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Compulsory real estate insurance is provided for in Chapter 2 of the special section of the law of the Republic of Azerbaijan” on compulsory insurance".

Compulsory real estate insurance is applied with the aim of compensation for damage caused by damage, destruction or loss of real estate in any form as a result of fire or other events. For these purposes, insurance of structures, residential and non-residential premises, residential houses, buildings and apartments, as well as state property belonging to legal entities and individuals is mandatory.

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Compulsory insurance of residential buildings, dwellings and apartments.

To their constructive elements, rooms, it guarantees damage to door and window structures, including glass, water, sewage and gas supply, as well as heating pipes, Communications, Electrical and other wires, decorative elements, including all types of external or internal trowel and plaster works, walls, ceilings and floors.

In accordance with article 180 of the Civil Code of the Republic of Azerbaijan

Immovable property considered as arbitrary construction, as well as immovable property which has been decided to be demolished in accordance with the Civil Code of the Republic of Azerbaijan and the Urban Planning and Construction Code of the Republic of Azerbaijan, which has not been completed and is in emergency condition, is not subject to compulsory insurance.

Amount of exemption

The amount of exemption may be stipulated by the insurance contract. Insurance coverage exemption amount for each insurance risk and it is applied on each insured event. The size of the amount is reflected in the insurance letterhead, which is presented to the insured. If the exemption amount is stipulated, that amount is deducted from the damage amount.

Insurance coverage area

Insurance coverage is valid only in the area specified in the insurance contract.

Dispute resolution

Disputes arising from this law shall be resolved in accordance with the procedure established by the legislation of the Republic of Azerbaijan, including in court.

Term of insurance contract

Unless otherwise provided by the contract, the insurance contract shall enter into force on the day of payment of the first part of the insurance premium or in full at 24:00, but not earlier than the date of the start of the insurance period specified in the certificate.