Pledged Property Insurance

• Property not indicated in the policy/contract/annexes or for which there is no proven insurable interest.
• Property with wear exceeding 60%, intended for demolition/capital repairs, damaged, unauthorized or not meeting the contractual requirements.
• Cash, securities, documents, registers, seals, electronic data, works of art/collections, heritage or unique assets, unless expressly accepted.

• Cover applies only to the property, risks, period, territory, limits and deductibles stated in the policy/contract/annexes.
• For mortgaged/pledged property, compensation is paid to the beneficiary stated in the policy/contract, usually the mortgage creditor, in the established order.
• Non-payment of the premium/installment, moving movable property without notice or an undeclared increase in risk may suspend or limit cover.

For accepted movable property, cover is valid only within the insured perimeter/address, unless otherwise agreed.

• When taking out the policy, correctly declare the mortgaged/pledged property, its value, the sum insured, location, beneficiary, requested risks and the circumstances relevant to the risk.
• Provide supporting documents for the value of the property and allow risk inspection/photographing of the insured property.
• Comply with fire, electrical, operating, maintenance and storage safety rules for the property/installations.
• In the event of a loss, limit the damage, save and guard the property, immediately notify the competent authorities and the insurer in writing within 48 hours.
• Keep the property in its post-loss condition, allow the loss assessment and submit the inventory/documents requested for the claim file.

The premium is paid in accordance with the contract/policy, for the agreed period and risks, in the manner established by the insurer.

• The contract takes effect upon signing; protection starts no earlier than 00:00 on the day the premium is received by bank transfer or 00:00 on the day after payment in cash.
• Cover is valid for the period stated in the policy/contract, generally 12 months, and ends at 24:00 on the stated date.
• Cover may end early upon cancellation, total loss/full insured amount paid, nullity, transfer of ownership or other specified cases.

The contract may be terminated by written declaration/notice sent to the other party, subject to the 30-day notice period and the contractual conditions. It may also end by agreement of the parties or in cases of failure to perform obligations; the premium for the unused period is refunded in accordance with the contract and legislation.