Kinds of insurance:

- Insurance of property of legal persons;

- Insurance of property of individuals.

Property insurance for legal persons, depending on the object of insurance is divided:

- Property insurance companies;

- Cargo insurance;

- Insurance of water and air transport;

- Etc.

Property insurance provides individuals:

- Insurance of buildings, apartments;

- Insurance of household goods, animals, etc.

If the number of property insurance policyholder, but acting as legal and natural persons (ex: insurance of motor vehicles).

Another criterion which is the basis for the classification of property insurance is a type of insurance events, ie property can be insured against fire, theft, theft, etc.

The subject property insurance may be related to the interests of the ownership, use and disposal of the property.

The purpose of property insurance is compensation, this principle is that the insured after the insured event must remain in a financially-material situation, in which he was directly in front of him. In this regard, there is a problem of valuation of property insurance and determining the sum insured. The maximum insured amount is determined by the insurance value or the cost of insurable interest at the time of the loss. When the insurance damage as a subject of insurance is not seen as such a thing, but the owner’s interests in its preservation. Typically, the assessment of insurable interest coincides with the cost of insurance indemnity things in this qualitative state in which it is located at the time of insurance.

When property insurance is the basis for calculating the correct definition of the insured value, otherwise there is a situation enabling the insurer to the illegal actions for indemnity.

In motor insurance can be a deviation of the sum insured on the insurance value:

- If the sum insured is more than the cost of insurance, the insurer has the right to demand an immediate reduction of the sum insured to the size of the insured value with a corresponding decrease in premiums. If over-the sum insured is held specifically, in this case the insurance contract becomes invalid, ie there is fraud of the insurer.

- If the sum insured is less than the insured value, then we have nedostrahovanie, this principle is very important in industrial insurance, where he is called “reservation Average”