PROPERTY
HOME INSURANCE
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For all of us, the warmest place in the world is our HOME, where we create and cherish life’s happiest moments. With Home Insurance, you can be confident that your home is protected.
Unforeseen damages in our apartments or houses can lead to both property and financial losses. Pipe leaks, bathroom and sewage system failures, short circuits, and the risk of theft can be a constant concern.
To safeguard you from these risks, EFES offers a unique Home Insurance solution.
With this product, residential apartments and houses can be insured. The insured properties must be located within the Republic of Armenia.
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The contract is valid for 1 year and takes effect on the 7th day after signing.
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Compensation can be received either in cash or in-kind.
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EFES organizes property repair or payment through a partner company contracted with the insurer.
WITH WHOM IS THE CONTRACT SIGNED?
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The insurance contract is signed by the owner of the apartment or private house or another person who has a property interest (for example, with the tenant).
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According to the contract, the beneficiary is the owner.
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Fire
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Explosion
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Damage from water
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Glass breakage
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Natural disasters, except earthquakes
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Liability to third parties
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Damage caused by animals
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Illegal actions of third parties
The insurance premium depends on the type of house, whether it is an apartment or a private house, the area and the purpose of use (personal or rental).
A Few Facts About the Current Situation in Armenia
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The temperature is rising year by year, increasing the risk of fires.
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In winter, the heating system being on raises the likelihood of accidents.
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Old electrical wiring leads to short circuits.
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Worn-out pipes in buildings cause water leaks.
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During strong winds, we witness roofs being blown off.
COVERAGE INCLUDES THE FOLLOWING RISKS
PROPERTY COVERAGE INCLUDES
APARTMENTS
Home
≥201 20,000,000 15,000,000 3,000,000 74,000
HOUSES
201 ≥ 20,000,000 15,000,000 5,000,000 3,000,000 84,700
≥301 30,000,000 20,000,000 6,000,000 5,000,000 114,400
A 20% surcharge is applied to the insurance premium for the houses used for rental purposes.
The sum insured includes sub-limits such as:
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In the case of valuable property, the maximum amount of compensation per accident is AMD 500,000.
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The maximum amount of compensation per piece of movable property is AMD 300,000
What sub-limits apply?
Movable Property (including glass items and valuables), where the sub-limit is 300,000 AMD per household item
Valuable Property under the movable property category, with a total insurance amount/limit of 500,000 AMD per incident.
HOW MUCH IS THE NON-COMPENSABLE AMOUNT?
The insurance contract is concluded with the owner of the apartment or house or another person with a vested interest in the property (e.g., a tenant). The beneficiary under the contract is the owner.
WITH WHOM IS THE CONTRACT SIGNED?
The insurance contract is concluded with the owner of the apartment or house or another person with a vested interest in the property (e.g., a tenant). The beneficiary under the contract is the owner.
Insurance premium can be paid:
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In a lump-sum
Quarterly (In case the insurance premium exceeds 80,000 AMD)
In the case of installment payments of the insurance premium, the total insurance premium increases by:
Semi-annually (In case the insurance premium exceeds 40,000 AMD)
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For semi-annual payment: 5%
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For quarterly payment: 10%
TO SIGN A CONTRACT, THE FOLLOWING ARE REQUIRED:
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Property ownership certificate and, if applicable, a lease agreement,
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Policyholder's identification documents,
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Policyholder's contact details.
In case of an accident
It is necessary, at the first available opportunity, to:
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Notify the relevant authorities (in case of fire or natural disasters, call the Ministry of Emergency Situations at 911; in case of theft, call the Police at 102, etc.),
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Call the insurance company at +374 10 700 800,
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Take all reasonable and available measures under the given circumstances to prevent further damage to the insured object and minimize the extent of the loss.