We provide all-risk insurance, meaning that almost any unforeseeable and unexpected accident can be the subject
matter of an insured event. The insurance covers the external walls, utility systems, roof, balconies, external
windows, foundation, load-bearing walls, stairwells, basements, gardens, and so forth, of an apartment building.
The apartment building insurance covers your damages in case of the following accidents
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Fire
We shall restore an apartment building destroyed in fire.
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Hail and wind
We shall reimburse the damages irrespective of the strength of hail or winds.
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Thunder and power surges
We shall reimburse damages caused by lightning, as well as damages from short-circuit and overvoltage caused power disruptions.
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Pipe leakage and flooding
We shall reimburse damages from flooding irrespective of the cause.
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Theft and destruction
We ensure that an item is replaced by reimbursing its acquisition price.
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Terms and conditions
How to insure?
The insurance contract can be entered into simply and quickly. Submit your application via Internet Bank or write to
varakindlustus@swedbank.ee or call 888 1513.
If you find our offer acceptable, we shall proceed to issue an insurance policy and invoice you for the first
instalment. The contract enters into force after the first instalment has been paid. The insurance cover enters into
force on the effective date of the insurance period as set forth on the policy.
Ask for an offer
All-risk insurance has a broad cover, meaning that almost any unforeseeable and unexpected accident can be the
subject matter of an insured event.
Why should an apartment building be insured?
The insurance contract ensures a broad cover
The insurance covers the external walls, utility systems, roof, balconies, external windows, foundation, load-bearing
walls, stairwells, basements, gardens, and so forth, of an apartment building in common ownership. Moreover, the
insurance covers the structures above the ground and permanently attached to it whose total area is less than 102 or
other items such as enclosures, wells, covered areas, fence, outdoor lights, flagpoles. The cover also extends to
heat pumps, underground communication lines and parts of utility systems owned by you. The sum insured for
structures is EUR 35,000.
Accidents, thefts and vandalism take place in apartment buildings
Last year Swedbank P&C Insurance AS alone registered more than 30 loss events in apartment buildings. Damages
amounted to thousands of euros.
Apartments may be insured but this does not cover the apartment building as a whole
Even if everyone in your apartment building has procured home insurance cover, such contracts apply only to accidents
that occur inside apartments. Where an accident occurs or vandals cause damages on areas that are jointly used, such
as stairwells, basements and so forth, the damages must be covered by the apartment association.
The cover also extends to the assets of third parties
Should water penetrate through the roof of your apartment building and your apartment suffers from this, we shall
reimburse the damages caused to the apartment. Likewise, damages caused by falling icicles, slippery pavements are
compensated. This cover applies provided that the contract includes a professional indemnity cover.
Assessment of damage
After a loss event has occurred, we shall send an expert to assess the damage who will determine the cause and extent
of damage. After the extent of damage has been determined, a calculation for repairs will be prepared with a time
schedule estimate. After the insurance company has endorsed the calculation, the date on which repairs works start
will be agreed with the representative of the apartment building.
Preparation for repairs
After receipt of a claim notification and application for compensation, and inspection of the apartment building we
shall finalise a reimbursement decision. We shall also issue to the repair company our consent to the performance of
works. Subsequently the company will agree on the time of the repairs.
Deductible
The deductible for each insured event is EUR 300 or 600, as you prefer. In case of compensation in money, it will be
deducted from the total insurance indemnity. Where indemnity is paid directly to the company performing the repairs,
you will get a separate invoice payable as agreed, either before or after the repairs.
The sum insured does not decrease after a loss event
We guarantee that the sum insured agreed upon entry into the insurance contract will apply to your home even after a
loss event. You do not have to make additional payments to restore the initial sum insured.
