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Compulsory real estate insurance

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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.

Compulsory insurance of residential buildings, residential houses and apartments guarantees damage to their structural elements, rooms, including door and window structures, including glass, water, sewage and gas supply, as well as heating pipes, Communications, Electrical and other wiring, 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.