AZE.US
Heavy rains in Baku caused serious damage to businesses, with many shops and commercial facilities flooded and large volumes of goods left unusable.
Business owners say the damage was extensive. In some locations, water remained inside premises for days, ruining merchandise, furniture, equipment and other property. In several торговых areas, business activity was effectively paralyzed as stores could not operate normally and customers struggled to access the premises.
One of the biggest problems, however, was insurance. While some businesses had coverage, many did not, leaving owners to bear the losses on their own.
Experts say both the commercial property itself and the goods inside it can be insured, but such protection usually depends on voluntary insurance policies rather than standard mandatory coverage. The cost varies by company, tariff and the list of risks included in the contract.
According to specialists, a person seeking to insure property worth around 50,000 manats may pay roughly 100 to 150 manats in premiums, although the final amount depends on the insurer and the scope of coverage.
Experts also note that mandatory property insurance does not cover every type of loss. In general, it applies mainly to structural elements of real estate, such as walls, doors, windows and certain finishing components. Items inside the premises – including furniture, appliances, equipment and merchandise – are not automatically covered under that basic protection.
To insure those assets, business owners usually need separate voluntary coverage.
The same principle applies to vehicles. Mandatory motor insurance does not compensate for damage caused by natural disasters, as it is designed to cover harm inflicted on third parties. If a car is damaged by flooding or another natural event, compensation is generally available only through comprehensive casco insurance.
Specialists say the latest flooding has once again highlighted the importance of voluntary insurance, both for businesses and for households. In situations like this, it may be the only real tool for recovering at least part of the losses.