding 3 months.

4.   The Insurer's liability in respect of certain loss, damage and/or expense is limited according to Chapter III, p. 5.

 

Extended Cover

5.   Subject to indemnity hereunder are loss, damage and/or expense representing direct result from the events as per p. 2, extended with short circuit and over-voltage.

6.   Subject to indemnity are also the loss and*or expense as per p. 3, extended with expenses for hotel accommodation in case the dwelling becomes completely uninhabitable as result from insured event providing the Insured takes all necessary measures for prompt eliminating of the consequences thereof; the cover for hotel accommodation expenses does not include expenses for breakfast, telephone, mini-bar, etc. additional service.

7.   Hereunder are applicable extended limits of Insurer's liability for certain loss, damage and/or expense as per Chapter III, p. 5.

 

Maximum Cover

8.   Subject to indemnity hereunder are loss, damage and/or expense representing direct result from the events as per p. 2, extended with short circuit, over-voltage and water from aquariums and water beds.

9.   Subject to indemnity hereunder are also the loss and/or expense as per p. 3 and 6.

10. Hereunder are applicable additionally extended limits of Insurer's liability for certain loss, damage and/or expense as per Chapter III, p. 5.

 

Limited Cover

11. Subject to indemnity hereunder are loss, damage and/or expense representing direct result from the events as per p. 2, excluding these mentioned in p. 2.5 (natural perils) being not applicable.

12. The Insurer's liability for certain loss, damage and/or expense is limited as per Chapter III, p. 5 as for the Basic Cover.

 

Additional Agreements

13. Providing the cover is specified based on the mentioned above and in case of written agreement between the parties mentioned in the policy or endorsed thereon, and against additional premium paid the cover can be additionally extended also in respect of the following events and/or losses:

13.1.   landslide or collapse of earth mass while loss, damage and/or expense resulting from event being foreseeable as at date of conclusion of the insurance (e. g. landslide in registered landslide area) are not subject to indemnity;

13.2.   earthquake providing agreement for Basic, Extended or Maximum Cover.

13.3.   malicious acts;

13.4.   cover for glass of doors and windows on "All Risks" basis while subject to indemnity are damage and loss resulting from any accidental and unforeseen as at date of concluding of the insurance event except the explicitly excluded as per p. 17, causing breakage of the glass through its entire thikness and/or to damage to constructively attached parts (e. g. joinery, handles, locks, etc.) without glass breakage;

13.5.   loss of rent income for a period from date of the insured event until eliminating of the consequences thereof but not exceeding 3 months.

14. The parties can agree on cover not mentioned under p. 1 - 13 if it is related to the subject matter insured.

15. The insurance cover applies only to property located at the address mentioned in the policy.

16. Except for renewals of expiring policies, with regard to the perils for which the time of occurrence of insured event cannot be proved by a document issued by competent authority for fire and accident safety, hydrology and meteorology, and/or law enforcement the cover is not in force during the first ten days of the policy period. 

17. Exclusions.

17.1.   Under this insurance are not subject to indemnity loss, damage or expense caused to:

17.1.1.            land, perennial plants, crops, animals, birds and fish;

17.1.2.            means for transportation and trailed inventory;

17.1.3. consumables (incl. food, drugs, perfumery, cosmetics, washing substances, etc.) and/or agriculture products;

17.1.4.            external data media (e. g. diskettes, CD, DVD, audio- and video cassettes, etc.) and records thereon, software and printed materials;

17.1.5.            property and materials (except computers and peripherals) used for the production, trade and/or profession of the Insured or the user of the insured property and/or their connected persons in the meaning as per the Insurance Code.   

17.2.   Under this insurance are not subject to indemnity loss, damage or expense resulting from:

17.2.1.            the mentioned under p. 13, if the cover is not agreed in written;

17.2.2.            burglary and robbery;

17.2.3.            storm, hail and/or torrential rain if the damage is caused to movable property left outdoors not by purpose, to not inhabitable buildings and/or to buildings and movable property therein from precipitation, mud, etc., breaking in through not closed windows or openings of the buildings;

17.2.4.            the mentioned with meaning of exclusion in the definitions under p. 18;

17.2.5.            intentional acts of the Insured, the user of the insured property and/or their connected persons in the meaning as per the Insurance Code;

17.2.6.            any act or inaction performed with gross negligence by the Insured, the user of the insured property and/or their connected persons in the meaning as per the Insurance Code while the respective person has been in position to foresee and prevent the occurrence of insured event and/or to reduce the loss due to insured event but has not taken the due care therefor;

17.2.7.            own defect of the damaged or destroyed property (incl. production defect), gradual deterioration (incl. wear and tear, rust, corrosion, damage from microorganisms, fungi, mildew, insects and rodents, processes of slow deformation and destruction, evaporation, loss of weight, shrinkage, change of fragrance, colour, consistence, polish, damage from exposure to light), surface damage due to scratching, dirt and similar;

17.2.8.            loss of income, commercial loss, depreciation, inactivity, delay, penalties, demurrage, interests, exchange rate differences, changes in prices and state receipts, and other indirect or consequential loss of whatever nature (except these following Chapter II, p. 3, 6 and 9, and p. 13.5 as far as the cover is effective, and Chapter VII, p. 11);

17.2.9.            expropriation, confiscation, nationalization, entering into force of any law or regulation, and/or imperative order of authorized body, fines and sanctions;

17.2.10. war or warlike action (no matter whether a war is declared or not ), strikes, civil commotion, rebellion, insurrection, acts of terrorism and sabotage, and other acts with political, ideological, religious and/or social motivation;

17.2.11. nuclear reaction, radiation or contamination and the consequences thereof.

18. Definitions.

For the purpose of this insurance the following definitions of insured events mentioned in p. 1 - 13 will apply: 

18.1.   Fire - burning of matter with flame or smoulder which has appeared at inappropriate place or arisen out of it and is able to spread over due its own energy; hereunder are not covered losses caused by arson (see p. 18.17), exposure to fire or heat (incl. for means conducting fire or heat) with treatment purposes, technological detonations in combustion chambers and damage to contact and other elements of electric devices and installations due to high temperature resulting from short circuit or over-voltage (see p. 18.14).

18.2.   Lightning - electrical discharge between highly electrifiedcloud and the ground (incl. ground objects) with destructive effect due to high values of temperature, electric tension and current.

18.3.   Explosion - sudden release of energy, caused by expansion of gases or vapours resulting in tearing of walls of vessel or supply equipment and sudden equalizing of the inside and outside pressure; hereunder are not covered losses caused by malicious usage of explosive devices and substances (see p. 18.17).

18.4.   Implosion - sudden and burst-like filling up of a capacity in which the pressure is lower than the outside pressure.

18.5.   Aircraft - destruction of or damage to insured property as direct result of impact of parts and/or articles falling from aircraft or of the striking wave caused by aircraft passing the supersonic barrier.

18.6.   Storm - movement of the air with velocity at least 15 m/s while the damage can be caused directly by the storm directly or by objects thrown thereby; the cover hereby includes also loss or damage caused by events like hurricane, windspout, etc., with corresponding wind speed.  

18.7.   Hail - falling of ice grains or pieces.

18.8.   Torrential rain - falling of large quantities of rain for a short period within the parameters shown below:

Period

(min.)

 

Precipitation

(l/sq.m)

 

Period

(hours)

 

Precipitation

(l/sq.m)

 

5

2

1

12

10

4

2

18

15

5

4

27

20

6

8

35

25

7

12

45

30

8

18

52

35

9

24

60

40

10

 

 

50

11

 

 

18.9.   Flood- overflow of large quantities of water due to fast thawing of snow or ice, intensive or prolonged precipitation, raising of water level of river and/or tearing of dams, barrages and other meliorative works.

18.10. Snow or ice pressure - collapse, breakdown or deformation of buildings, fences and other works and equipment due to the weight of the snow / ice irrespective whether caused by large quantities of snowfall or drifting by the wind; hereunder are not covered losses caused by piling due to clearing or other human activity.

18.11. Freezing - loss ofordamage toproperty caused by falling of the temperature of adjacent air below 00 С; hereunder are not covered losses caused by non-observing of storage norms and prescriptions, damage to machinery and equipment which by their nature are exposed to atmosphere influence, and to agriculture products stored outdoors

18.12. Sewer water - leakage from water supply, sewer or heating installations and equipment and devices connected therewith (incl. for air conditioning, solar heating and fire extinguishing); as equal to the sewer water are treated the water vapours and heat-conducting liquids (salts, oils, refrigerating agents, etc.); hereunder are covered damage due to wetting of insured property and as well such to pipelines and equipment and devices connected therewith resulting from freezing or breaking due to other reason providing the Insured and/or the user of the insured property takes the due care for maintenance of the installations in good condition (incl. prompt repairs of defects) and draining in unused buildings or parts of buildings; hereunder are not covered losses due to repair, reconstruction or testing of water supply, sewer, heating and/or fire-extinguishing (incl. sprinkler) installation.

18.13. Vehicle or animal impact - damage to or destruction of insured property caused by contact with road or railway mean for transportation or animal; hereunder are not covered losses caused by means of transportation driven by the Insured or the user of the insured property or their connected persons in the meaning under the Insurance Code, and as well damage to means for transportation, roads or railroads and their equipment.

18.14. Short circuit and over-voltage - electric currentwith parameters exceeding these which the electrical loop is designed for appearing due to occasional connection between two points with different charge, in particular between leads of power supply (sort circuit), or to supply from the power network of electricity with higher tension than the standard one or to induction caused by lightning (over-voltage); hereunder are not covered losses due to faults in electric devices or appliances or electric installation (incl. outworn or damaged isolation, fuses with conductivity above the standard, etc.) which should have been repaired by the Insured.  

18.15. Landslide or collapse of earth mass - breaking off and slow movement of earth mass on slopes and as well swaths tearing off and moving due to their own weight and surface or underground water (landslide) or sudden and quick fall of large quantities of earth or rock mass from mountains or shores caused by profound evaporation of rocks, weakening of their integrity and deep cracking (collapse); hereunder are not covered landslide and collapses in mining enterprises and/or resulting from explosive works or earthwork, subsidence and as well the feature of certain soils to shrink and expand depending on the ground moisture.

18.16. Earthquake - movement of the ground caused by vertical or horizontal seismic waves accompanied with tectonic faults due to release of energy upon destruction of rock solids; unless mentioned to the contrary in the policy or in enclosure thereto, hereunder are not covered damage to unfinished construction, to external items (incl. fences, pillars, sheds, yards, stairs, etc., and items like containers, antennas, etc. permanently attached to the building or the ground) and to frescoes, wall paintings, bas-relieves, etc.; the loss and damage due to earthquake incurred during a continuous period of 72 hours are registered and handled as one insured event.

18.17. Malicious acts - damage to or destruction of insured property by third parties (incl. through arson and/or malicious usage of explosive devices or substances) with no purpose for misappropriation; hereunder are not covered losses caused by persons which with the consent of the Insured or his connected persons in the meaning under the Insurance Code are admitted to the insured property or inhabit premises containing insured property.

 

SECTION "B" - THIRD PARTY LIABILITY

19. Providing agreement between the parties mentioned in the policy or endorsed thereon and against additional premium paid subject to indemnity under this insurance are losses (incl. bodily injury and/or property damage) caused to third parties as result of fire, wetting due to extinguishing of fire or water leakage from the insured premises which the Insured is legally obliged to compensate as for unlawful damage.

 

III.   SUM INSURED / LIMITS OF LIABILITY

1.   Determining.      

1.1.     The Sum Insured of dwellings and household is established in Bulgarian Leva or in free convertible currency for the insured property as a whole and based on its replacement value.

The Sum Insured cannot be lower than the amount coming out after multiplication of the size of the insured dwelling in square meters living area (flats) or spread built-up area (one or two-family houses) by the minimum values of the Insurer, which the latter determines and is entitled to change on annual basis.

1.2.     If a cover for external items (fences, pillars, sheds, etc.) is agreed, these are described in the policy with separate Sum Insured based on their replacement value(s).

1.3.     If the cover as per Chapter II, Section "B" (third party liability) is agreed, the sum insured (limit of indemnity) thereof is 3 000 BGL (three thousand Bulgarian Leva) for any one occurrence and in aggregate for the insurance period unless in the policy is mentioned different limit.  

2.   Over-insurance.

If the Sum Insured of the whole or of part of the property is higher than its replacement value then the Insurer is not liable for the excess over the replacement value.

3.   Under-insurance.

       If the Sum Insured of part of the property (incl. external items) is described in the policy separately and is lower than its replacement value the Insurer owes indemnity only for part of the losses proportionate to the ratio between the Sum Insured and the replacement value.

4.   If an indemnity for partial loss is paid and except in case of additional reinstatement insurance for the remainder of the policy period then the Sum Insured of the damaged property is reduced with the amount of the paid indemnity.

5.   Limits of Liability.

The Insurer's liability in respect of property and/or expenses mentioned below is limited as follows:

5.1.     Loss or damage to movable property as per Chapter I, p. 1.2 - 30 % (thirty per cent) of the total Sum Insured.

5.2.     Loss or damage to valuables, securities and cash as per Chapter I, p. 1.3 - 5 % (five per cent) of the total Sum Insured. The Insurer's liability in respect of the items mentioned below in case they are not kept in metal case weighting over 200 kg or built-in is additionally limited as follows:

5.2.1.  In case of agreed Basic Cover -

-         cash - 300 (three hundred) Bulgarian Leva;

-         securities - 500 (five hundred) Bulgarian Leva;

-         jewelry, items of gold, silver, platinum and precious stones, philately and numismatic collections - 1.000 (one thousand) Bulgarian Leva.

5.2.2.  In case of agreed Extended Cover -

-         cash - 500 (five hundred) Bulgarian Leva;

-         securities - 1.000 (one thousand) Bulgarian Leva;

-         jewelry, items of gold, silver, platinum and precious stones, philately and numismatic collections - 5.000 (five thousand) Bulgarian Leva.

5.2.3.  In case of agreed Maximum Cover -

-         cash - 1.000 (one thousand) Bulgarian Leva;

-         securities - 2.000 (two thousand) Bulgarian Leva;

-         jewelry, items of gold, silver, platinum and precious stones, philately and numismatic collections - 10.000 (ten thousand) Bulgarian Leva.

5.3.     Loss or damage caused by short circuit or over-voltage in case of agreed Extended or Maximum Cover - 3 % (three per cent) of the total Sum Insured.

5.4.     Expenses for minimizing of loss resulting from insured event,  removal of debris, relocation, protection, storage, etc., as per Chapter II, p. 3, 6 and 9 - 5 % (five) of the total Sum Insured.

5.5.     Expenses for hotel accommodation as per Chapter II, p. 6 and 9 -

5.5.1.  in case of agreed Extended Cover - for a period not exceeding 60 (sixty) days and for not more than 1,5 %о (one point five per mille) of the total Sum Insured per days;

5.5.2.  in case of agreed Maximum Cover  - for a period not exceeding 90 (ninety) days and for not more than 2 %о (two per mille) of the total Sum Insured per day.

 

IV.  CONCLUSION, ENTERING INTO FORCE AND PERIOD OF THE INSURANCE

1.   The insurance is concluded based on written proposal of the Insured wherein the latter is obliged to state all considerable circumstances which are known or providing due care should be known to him and are important for risk evaluation. The Insurer is entitled to carry out a survey of the property proposed for insurance.

2.   The insurance is concluded in the form of insurance policy an integral part of which are the Insured's proposal, the General Conditions of the insurance, Special Conditions, endorsements and other written agreements between the parties, if any.  

3.   The insurance is in force after signing of the policy by both parties, providing existing insurable interest and insurance premium paid as agreed.

4.   In case of ascertained false statement or non-disclosure on the part of Insured of circumstances under which the Insurer would not conclude the insurance or would conclude it under different conditions the latter is entitled to:

4.1.     In case of intentional false statement or non-disclosure - to request for changes in the insurance conditions (incl. limitation of the cover and/or additional premium), to cancel the insurance and/or to refuse indemnity with observance of Art. 189 of the Insurance Code.

4.2.     In case of unintentional false statement - to request for changes in the insurance conditions, to cancel the insurance and/or to reduce indemnity with observance to Art. 190 of the Insurance Code.

5.   The insurance (policy) period is 12 (twelve) months unless otherwise agreed in the policy.

6.   During the policy period the Insured is obliged:

6.1.     to take all necessary measures for preventing of insured event;

6.2.     to take good care for the insured property and not to undertake considerable changes in it, incl. through third parties, without the knowledge and consent of the Insurer;

6.3.     to inform the Insurer about all planned changes affecting insured property not later than 24 hours prior to their beginning;

6.4.     immediately to disclose to the Insurer all new circumstances with considerable importance for risk evaluation while the Insurer is entitled to request for changes in the insurance conditions; in case of non-disclosure the Insurer has the rights as per p. 4;

6.5.     to observe the regulations, rules and requirements of the competent authorities, incl. for fire and accident safety, for storage, usage and maintenance of the insured property;

6.6.     to give to the Insurer access for survey of the insured property and to fulfill latter's prescriptions for improving of the risk factors.

7.   If the Insurer does not fulfill his obligation under p. 6 and depending on the effect thereafter on the probability for loss, the Insurer is entitled to request for changes in the insurance conditions, to cancel the insurance pre-term, to reduce or to refuse indemnity.

8.   If during the policy period the property is transferred then the cover remains in force providing the Insurer is informed and the validity of the insurance in favour of the transferee is confirmed in written.

9.   Changes and amendments.

       The changes in the insurance conditions agreed during the policy period will be stipulated in endorsements to the policy representing integral part thereof and signed by both parties.  

10. Pre-term cancellation.

10.1.   The insurance can be canceled by each party through written notification with term of 15 days as from date of receipt.

10.2.   The insurance is automatically canceled at expiry of the insurable interest (except for cases as per p. 8).

 

V.   INSURANCE PREMIUM

1.   The insurance premium is established based on the Insurer's tariffs.

In case of policy period shorter than 12 months a short-term tariff applies.

2.   If during the policy period the insurance is extended to include additional property and/or cover then the additional premium is established pro-rata to the remainder of the policy period.

3.   Premium payment.

3.1.     The insurance premium is paid in full on handing the policy unless otherwise agreed.

3.2.     Providing agreement between the parties mentioned in the policy or endorsed thereon the premium can be paid in deferred installments during the policy period.

3.3.     In case of insured event the Insurer is entitled to deduct the non-paid deferred premium installments from the due indemnity.

4.   Insurance premium in case of pre-term cancellation.

4.1.     If the insurance is canceled by the Insurer the latter is entitled to a part of the total premium proportionate to the utilized part of the policy period.

The Insurer is entitled to the full amount of paid premium in the cases as per Chapter IV, p. 4.1 and p. 10.2, providing the Insured has known or should have known about the absence of insurable interest, Chapter VII, p. 14, and as well if there is paid or outstanding claim(s) under the insurance.

4.2.     If the insurance is canceled by the Insured the latter is entitled to the difference between the total premium and the premium for the utilized part of the policy period calculated under short-term tariff providing there are neither paid, nor outstanding claims.

5.   If the Sum Insured is established in free convertible currency then the premium is established in the same currency and payable in Bulgarian Leva according to the fixing rate of Bulgarian National Bank as at date of payment.

6.   If the Insured does not fulfill his obligation for premium payment then the Insurer is entitled to reduce the Sum Insured, to change the insurance conditions or to cancel the insurance with observance to Art. 202 of the Insurance Code.

 

VI.  ACTION DUE BY THE PARTIES AT INSURED EVENT

1.   At occurrence of insured event the Insured is obliged:

1.1.     immediately to notify the competent authorities, incl. for fire and accident safety and/or police department;

1.2.     to take all reasonable measures for minimizing and/or reduction of loss, salvage and safekeeping of the insured property or the remainders thereof;

1.3.     to notify the Insurer without delay and not later than 3 (three) days after learning about the event;

1.4.     to submit to the Insurer all the known information about the event;

1.5.     to keep the damaged property for survey by the Insurer unless a repair and/or other changes are necessary with purpose for minimizing of the loss; in case that within 5 working days after the notification as per p. 1.3 the Insurer does not carry out a survey then the Insured is entitled to start the necessary repairs and/or changes while keeping the insured property or the remainders thereof at Insurer's disposal;

1.6.     to protect the rights of the Insurer against third parties liable for the losses incurred.

2.   The Insurer is entitled to give instructions related to determining of reason for the event, elimination of the consequences therefrom, additional security measures for the insured property, etc. in this respect, which do not mean agreement for indemnification. The Insurer's instructions are obligatory for execution by the Insured.

3.   The Insured is obliged to prove his and/or Beneficiary's insurable interest and to submit the evidence and documents requested by the Insurer with regard to determining of the event and the amount of loss, incl. documents issued by competent authorities, survey protocols, expert statements, invoices, payment orders, accountancy statements, etc. depending on the particular case.

       At request the Insured is obliged to prove also actually effected replacement of the property and the expenses thereof.

4.   If the Insured does not fulfill his obligation under Chapter VI, the Insurer is entitled to reduce or to refuse indemnity and/or to cancel the insurance pre-term.

 

VII. INSURANCE INDEMNITY

1.   The indemnity amount is determined by Insurer's representatives and/or by expert. In case the Insured disagree with the determined indemnity the latter is entitled on own account to assign the loss adjustment to another expert. In case of different adjustments the parties jointly choose and assign the adjustment to a third expert whose statement is final.

2.   The indemnity amount for the whole insured property and as well for each part thereof cannot exceed the replacement value of the property as at date of the insured event, nor the respective Sum Insured or limit of liability, if agreed.

3.   The indemnity is established based to the level of correspondence between the Sum Insured and the replacement value of the damaged or destroyed property as at date of the insured event according to Chapter III.

4.   In case of partial loss the indemnity cannot exceed the expenses for restoration of the damaged property in its condition as at date of the insured event.

5.   Total loss.

5.1.     In case of total loss the Insurer owes indemnity equal to the replacement value of the destroyed property as at date of the insured event and is entitled to receive the ownership on the remainders thereof or to deduct their value from the indemnity.

5.2.     In case of constructive total loss (partial damage due to which the indemnity for repairs and restoration works would exceed 80 pct of the replacement value of the damaged property as at date of the insured event) the Insurer owes indemnity equal to the value of the damaged property, providing received ownership thereon (applicable only for movable property), or 80 pct of the value of the damaged property, if it remains under Insured's ownership. 

6.   The Insured bears on own account the losses within the deductible mentioned in the policy.  

7.   If the Insured receives indemnity from persons liable for the losses incurred then the liability of the Insurer is reduced with the same amount.

8.   If the damaged property is insured with more than one insurer then the present Insurer owes indemnity only for a part of the loss proportionate to the ratio between the Sum Insured under this insurance and the total of Sums Insured under all insurances.

9.   The insurance indemnity is due in term of 14 days after determining the reason and amount of loss, incl. after submitting of the evidence and documents under Chapter VI, p. 3, unless in cases as per Art. 107 (3) of the Insurance Code a longer term is objectively needed. The Insurer is not liable for delays due to circumstances out of his control.

10. If the insurable interest and the reason for the claim are proved then at Insurer's discretion can be effected partial advance indemnity payments prior to the final settlement as per p.  9.

11. If the Sum Insured is established in free convertible currency the losses containing foreign currency component are indemnified in Bulgarian Leva as per the fixing rate of Bulgarian National Bank at date of payment.

12. If the Insured is not owner of the destroyed or damaged property then the indemnity is payable in favour or according to the instructions of the owner.

13. If agreed between the parties, besides through indemnity payment the claim can be settled also through repair and/or replacement of lost or damaged property effected by the Insurer or by third parties under Insurer's order.

14. If the Insured or his authorized representative claims for indemnity under this insurance being aware that the claim is based on untrue data with regard to its reason or amount then all indemnities will be refused and the insurance - canceled, without refund of insurance premium.

 

VIII.     SUBROGATION

1.   If the losses are caused by third parties then the Insurer enters into the rights of the Insured against them up to the amount of paid indemnity and claims handling expenses.

2.   The Insured's waiver of rights against third parties has no force towards the Insurer.

 

IX.  OTHER CONDITIONS

1.   Concluding this insurance the Insured gives a consent for the submitted personal data to be processed and transferred by the Insurer for purposes of this insurance, for statistical purposes and as well to other companies within Allianz Bulgaria Holding jsc for presenting of other products and services. 

2.   The present General Conditions can be changed or amended through written agreement between the parties mentioned in the policy or endorsed thereon.

3.   In respect with all matters unsettled in the present General Conditions the Bulgarian legislation will apply.

4.   The disputes between the parties which cannot be settled through negotiations are to be brought for settlement before the competent Bulgarian court.

 

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