HSBC has reached an agreement to sell HSBC Armenia to Ardshinbank. The transaction is subject to regulatory approvals. There is no immediate change for any of our customers. Click here for more details.
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What risks are covered by Property Insurance, and what risks are not covered?
Risks that are covered:
Fire, lightning, gas explosion
Water damage
Earthquake
Theft and robbery
Illegal actions by third parties
Risks that are not covered:
Flood, gale, storm, hurricane, hail
Landslide, landfall of mountainous/rocky landmasses
How much does Property insurance cost?
The annual insurance rate for property purchased with loans provided by HSBC Bank Armenia cjsc is 0.18% of the sum insured during the term of the loan agreement.
Can I arrange partial Property insurance? How the insurance compensation is calculated?
Yes, you can arrange partial insurance. If the property is insured for part of its value insurance compensation will be paid in the same proportion of the sum insured and the property's full market value.
What are the deductible amounts for Property Insurance?
1% of the sum insured, minimum AMD 100,000
In case of earthquake, 2% of the sum insured
Can I arrange Property insurance, if I am not the owner of the property?
Yes, you can arrange Property insurance, if you are not the owner of the property.
