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“PASHA Insurance” has launched new “Insured Baku” project

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Comfortable life in Insured City

For every one of us our city is a big home and we all deserve a peace of mind for our homes, villas and business properties. It is very hard to predict potential incidents that may happen and at the same time it is our duty to eliminate all possible outcomes of such accidents. Helping those in need in times of difficulty is one of the main values of Azerbaijani people.

Based on this value “PASHA Insurance” calls up on everybody to insure their property.

Mandatory Property Insurance within “Insured Baku” Campaign

Main objective of Mandatory Property Insurance is to provided “Pasha Insurance” cover of the damage caused by fire or other incidents

Why you must insure your property?

Flooding, fire, landslide, lightning and mainly earthquakes (considering that our country is located in tectonic area) and other catastrophic incidents are not rare in Azerbaijan. In order to avoid huge loses as consequences of such natural disasters it is a must to insure your property as it is one of the most valued material benefits that we have.

Insurance amount, deductible and cost of insurance for private house and flats

The table below shows the conditions for insurance of private property in Baku


Cost of Insurance: 50 AZN

Duration of Insurance: 1 year

Amount of insurance: 25 000 AZN (complete cover of damages up to 25 000 AZN without deductible)

Deductible: 250 AZN



What does Mandatory Property Insurance covers?

Incidents listed below that caused damage, destruction or loss in any ways are covered by insurance

·         Fire, Lightning

·         Gas explosion in household or in production

·         Electric cable shortages

·         Explosion of gas chambers, gas lines, machinery, apparatus or any other similar equipment

·         Accidents in heating, sewage, water lines and fire prevention systems, flooding

·         Collapse and destruction

·         Accidents with on ground transport

·         Natural disasters: earthquakes, volcano eruptions, tornado, hail, landslide


Benefits of insurance in “PASHA Insurance”

-          Payout in short time

-          24 Hour guaranteed customer service

-          Reliable and leading insurance company in the country


Law on Mandatory Property Insurance


“Mandatory Property Insurance” is included in the Second Chapter of “the Law on Mandatory Insurance of Azerbaijan Republic”

Ø  According to Article 35.2 of “the Law on Mandatory Insurance of Azerbaijan Republic” all buildings, private houses and flats in possession private and legal entity, and also property belonging to the state bust be insured

Ø  In accordance with the Decree of The President of Azerbaijan Republic Ilham Aliyev changes were made into the “Charter of Local Executive Powers” and supervision of execution of “the Law on Mandatory Insurance of Azerbaijan Republic” was given to Local Executive Powers.

Ø  According to “the Law on Mandatory Insurance of Azerbaijan Republic” buildings constructed in forbidden areas, those with orders from state or local executive powers to be demolished, unfinished construction and wrecked buildings cannot be insured.

Damage, loss or complete destruction as a consequence of the below mentioned incidents is not covered by insurance policy

-          Deliberate actions of the insured and beneficiary of the insurance policy

-          IN case of using industrial fire in repair and production works

-          IN case of robbery during or after the incident

-          Changes in underground water levels

-          In case of leakage from water pipes caused by freezing, collapse, gradual deformation, repair works on pipes and reservoirs, changes in location and sizes

Penalties for breaking the law

Failure to present Mandatory Property Insurance Policy is an administrative offence and is punishable in accordance with Article 253.1 of the Administrative Offence Code in the following order:

·         Individuals – 10 AZN

·         Executive powers – 60-80 AZN

·         Legal Entities – 200 AZN


In line with “Insured Baku” Project, you can also get insurance cover in following regions of our country


Ganja

Cost of Insurance – 40 AZN

Duration of Insurance – 1 Year

Amount of Insurance – 20 000 AZN

Deductible – 200 AZN


Guba

Cost of Insurance – 30 AZN

Duration of Insurance – 1 Year

Amount of Insurance – 15 000 AZN

Deductible – 150 AZN


Khachmaz

Cost of Insurance – 30 AZN

Duration of Insurance – 1 Year

Amount of Insurance – 15 000 AZN

Deductible – 150 AZN


Goychay

Cost of Insurance – 30 AZN

Duration of Insurance – 1 Year

Amount of Insurance – 15 000 AZN

Deductible – 150 AZN


Zagatala

Cost of Insurance – 30 AZN

Duration of Insurance – 1 Year

Amount of Insurance – 15 000 AZN

Deductible – 150 AZN


Lankaran

Cost of Insurance – 30 AZN

Duration of Insurance – 1 Year

Amount of Insurance – 15 000 AZN

Deductible – 150 AZN


To get your Mandatory Property Insurance Policy please visit your nearest “PASHA Insurance” Representative. For more information: *7000
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Insurance Claims

Разбитый грузовикCrushed truck

September 10, 2009. Mercedes-Benz Axor truck driver will never forget that day. The truck belonged to Construction Company. He drove the truck on his usual route. Despite the truck size it was quite agile and perfectly managed. To drive this truck was a great pleasure. However, passing A.Rajabli street driver heard loud clap and felt that truck swerve – it seems tire blew out. But all drivers attempt to avoid the swerve were unsuccessful in spite of his 35 years experience. The truck swiftly flew straight on a lamp post.

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