The main purpose of an insurance is the protection of life and property from risk. Consequently, it can be said that insurance is important to preserve the economic stability not only of an individual but also of the whole society. Two main definitions of an insurance stem thereof – insurance is defined from the position of an individual and from the position of society. Insurance from the position of an individual is an instrument in which the individual replaces the insurance premium for a big uncertain financial loss, which would occur if there were no insurance, whereas the insurance from the position of society is an instrument for lessening and removing the risk through a sufficient amount of exposure to identical risks in order to predict losses for the control group as a whole. Topic of this final paper is property insurance which belongs to non-life insurance group and to whom basic purpose is protection of the property of the contractor from all types of risks to which it is exposed. This type of insurance and insurance from natural disasters, that covers property damage caused by fire, storm, natural disasters, and also property insurance that covers property damage caused by hail or freezing, theft or robbery and other actions. Through this final paper examples of insurance policies of competitive insurance companies on insurance market in Croatia insurance and Wiener insurance Vienna Insurance Group d.d. were processed. By comparing these two policies, insurance conditions of each individual insurer were determined. From that comparison arises that the conditions of both insurers are very similar and that they are largely adapted to the individual needs and wishes of the insured. Premium of insurances that have subject of insurance is formed on the basis of the following factors: construction type, floor space and condition of object (building), location and number of risks from which it is insured against and by duration of the insurance.