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PLATINUM EXPRESS

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Standard apartment insurance package (“Platinum Express”) can be bought, if the value of apartment:

• is within $300,000 including walls, finishings, equipment and movable property
  or
• is within $60,000 including finishings, equipment and movable property (i.e. without walls)..

In apartments you may insure:

1. Supporting structures: the “box”, i.e. walls and ceilings.
2. Finishings and engineering equipment:
1. internal finishings – floor, walls and ceiling coating, doors and windows, built-in kitchens, built-in closets, attics, chimneys, stoves;
2. equipment – bathroom appliances, sewage system, hot and cold water supply, heating, electricity and gas supplies, saunas, swimming pool, water purification and softening systems, telecommunications, burglar and fire alarms, video surveillance system, ventilation and air conditioning systems, dishwashers, built-in kitchen appliances and filters, wiring products, etc.
3. Movable property:
1. furniture: room, kitchen and other furniture, etc.;
2. appliances: audio-, video-, electronic appliances, electronic music instruments, household appliances, etc.;
4. Civil liability: harm to life/health and damage to third parties' property.

Which risks can be insured:

• “fire” – appearance of fire as well as effect on the property of combustion products, high temperature or legal actions to extinguish the fire, which were all the result of this fire. This also includes the use of automatic fire-fighting systems;
• “explosion” – explosion of gas pipelines, gas boilers and other containers for storage, transportation and processing of utility and industrial gas, or explosive materials;
• “damage by water” – effect on the property of water or other liquid from the water supply, sewage, heating, cooling systems or air conditioning systems, or water invasion from adjoining premises not owned by the Policy-holder;
• “mechanical damage” – runover of vehicles on the property, docking impact, tumbledown of aircraft, trees, construction cranes, capital repair or rebuilding of premises not owned by the Policy-holder, etc.;
• “unlawful actions of third persons” – theft, vandalism or deliberate destruction or damage of property, including arson, explosion or any other dangerous method;
• “natural disasters” – earthquake, storm, tornado, hurricane, stroke of lightning, flood, etc, if these phenomena are deemed dangerous by the body of the Federal hydro meteorological service or the Emergency Situations Ministry;
• “terrorist attack”.

Real-life story: A client insured his country house under the full package insurance policy. Once, when he was absent, thieves got into his house. Since it was early winter and there were no neighbors nearby, the thieves took everything they could. They not only took the movable property, but also dismantled and took bathroom appliances (toilet bowls and sinks). Due to this vandalism, the water pipes burst and by the time the owner came home everything that was left after the thieves was flooded. If the house was only insured against the “unlawful actions of third persons”, the client would only be compensated for broken doors and stolen property. Swollen parquet and other damages from flood would not be covered because they are under provisions of “damage by water” risk. But the house was insured under the full package and Ingosstrakh compensated all losses.

Civil liability is always insured under full package of risks (infliction of harm to life/health and damage of property of third persons).

Standard alternatives of apartment insurance (“Platinum Express”):

• without exact evaluation of value of property and without inspection  - no pictures are required when insuring the apartment;
• mobile – there is no need to come to our office to sign the insurance contract as you can call us by phone and the agent will come at a time, which is convenient for you;
• fixed cost under the “All included” system – full list of insurance risks (fire, explosion, natural disasters, water damage, mechanical damage, wrongful acts of therd persons, a terrorist act);
• only the insurance policy is filled out – there is no need to fill out application for insurance, attach description of premises, etc;
• full compensation of damage according to real value of damaged object (within the limits of sum insured);

Example: You have decided to insure apartment worth $120,000 for a sum of $40,000. With regular insurance, if your $300 door is damaged, you will receive compensation for 1/3 of the damage (40,000 / 120,000), or $100. If the sum insured is less than the real value of the apartment by several times, damage compensation will be less than the real value of damaged object by the same ratio. But if you have “Platinum Express” insurance you will receive the full $300 for the damaged door.   

• there is an opportunity to cancel restrictions on payouts for movable property objects – on your request, maximum sums can be paid for damages done to furniture and appliances (the size of real value, within the limits of sum insured under “Movable property”) – simply draw up a list of extra valuable objects of furniture and appliances. Without filling out the list, each object will be automatically insured for a sum of up to 10% of sum insured under “Movable property” in your apartment;
• any quantity of accidents in the course of insurance contract’s duration until the whole sum insured is exhausted.

Ingosttrakh offers Additional service* for those who buy full insurance package for the supporting structures, finishings, equipment and movable property:

• complex cleaning of premises and urgent repair of windows and doors in case third persons have penetrated the territory of your property.
• payment of up to $3,000 of temporary housing expenses if the residence is deemed temporarily unusable.

* This service is provided in Moscow and Moscow Region only.