Insurance of business and industry

What interests you most

Who is the authorised person for this insurance?

The policyholder is the authorised person.

What is not covered by the policy?

The exact coverage of your insurance policy and exclusions from it are set out in your insurance contract. As a standard, insurance does not cover, inter alia, vessels, aircrafts, rolling stock, plots of land, plants, vegetation, mineral deposits, surface and underground water, acts of war, strikes, terrorist acts, chemical and biological contamination, acts of state or public administration, effects of nuclear energy, and also losses caused intentionally by the insured, the policyholder, or the authorised or another person The insurance company does not have to pay the insurance benefit in the event some information was kept secret at the time of taking out the insurance policy or in the event the policyholder has committed or is committing a crime.

Are there any limitations of insurance coverage?

The exact scope of your insurance policy, exclusions, and all the policy’s parameters are set out in the insurance contract and the terms of insurance. As a standard, the policyholder contributes towards a claim by an agreed excess. Damage caused by flood, flash flood or windstorm are not covered for the period of 10 days of executing the insurance contract (the so-called waiting period). In the event property was not secured against theft, the insurance benefit is lowered to the limit which, in accordance with the terms of insurance, is equivalent to the actual securing of the item.

How is the place of insurance determined?

Property insurance is not connected with the place of insurance stated in the insurance contract. Usually, it is the address where the operations or the manufacturing premises of the policyholder are located (i.e. the where the insured items are located).

What are my obligations during the insurance period?

During the insurance period, the policyholder is, among other things, obliged to provide complete and true information about the insurance risk before and during the insurance contract term, report to the insurance company all changes of contact details, pay insurance premiums in time and in the agreed amount and make sure that no damage occurs and take measures to mitigate the effects of loss, if such loss has already occurred.

When and how to make payments?

Regular insurance premiums are payable on the first day of the insurance period, and one-off premiums upon the commencement of the insurance, unless the insurance contract provides otherwise. It may be paid by a bank transfer (by a payment or standing order) or by a money order. Use the number of your insurance contract as the payment identification number.

Where am I covered by the insurance policy?

Property insurance is not connected with the place of insurance stated in the insurance contract. Usually, it is the address where the operations or the manufacturing premises of the policyholder are located (where the insured items are located). Liability insurance covers the territory of the specified state (e.g. Czech Republic) or other specified territories stated in the insurance contract (e.g.: Czech Republic and neighbouring countries, Europe, whole world except for USA and Canada).

How can I buy insurance?

Business property insurance may be taken out by completing the appropriate questionnaire and sending it to poptavky@maxima-as.cz.

When does the insurance coverage start?

The insurance coverage commences on the date specified as the commencement of insurance in the insurance contract.

How can I report a change of my mailing address?

If your mailing address changes, it is absolutely necessary to notify such change to the insurer in writing at:  
MAXIMA pojišťovna, a.s.,
Italská 1583/25,
120 00 Praha 2 Vinohrady.

How much will I receive in the event of a claim? For example, will I be able to use the insurance benefit to buy a new item to replace what was stole from me?

The amount of insurance benefit is determined by the price for which the particular item was insured. In the event a new price is covered by the policy, the insurance benefit will be paid in the amount of the current price of a new item at the time of the loss. The aim of our insurance company is to pay clients such amounts which would cover the purchase of the same item which they owned before the loss occurred.

What does the waiting period mean?

The waiting period is the period following the execution of the insurance contract. It usually takes several days. In this period, claims cannot be made. As a standard, the waiting period is agreed for the insurance of natural hazards, such as flood, flash flood, windstorm or hailstorm.

What are the policyholder’s obligations when making a claim?

When policyholders are making a claim, they must do the following:

1. Make the claim without undue delay
2. Provide true information about what occurred and what were the causes
3. Submit all the required documents and follow the insurance company’s instructions
4. Give true answers to all the questions the insurance company might have regarding the policy.

How can I terminate the contract?

You can terminate the insurance contract by a written termination notice within two months of the date of executing the insurance contract (the insurance will expire at the end of the eight-day notice period), at least six weeks before the end of the insurance period (in this case, the insurance will expire by the last day of the insurance period) or within three months of the date of insurance claim reported to the insurance company (the insurance will expire at the end of the one-month notice period).

When does the insurance cover expire?

The insurance policy expires on the date stated in the insurance contract as the end of insurance. In the contract, automatic extension for another insurance year may be agreed.