Opšta pravila za osiguranje imovine

The rules for property insurance are different from other insurance rules, especially from those regulating the insurance of persons. Compensation for incurred damage and interest to avoid damage are two basic principles of the property insurance. As for the first principle, the property insurance is calculated in an objective way meaning that the insurance claim cannot exceed the amount of the incurred damage. In the property insurance law this principle is known as the principle of indemnification. The other principle, the interest to avoid damage is the subjective principle in property insurance which assumes that the right to insurance is granted only to those persons whose material interest is to avoid damage. These two principles serve as the basis for establishing other general rules (characteristics) of property insurance which are discussed in this paper in details. In order to secure indemnification, the insured person’s has burden of proof to demonstrate that the damage is covered by the policy and specific risk. Double insurance and supplementary insurance are not permitted. In case of sub-insurance, damage claims are proportionally compensated. Cumulative claims (from the insurance company and from the person who caused the damage) are not permitted. Given the fact that the value of the insured property is expressed in monetary terms, and that the purpose of property insurance is the compensation of the damage incurred, the insured value, therefore, is not the important part of the insurance contract and may be omitted. The application of the mentioned insurance rules gives full meaning to the protection of the insured property since by concluding an insurance contract and paying the premium, as the price of service offered by insurance company, the insured person is protected from adverse consequences of property damage.