The object of real estate insurance is indemnification of damage caused to and pertaining to a building. A building can be insured against risks identified by name or damage arising from an unexpected event, subject to certain exceptions.
Seesam offers Real Estate Insurance and Extended Real Estate Insurance.
Real Estate Insurance is an insurance solution for risks identified by name (fire, lightning strike, explosion, engagement of the fire extinguishing system, robbery, break-in, intrusion, vandalism, pipe leakage and storm).
Extended Real Estate Insurance is based on the principle of all-risks insurance. Direct material damage suffered by an insured object due to an unforeseen and sudden event is indemnified on the basis of all-risks insurance. Restrictions set out in the terms and conditions of insurance are applicable.
Indemnity for the loss of rental income resulting from a loss event is offered in the form of additional cover to owners receiving rental income, under the basis of insured risks. The maximum indemnity for the loss of rental income included in the product is 0.75% of the sum insured for the building per month, and the indemnity is paid within 6 months after the loss event. If the rental income of the owner is higher, it must be additionally insured, based on the Terms and Conditions of Business Interruption Insurance.
Another additional coverage is indemnification of the lock system’s replacement costs, if the building's master key has been stolen or lost as a result of a break-in and the lock system needs to be replaced in order to prevent further losses. The costs of the lock system shall be indemnified to the extent of EUR 1300.
Real Estate Insurance also offers liability insurance, through which any damage caused to a third party due to the maintenance, administration or possession of a building can be indemnified.