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Protected property insurance

The Protected property insurance

is specifically developed product, providing insurance cover for the property of Bulgarian and foreign physical persons and legal entities, which perform manufacturing or non-manufacturing activities.


Covered under the policy is any property belonging to the insured or legally rented or held in care or in custody or control by the insured, including:

  • Real property –  industrial and non-industrial buildings;
  • Movable property – plant, machinery and equipment; computers, audiovisual and office equipment, means of transport, farm equipment, expenses for acquisition of fixed tangible assets, other fixed tangible assets, works of art;
  • Stock-in-trade:  goods; materials and raw materials, semi-finished products, production;
  • Movable and immovable property of other parties located on the insured site, which are owned by third parties and are lawfully held in care or in custody or control of the insured.
Under special conditions of insurance Armeec JSC covers:
  • electronic equipment;
  • machinery breakdown;
  • business interruption;
  • deterioration of goods in refrigeration chambers due to fluctuation in temperature of storage  etc.;
  • money in safe or in vault;
  • war risks, riots, strikes, civil commotion and unrest, sonar waves, terrorism and sabotage.

The Protected property insurance covers property up to sum insured of BGN 1,000,000.

The following risks are covered:
  • fire and the consequences of its extinguishing, lightning, explosion and implosion, impact of aircraft or objects and parts falling therefrom;
  • natural disasters (storm, hurricane, falling trees and branches, torrential rain, flood, damage from pressure due to natural drifts of snow or ice, avalanche; subterranean water or sea waves; landslide and landslip; hail; frost;
  • impact of motor vehicle or animal; breakdown of elevating machines; damage to property during transportation from one location to another by own or rented vehicles; sudden leakage of water from sprinkler installations; breakdown of plumbing, sewerage, heating and air-conditioning installations; short circuit and current rush;
  • earthquake;
  • burglary;
  • theft by use of technical device;
  • vandalism, incl. arson and malicious explosion;
  • robbery;
  • loss of rental income;
  • public liability of the insured, resulting from the occurrence of a risk covered under the policy;
  • debris removal; transfer and storage of insured personal property; fees of experts, engineers and architects;
  • broken glass, shop windows, advertising signs.
The sum insured

is fixed by the insured on the basis of the carrying amount, book value, real value or any other sum stated by the Insured. The sum insured in respect of some type of property or risks covered can be determined as an agreed limit of liability. In this case the insurance shall be on a first risk basis.

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