You are the new owner of a real estate in Bulgaria or you have just paid the deposit for a new development due to be ready in several months! In both cases it is advisable that you insure the property against loss/damage from specific events e.g. fire, theft, storm and flood or your home contents.
    We from Bulgarian Property Ltd. work with experienced insurer Bulstrad Plc. one of the leading companies on the Bulgarian insurance market. Bulstrad Plc was incorporated on 31 July 1961 by Decree No 155 of the Council of Ministers and was the first joint stock company in Bulgaria. In the years of state monopoly on the insurance activities, the Company has specialized in aviation, marine, cargo, construction risks insurance, as well as other insurance lines servicing the foreign economic activities and international commerce. The Company has close business relations with leading insurance and reinsurance companies from Great Britain, France, Germany, Switzerland, Italy, the USA, Japan and the Scandinavian countries.
    

Property Insurance in Bulgaria

    The property insurance provides protection for real property and related interests of legal entities and sole traders as well as personal property of individuals.
    Bulstrad can offer large variety of insurances for your home, office, shop, hotel, manufacturing enterprise or construction site and the related business interests or liabilities: Combined Fire Insurance, Combined Hotels Insurance, Combined Insurance for owners/tenants of shops and offices, Theft Insurance, Money Insurance, Household Property Insurance, Electronic Equipment Insurance, Cable Television Customers Insurance, Construction and Erection Risks Insurance.
    

Combined Fire Insurance

    All company managers run the risk of various unfavourable events, which may cause serious property damage and difficulties in performing their activities. The concept that "it will not happen to us" is totally wrong and quite often the ordinary precautionary measures turn out to be insufficient. Therefore a prudent manager will look for a reliable partner to help him in such a situation. Bulstrad Plc provides insurance cover against:

    Property Damage

    The Combined Property Insurance of Bulstrad Plc provides insurance cover for buildings, plant, machinery, production output, goods, stock and other property against loss or damage, resulting from:

• Fire, including the consequences from extinguishing the fire, explosion, stroke of lightning and impact from aircraft
• Natural disasters, such as storm, hurricane, hail and flood
• Landslide or subsidence
• Falling trees and branches, resulting from natural disasters
• Pressure from natural drifts of snow and ice
• Escape of water resulting from damage to pipes and drains
• Malicious act of third parties (vandalism)
• Impact from motor vehicle or animal

    Bulstrad covers additional expenses:

• for removal of debris, dismantling or demolition, fencing or consolidating, architects' and experts' fees

    The following additional risks are covered in combination with the above:

• Burglary
• Earthquake

    And additional coverage is offered against:

• Business Interruption
• Liabilities
• Machinery breakdown and others.

    Business Interruption

    Insurance cover is provided under a separate clause within the Combined Property Damage policy against loss of gross profit (net profit plus standing charges) resulting from interruption of business caused by an insured event.
    The amount payable as indemnity shall be:

• in respect of reduction of turnover
• in respect of additional expenditure necessarily and reasonably incurred for the sole purpose of avoiding and diminishing the reduction in turnover

    The period of indemnity is optional and can be respectively:

• 6 months
• 12 months
• 18 months
• up to 24 months
• other, upon agreement

    The sum insured depends on the financial results of the company and shall reflect the estimated gross profit at risk in the course of the indemnity period.
    

Combined Hotels Insurance

    The Combined Hotels Insurance of Bulstrad Plc was designed for owners or tenants of hotels, vacational villages and places for recreation and entertainment. It provides them with insurance protection for buildings, sports and infrastructural facilities, contents, fixtures and fittings, stock and others against:

• fire (including the consequences of extinguishing the fire), explosion, stroke of lightning, impact from aircraft or other aerial device, or any parts or cargo falling therefrom
• storm, hurricane and hail; flood, falling trees and branches as a result of natural disasters
• andslide and subsidence
• pressure from natural drifts of snow and ice
• escape of water, resulting from damage to pipes and drains
• malicious damage of third parties
• impact from motor vehicle or animal

    Bulstrad Plc will also recover:

• the expenses incurred for debris removal, dismantling or demolition; fencing or consolidating; architects' and experts' fees

    Additional cover is provided in combination with the above for:

• liability to visitors and guests
• personal belongings
• temporary removal of property
• machinery breakdown, explosion of boilers and machinery under internal pressure
• glass, mirrors, neon signs and sanitary fixtures
• deterioration of goods in refrigerator or freezer
• goods in transit
• >money
• employer's and tenant's liability
• personal accident
• theft and burglary (in a separate insurance policy)

    

Combined Insurance for owners/tenants of shops and offices

    This Combined insurance of Bulstrad Plc provides insurance protection to owners/tenants of shops and offices, warehouses, fast food, medical or dental surgery, travel agencies etc. in respect of their buildings, fixtures and fittings, stock, shop fronts, office equipment etc. against:

• fire (including the consequences of extinguishing the fire)
• explosion of vessel under pressure
• storm, hurricane and hail; flood; falling trees and branches as a result of natural disasters
• escape of water, resulting from damage to pipes and drains
• malicious damage of third parties
• impact from motor vehicle or manned aerial device, or any parts or cargo falling therefrom

    In addition to the above Bulstrad insures the risks of:

• theft
• earthquake

    As well as:

• money in safe
• employer's and tenant's liability
• liability to clients and visitors
• glass
• buildings
• deterioration of goods in refrigerator or freezer
• goods in transit

    and others.
    

Theft Insurance

    Insurance indemnity is paid in case of armed robbery or theft of insured property by way of destruction, damage or undermining of fences and walls soundly built up to protect people or property. Insurance cover is provided either as a separate policy or as additional clause under the Property Damage insurance.
    

Money Insurance

    Bulstrad Plc will provide insurance cover against all risks for loss or damage to money kept:

• in safe or cash register in the working hours
• in safe out of the working hours
• in a bank vault

    Money in transit, conveyed by special cash carrying vehicles escorted by safeguards and authorised employees of the insured.
    

Household Property Insurance

    For most people the purchase of their own home and its furnishing is the most important investment in their life and certainly this investment must be protected. However, in many cases the usual precautionary measures may turn out insufficient. Bulstrad offers its clients two insurance products in order to provide them with most comprehensive insurance protection:

    Household Property - Flats

    Against payment of BGN 25 the standard Household Property insurance of Bulstrad will protect your home and its contents against:

• fire (including the consequences of extinguishing the fire)
• explosion of vessel under pressure
• natural disasters - storm, hurricane and hail, flood, including falling trees and branches
• escape of water, resulting from damage to pipes and drains
• malicious damage of thirds partie (vandalism)
• impact from motor vehicle or manned aerial device, or any parts or cargo falling there from
• theft

    In case of an insured event, resulting from some of the above-mentioned risks Bulstrad Plc will be liable up to:

• BGN 10 000 for damage to the building (the house)
• BGN 3000 for damage to the contents (household belongings)
• BGN 2000 for theft of personal property

    Important!
    Against payment of additional premium the insured may obtain:

• Higher sum insured than those specified above

    and/or additional cover against:

• earthquake
• third party liability
• expenses incurred for alternative lodging
• loss of rental income

    Household Property - Houses

    Covered under the policy are the residential building, as well as farm buildings and other premises of special type and the adjoining fences, gates, swimming pools etc.
    The basic cover provides insurance indemnity for loss or damage resulting from:

• fire (including the consequences of extinguishing the fire)
• explosion of vessel under pressure
• impact from motor vehicle or manned aerial device, or any parts or cargo falling therefrom

    Against payment of additional premium the following risks can be covered as well:

• storm, hurricane
• hail
• flood
• falling trees and branches
• pressure from natural drifts of snow and ice
• escape of water resulting from damage to pipes and drains
• malicious damage of third parties (vandalism)
• impact from animal or motor vehicle, not belonging to the insured
• theft
• earthquake

    

Electronic Equipment Insurance

    Bulstrad Plc insures electronic equipment used for commercial or industrial purposes, against material loss or damage, or expenses, resulting from any sudden, unforeseen events, such as:

• man-made - negligence, untrained or improper handling, malicious damage of third parties, theft or burglary
• Fire - all kinds of explosion, implosion, stroke of lightning, damage caused by extinguishing, demolition or clearance of any damage caused by such events
• Water - tap water, tidal water, flooding, rain water, steam, moisture, corrosion
• Natural disasters
• Technological errors in construction, material defects, manufacturing discrepancies, overvoltage

    Bulstrad will indemnify the insured for loss of or damage to:

• equipment installed in the premises
• movable and portable equipment outside the insured premises within specified territorial limits

    The scope of the insurance may be extended to cover:

• Data media (including the information stored thereon) if damaged or destroyed by any of the above events, so that it is neither machine-readable nor able to store data, or if lost as a result of theft or burglary
• Additional expenses made in order to continue operation after occurrence of an insured event, including expenses for external equipment, alteration of the normal working procedure, hiring of extra staff, external services etc.

    

Cable Television Customers Insurance

    Insured under this insurance policy is the TV set (one or more than one). The risks covered are: theft, fire, stroke of lightning, short circuit or overvoltage.
    

Construction and Erection Risks Insurance

    Investors, contractors or subcontractors may insure any public, industrial, engineering or private building sites under the Construction and Erection Risk insurance of Bulstrad Plc.
    The subject matter insured comprises:

• the whole building site, the construction works, performed under the contract
• materials
• plant and machinery
• the investor's or contractor's legal liability for property damage or bodily injury caused to third parties

    Bulstrad Plc will pay indemnity in case of:

• loss of or damage to the insured property, resulting from all risks of any sudden unforeseen events, except those explicitly excluded
• damage caused to the health, life or property of third parties

    Additional cover is provided by Bulstrad Plc for:

• Loss or damage, resulting from strike, riot and civil commotion.
• Extended maintenance of construction works
• Extra charges for overtime, night work, work on public holidays, express freight
• Damage due to earthquake
• Property in off-site storage.
• Damage to underground cables, pipes and other facilities
• Designer's risk
• Vibrations, removal or weakening of support

    If you need to know more about of Bulstrad Plc. please click here.