Russian insurance companies now offer optional coverage for war-related risks, increasing standard property insurance policy costs.
Key facts
- •Russian insurance companies offer optional coverage for war-related risks, increasing policy costs by up to 12%.
- •The new add-ons cover property damage caused by drone debris, missile explosions, or malfunctioning air defense systems.
- •AlfaStrakhovanie and Ingosstrakh explicitly list 'military actions' as covered perils for property damage or loss.
- •Ingosstrakh covers civil war, civil unrest, and labor strikes.
- •Maximum payouts for these claims are capped between 30 million and 50 million rubles ($410,700 and $684,000).
Russian insurance companies have started offering optional coverage for war-related risks, driving up the total cost of standard property insurance policies by up to 12%. The new add-ons allow homeowners to buy protection against property damage caused by falling drone debris, missile explosions or malfunctioning Russian air defense systems.
Expanded Coverage
Policy terms from major firms AlfaStrakhovanie and Ingosstrakh now explicitly list 'military actions, maneuvers, exercises or military operations of any kind' as covered perils for property damage or loss. Ingosstrakh has further widened its scope to cover civil war, civil unrest and labor strikes.
Payout Limits and Disputes
Other major insurers, including Reso-Garantia, Rosgosstrakh and Soglasie, have capped their maximum payouts for these claims at between 30 million and 50 million rubles ($410,700 and $684,000). However, some insurers do not clearly differentiate between war risks and acts of terrorism, which could create a coverage gray area. Lawyers expect widespread disputes to break out over strict policy exclusions, indirect losses and the heavy burden of proof required to establish the exact cause of the damage.
This article was independently rewritten by ManyPress editorial AI from reporting originally published by The Moscow Times.
