Insurance is gaining popularity now. All civilized countries have long used this tool to protect their lives, health, property from various unforeseen circumstances. In our article, we consider what voluntary and compulsory insurance of property of individuals and legal entities is, as it is regulated by law. 
About the law
The federal law "On the organization of insurance in the Russian Federation" regulates relations regarding insurance between institutions, enterprises, citizens and insurance companies, as well as relations between insurance companies. This law establishes the basic principles for regulating the activities of insurance organizations.
On the basis of this law, legislative acts of the Russian Federation governing relations in the insurance sector are also adopted. State social insurance is not subject to this law.
Insurance is understood as relations related to the protection of the property interests of legal entities and individuals in the event of the occurrence of certain events, referred to as insured events, from cash funds that are formed from paid insurance premiums and contributions.
Insurance forms
There is voluntary and compulsory property insurance. Voluntary insurance is carried out by concluding an agreement between the insurer and the insured. Insurance conditions are determined at the time of signing the document. Insurance, which must be carried out by law, is considered mandatory. The procedure, conditions and types of compulsory insurance are determined by the Federal Law "On Insurance".
Insurance Objects
Property interests may be objects of insurance:
- personal insurance is related to retirement benefits, disability, health and life of the insured person or policyholder;
- property insurance is associated with the disposal, use and possession of property;
- liability insurance is associated with compensation for harm caused by the insured.
Insurance of property interests of legal entities and also individuals in Russia, except for mutual insurance and reinsurance, is possible only by organizations that have a license to carry out insurance in the Russian Federation. These are various insurance companies operating in the country. 
Compulsory property insurance is a kind of protection of the interests of the owners of this property (investments, real estate, equipment, vehicles, goods, works of art, goods) in the event of certain events. These include a natural disaster, fire, theft, flooding, a man-made disaster, etc. Material damage is compensated by cash funds, which are formed from contributions from property owners. Property insurance for individuals is most often voluntary, for legal entities it is mandatory. Such insurance involves proportional or full compensation for damage.
Property Insurance Contract
The contract is concluded between the insurance company and the owner of any property (car, real estate). Before issuing it, usually make an assessment of the value of the insured object. The amount of insurance may not exceed the real value of the insurance object at the time of signing the contract.It can be concluded for a period of 1 year or more with the annual recalculation of the size of payments and the value of property. Legal entities and individuals can insure both partial and full object value.
Legal entities property insurance
What does compulsory property insurance mean? Let's consider this question in more detail. Compulsory insurance covers property that is in state ownership, objects with increased danger, collateral values and vehicles that were purchased under a leasing agreement or on credit. The legal entity is paid compensation for damage only if the enterprise itself is innocent that an insurance event has occurred. That an insured event has occurred must be documented. To do this, a representative of the insurance company is invited to the company, which makes an assessment of the damage and draws up an act.
The insurance contract includes a standard list of risks with the possibility of supplementing it in some situations. This document should always cover the following issues:
- procedure and rules for damages;
- amounts and insurance estimate;
- insurance liability.
Objects and subjects of insurance coverage
Compulsory insurance of property of legal entities has its own nuances. A legal entity with any form of ownership, state bodies or an individual entrepreneur can act as a policyholder. Also, any insurance company can act as an insurer if it has a license to provide insurance services. The beneficiary may be a person or company with a financial or property interest in receiving a refund.
Concept and types of property
Property in insurance is the things and material values that a person (physical or legal) owns, uses or disposes of. We are talking not only about a specific object or object (building, car, planting, animal, etc.), but also about a group of objects (for example, a gas pipeline, cargo, cash). Property can be movable (everything that moves) and immovable (many buildings, structures, that is, everything that does not move). Insured property - tangible assets that are covered by compulsory insurance (by law) or voluntarily insured.
Therefore, an insurance contract can be concluded for the protection of movable or immovable property except agricultural animals, perennial plants, crops, crops, vehicles. For objects falling into the category of exceptions, there are certain types of insurance, for example, for trucks. If necessary, this type of protection can be included in the main insurance package. Including, insurance of products, precious stones and metals is possible.
Property risk protection
Raw materials, materials and products can be protected in various ways. The first option involves the use of a specific amount of values not in circulation as an object of protection. The second involves the protection of an object in constant circulation. Its nomenclature, quantity and value are constantly changing. Why is compulsory property insurance necessary? It is possible to protect the property of legal entities from the risks listed below:
- collision of a vehicle, crash of an aircraft;
- fire, explosion, lightning strike;
- hijacking, theft, unlawful action of a third party;
- natural disasters;
- communication system failure;
- other contractual risks.
Sometimes companies have a special demand for protection against unforeseen damage due to water: direct use of a fire extinguishing system, its false operation, breakdown of a nearby communication system, exposure to liquids and water from the outside.
Property insurance for individuals
The most common object of compulsory insurance of property of individuals is a vehicle in case of an accident. This type of insurance is mandatory for everyone who has a car, because an unpleasant situation can happen with a high probability. But here it is important to understand that it is not the car itself that is subject to compulsory insurance, but the civil liability of one driver to another. This type of insurance is called CTP.
In addition, citizens' homes and homes that are at great risk are insured. The location of real estate in the seismic zone, for example, forces people to insure their housing.
Although compulsory insurance of real estate is not provided for individuals, often such an agreement is concluded in connection with the mandatory requirement of the bank at the time of issuing a loan to purchase a car or a mortgage. Statistics show that only 3% of individuals insure their property in Russia, while in the USA and Europe this figure is 90%. Insurance payments cover part or the full value of lost or damaged material assets. The maximum amount of payments is affected by the estimated value of the object, franchise, limits and other factors.
Types of compulsory property insurance we reviewed. Let's move on to voluntary.
Voluntary insurance is subject to movable and immovable property, that is, absolutely any thing of value to the owner. This may include:
- antique furniture;
- objects of art, paintings, canvases;
- jewelry and precious metals;
- Construction Materials;
- agricultural machinery and household appliances;
- equipment for sports.
Property insurance of individuals involves protection against certain risks. 
The risks
Insurance risks may include:
- Accident due to which fire, water and other substances, low temperatures, as well as mechanical effects on the insured object of foreign objects (for example, a tree fell on a car) affects the property.
- Natural disasters (in the form of earthquakes, floods, tsunamis).
- Attackers destroyed or damaged the object.
- The abduction of the insured object has occurred.
Bets
The rates of insurance of property of legal entities are determined by the concluded agreement between the insured and the insurer. They depend on several factors: the size of the franchise, the estimated value of material assets, the degree of deterioration, the size of the amount of compensation, a list of risks. The exact amount can be found after contacting the insurance company to conclude a contract. The insurers offer a variety of conditions, policies of different types, so that the company or citizen can choose the best option that meets their goals.
Property Insurance Rules legal entities and individuals establishes the laws of Russia and insurance companies. They contain the following information:
- settlement of disputes;
- general provisions;
- payment procedure;
- clarification of terminology;
- responsibility of the parties;
- procedure for concluding a contract;
- principles by which the amount of insurance payments, property value, amount of damage and deductible are determined;
- objects of insurance;
- types of risks;
- deadlines;
- list of conditions for compensation for losses in property insurance of legal entities;
- tariffs.
Home and Property Insurance Programs
Insurance companies are developing various programs for insurance of premises and property. With their help, any policyholder can choose the most suitable conditions for the protection of property, compensation for losses. Municipal authorities and the government are developing special preferential programs that make insurance affordable, increase the attractiveness of this type of service and protect the population.Financial institutions are developing property insurance programs for mortgage lending. 
State insurance
The interests of the state and citizens are ensured by compulsory state insurance of property, health and life of public servants of certain categories. It is carried out at the expense of funds allocated for this from the budget of policyholders. These include federal executive bodies and ministries. The subjects of such insurance include government agencies and individuals (certain categories). Be sure to insure military personnel, staff of the police department, employees of the penal system, tax and fire services.
Production risk is associated with the manufacture of goods, services or products. In this case, insurance against business risks will protect the company from various unplanned expenses in the form of cost increases, increased costs of materials, increased losses and other things. To protect the offices owned by the company, standard insurance conditions are used. For state compulsory insurance of legal entity property, the following conditions must be observed:
- documents on accounting and registration of property are drawn up in accordance with the law;
- owner - a state body, entrepreneur or legal entity;
- Mandatory provision of documents that confirm ownership of the property.
For property of a legal entity, protection is valid only for the location or territory indicated in the policy. When transferring the property to any other place, this should be reported, otherwise insurance will not cover such property. This confirms the Federal Law "On Insurance".
The objects of protection cannot be dilapidated or dilapidated buildings and structures and the property located in them. Moreover, property that is not suitable for the specifics, storage conditions or condition cannot be accepted for insurance, because this will lead to increased risk. 
Conclusion
Real estate insurance extends to complexes, buildings, plots, buildings, premises that belong to legal entities and individuals. The owner has the option of insuring part or all of the property in full. For legal entities, real estate insurance is mandatory, but for individuals voluntarily (except for compulsory motor insurance). The method, conditions and amount of compensation are dependent on the insurance liability system. The amount of insurance may not exceed the estimated value of the object. The contract provides for partial or full compensation for losses arising from insured events.
So, in this article we examined the cases of compulsory insurance of property of legal entities and citizens, objects and subjects of insurance.