A flooded flat is a stressful situation that can damage decoration, furniture, household appliances and other property. Putting things right after a flood often costs a significant amount, and that amount is impossible to predict in advance.
Voluntary property insurance (VPI) helps to reduce this financial risk.
Under a voluntary property insurance contract the policyholder can insure property belonging to them against the risks set out in the contract. The terms of cover, the list of insured property, the insured events, the sum insured and the amount of compensation are determined by the chosen programme and by the insurance contract.
Why include water damage in your policy
Having a policy does not in itself mean that every flood is automatically covered. The insurer pays compensation when an event occurs that the contract defines as an insured event.
When taking out the policy it is therefore important to specify the property being insured and to select the necessary risks provided for by the GSO voluntary property insurance rules. These may include water damage, failure of water supply, heating or sewage systems, water penetrating from neighbouring premises and other similar risks.
This matters especially for flats with new decoration, built-in appliances and valuable property that would be expensive to repair or replace.
First steps when your flat is flooded
If you discover that water is coming into your flat, first try to stop it. Tell the neighbours upstairs and contact the organisation that services the building or the emergency service.
If there is a risk of a short circuit, switch off the electricity in the flat, observing safety precautions.
Do not start clearing up the consequences straight away. First it is important to record what happened and the damage caused.
Document the flooding
Take photographs and video of all the damage:
- the ceiling and walls;
- the floor covering;
- doors and windows;
- furniture;
- household appliances;
- any other property affected.
Try to film in such a way that both the individual damage and the room as a whole can be seen.
Contact the organisation that services the building and ask for a flooding report to be drawn up. The document should ideally record the date of the incident, the presumed cause of the flooding, the source of the water, the list of affected rooms and the visible consequences.
What to submit to GSO
If an event occurs, notify GSO in the manner and within the time limits set out in the insurance contract. The exact list of documents is set by your contract. As a rule, the following may be required:
- a notification of the insured event;
- the insurance policy;
- an identity document;
- documents for the flat;
- the flooding report;
- photographs and video of the damage;
- documents from the competent or emergency technical services;
- a list of the damaged property;
- documents confirming the value of the damaged property and of the repairs, if available;
- bank details for receiving the insurance payment.
Once the required documents have been submitted, the circumstances of the insured event and the amount of the loss are reviewed in accordance with the terms of the contract and the Voluntary Property Insurance Rules.
Until the inspection has taken place it is advisable not to throw away damaged items and not to carry out full restoration work, unless it is needed to prevent the damage from increasing further.
Who pays if the neighbours are at fault
If the flooding was caused by the actions or inaction of neighbours and their liability has been established, a claim for compensation may be brought against the person at fault.
If the flat was insured and the insurance company has paid out, then in the cases provided for by law and by the contract the right of claim against the person responsible may pass to the insurer. For the policyholder this means compensation can be received without waiting for the dispute with the neighbours to be resolved.
This is precisely why it is important to establish the cause of the flooding in writing and to keep the documents confirming the circumstances of the incident.
Does compulsory housing insurance cover flooding by neighbours?
Here it is important to distinguish between voluntary property insurance and compulsory insurance of residential premises against fire and natural disasters.
The current legislation of the Kyrgyz Republic on compulsory housing insurance sets out a specific list of insured events. It includes, in particular, water entering the dwelling as a result of lawful firefighting actions. Ordinary domestic flooding caused by neighbours should not automatically be treated as that insured event.
To protect your flat specifically against water damage, you therefore need to look at the terms of voluntary property insurance and make sure that this risk is expressly included in the cover.
Protect your property in advance
An unexpected situation cannot be ruled out entirely, but its financial consequences can be reduced in advance.
Take out voluntary property insurance (VPI) with GSO and protect your flat, its decoration and your household property against the risks covered by the contract.
Before taking out the policy, read the terms of cover, the list of insured risks, the exclusions, the sum insured and the procedure for receiving an insurance payment.
Any questions?
GSO hotline: +996 (312) 65-08-53 — Mon–Fri, 9:00 to 18:00.
Email: info@gso.kg
Addresses of branches and sales points in every region are listed under Branches and on the Contacts page.