Property insurance in Kazakhstan: how a policy works and what it pays for

How apartment insurance works in Kazakhstan

You pay the insurer a premium, usually once a year, and it agrees to cover the damage if one of the events listed in the contract happens. Everything depends on that list and a few figures in the contract: the sum insured, the excess (deductible) and the limits for individual risks.

The market is small. According to 24.kz, fewer than 2% of people insure their homes, and most policies are on mortgaged apartments, where the bank requires cover. Other owners usually think about a policy after the latest earthquake or flood from upstairs.

Types of property insurance

Does home insurance in Kazakhstan cover earthquakes?

Only if earthquakes are explicitly named in the contract. Basic off-the-shelf products often leave them out or set a separate, lower limit for them. For Almaty, which lies in a 9–10 point seismic zone, it's the first thing I look for in any policy.

According to bes.media (2024), agents in Almaty recommend programmes that include natural disasters with a payout at the full value of the home. One such programme cost about 0.1% of market value a year.

Mind the restrictions on the building. According to Kazinform, insurers could refuse cover for wooden and reed-panel frame houses, dachas and apartments in buildings from before 1965; other sources give 1968 as the cut-off. Each company has its own exact conditions.

How much does property insurance cost in Kazakhstan?

The price is a percentage of the sum insured. Guidance from public sources: about 0.12% for a 20 million ₸ property with a 1% excess according to zakon.kz, and 0.2–0.25% at Halyk Insurance's 2024 rate. The simplest packages through eGov Mobile cost from 1,500 ₸ a month, but their cover is small.

For example, an apartment you value at 60 million ₸ would cost 60,000–150,000 ₸ a year at a rate of 0.1–0.25%. That's a budget guide, not a quote: the final price depends on the set of risks, the excess and the building itself.

• The lower the excess, the more expensive the policy
• Earthquake cover and expensive finishes raise the price
• Older buildings and wooden floor structures may mean a refusal or a higher rate
• A multi-year policy or a package with liability cover sometimes works out cheaper per year

Will compulsory disaster insurance for housing be introduced?

The idea has been discussed for several years, but as of October 2026 no law has been passed. According to Kazinform, ARDFM intended to submit the bill to Parliament in October 2026.

According to descriptions of the draft, it would cover registered housing owned by citizens against earthquakes, floods and wildfires. The system is planned to be introduced in stages, starting with the highest-risk regions. Premiums under discussion range from 0.5 to 5 MRP a year, roughly 1,000 to 20,000 ₸ depending on the region, and payouts, by early estimates, up to 10 million ₸. A separate fund has been proposed for this.

This matters for owners of expensive apartments: even if the law passes, the compulsory payout will be fixed and small compared with property values in Almaty. You'll still need a voluntary policy.

Which insurance companies cover property in Kazakhstan?

According to ARDFM, 25 insurance companies were operating in Kazakhstan as of 1 June 2026. Among the major players in general insurance, finratings.kz names Eurasia Insurance, the Halyk group, Freedom Insurance, Nomad Insurance, Jusan Garant, Sentras and Basel. Rankings change, so I check the latest financial statements when buying a policy.

When choosing a company, I look at its size, whether it reinsures large risks with foreign reinsurers, and how it has paid out on mass claims. An earthquake hits many clients at once, and a small company may simply not have enough reserves.

What to check in a property insurance contract

• The sum insured matches the real value. If you insure a 100 million ₸ apartment for 50 million ₸, the payout will usually be proportional, meaning half the damage
• Earthquake is listed as a separate risk, and it's clear how the event is recorded
• The excess: a fixed amount or a percentage, and whether it applies to each claim
• What counts as property: structure, finishes, furniture, appliances
• The full list of causes of fire and water damage. In one case a client found after a fire that short circuits weren't in the contract
• Exclusions: worn-out pipes and wiring, the home standing empty longer than a set period, renting it out without notifying the insurer
• Deadlines and how to report a claim, and the list of documents for a payout
• How long the payout takes after you submit the documents