Movable Asset Insurance
Movable Asset Insurance covers machinery, equipment, and tools against major losses with fire insurance, water damage and windstorm insurance, as well as optional burglary insurance.
Information regarding the insurance
What type of insurance is this?
Movable Asset Insurance is a combined insurance that covers damages to movable assets in business operations, such as machines, tools, and equipment. It consists of fire insurance, as well as water damage and storm insurance and burglary insurance, that are optional.
What is covered? | What is not covered? |
|---|---|
| Fire insurance covers damage caused by: | Fire insurance does not cover: |
Fire, lightning or explosion. | Damage from scorching, overheating, or melting. |
Crashing aircraft or parts falling from aircraft. | Damage to objects covered by a building‘s mandatory fire insurance. |
Firefighting operations. | Operational losses or other indirect damages. |
| Water damage- and storm insurance covers damage caused by: | Water damage- and storm insurance does not cover: |
Water flowing suddenly and unexpectedly from water-, heating-, or sewage pipes. | Damage caused by persistent moisture, leaks and seepage. |
Surface water flowing in due to a sudden downpour or thaw. | Damage caused by water coming from balconies or gutters. |
Oil or cooling liquid suddenly and unexpectedly flowing from oil tanks or cooling systems. | Damage to goods stored in a basement unless they rest on a foundation that is at least 10 cm high and does not absorb moisture. |
Violent storms. | Storm damage, if the wind speed is less than 28,5 meters per second. |
| Burglary insurance covers damages caused by: | |
Theft and damage to movable assets following a burglary. | |
Theft and damage when assets are taken during a robbery or attempted robbery. |
Any limitations on what the insurance covers?
The insurance policy does not cover damages caused by natural disasters or damages caused by war, terrorism, pollution, or other similar events.
Where is the insurance valid?
The insurance is valid in the place specified in the insurance policy.
What responsibilities do I have?
You must report any damage as soon as possible and no later than one year from the date of the damage.
You must ensure that all the information in the insurance policy is accurate.
You must inform us of any changes in your address, telephone number, and email address.
You must follow all the precautions in the terms of the insurance policy, e.g, that doors, windows and other openings to the insured area are securely locked and the keys are stored in such a way that no unauthorized persons can access them.
When and how do I pay the premium?
The premium must be paid on the due date. When the insurance policy is issued or renewed an electronic claim is created in your online bank. You have the option to distribute the premium payments by:
Credit card payment, where the premium is charged monthly to a credit or debit card.
Direct payment, where your bank account is debited monthly.
Corporate distribution, where the premium can be paid in monthly payments.
When does the insurance start and when does it end?
The insurance policy takes effect when an offer is accepted and is renewed annually until it is canceled.
How do I cancel the insurance?
Individuals and companies with fewer than five full-time positions can cancel the insurance at any time and it will expire at the end of the following month after the cancellation is received. Other companies can cancel their insurance one month in advance before the end of the insurance period.
The cancellation must be in writing, for example with an electronic signature.