To secure the dwelling against unplanned troubles, and the budget from sudden expenses it is possible presently, using such tool as insurance of the apartment. The fire, flooding, explosion of gas and other insured events – the basis for compensation of damage by firm within the signed contract.
Why to insure the apartment?
Recently steady growth of the market of insurance is observed, owners more often think of whether it is worth investing money in protection of the dwelling. The legal literacy of the population grows, people understand that, having signed the contract with insurance company, in case of an unforeseen situation, they will be able to calculate on payment of a certain amount of money which at least will be able partially to cover losses. There are new firms offering more favorable terms for owners and on a question to insure or not the housing, many surely answer: "yes".
What it is possible to insure in the apartment?
It is expedient to approach property insurance after careful consideration. During execution of the contract on insurance of the dwelling the owner has the right to register what objects which are in the apartment he wishes to insure. Seldom agree to enter money, gemstones, important documents, pets in the contract on full insurance of the apartment. The list of objects which are not subject to insurance should be specified before signing of the contract. It is possible to insure being in the apartment:
- Structural elements are balconies, ladders, walls and partitions.
- Internal finishing – wall-paper, a floor covering, decorative finishing.
- Engineering and sanitary elements are pipes, counters, conducting.
- Property – pieces of furniture, clothes, household appliances.
Insurance of the apartment – insured events
Before signing of the contract it is necessary to study it attentively. Insured events – situations at which approach the insurer is obliged to pay a certain sum of money register in each document. During the statement for approach of unforeseen situations the owner is forced to prove that trouble really occurred, for example, if there was a fire, photos from the scene will be required. Its cost depends on the number of the insured events stated in the policy, it is known that apartments insure:
- From flooding of neighbors, so, insurance of the apartment in case of unexpected break of a pipe of heating or the crane especially relevant in old apartments.
- From the fires and ignitions.
- From theft of valuable property.
- From damages of the gas equipment.
- From natural disasters.
Insurance of the apartment – pluses and minuses
Many people consider that they in all companies selling similar services try under any pretext to impose signing of the contract on insurance of life or housing. Such behavior of managers leads to the fact that owners refuse flatly even to listen to the insurer about advantages of acquisition of an insurance of the apartment. The high cost of the policy is regarded as the main lack of an insurance. Pluses of signing of the contract on insurance of housing can be considered:
- After single acquisition of the policy the apartment will be insured for a year, or it is more, at the request of the owner.
- In case of need, it is possible to include additional points in the contract, for example, clarification of the room in case of a loss occurrence, change of door locks in case of theft and so on.
- Some companies are ready to provide payment by installments for payment of cost of the policy.
Types of insurance of the apartment
Such known service as insurance of life and health, cars and the dwelling appeared long ago, the set of types of insurance is known today. Many firms suggest to pick up individual conditions when insurance of own apartment by the principle of the designer is made, and try to satisfy any inquiries of the owner. Property insurance is divided into several types:
- Obligatory insurance of the apartment is considered a compulsory measure which is imposed by banks in various situations, for example, during purchase of square meters on credit or if housing is got in a mortgage.
- Voluntary insurance of the apartment is called when the owner independently showed willingness to sign the contract with insurance company.
- Title insurance of the apartment is applied at the conclusion of the transaction of purchase and sale of the real estate.
Insurance of the apartment for a mortgage
Presently by means of a mortgage it is possible to get the living space. Under the terms of the mortgage contract, the property acquired as a deposit has to be insured surely by forces of the borrower, or buyer. Many companies are ready to offer insurance of the apartment on a mortgage, the general requirements to such insurance contracts are uniform:
- The insured sum equals to the amount of debt for the apartment at the time of acquisition. Some banks oblige to increase it by 5-10%.
- Mortgage insurance guarantees payment only at damage of designs – walls, overlappings, a floor, a roof.
- When signing the contract on insurance it is necessary to specify terms. Not always at early repayment of a mortgage it is found it possible to cancel the insurance contract.
- Special attention should be paid to the insured events stated in the contract and also exceptions of the list.
How to insure the apartment?
It is very important to secure the dwelling against unforeseen situations in our hard time. Acquisition of the policy of assurance of property – favorable purchase which can help to cover expenses in case of natural disasters or any cataclysms. Registration of an insurance does not take a lot of time, on it at most half an hour leaves, if desired the owner can change insurance conditions at own will, adding and excluding necessary points from the contract. The general rules of insurance of the apartment it is necessary to know and be guided by them when signing the contract:
- Any insurance has validity period.
- Insurance premium – an indispensable condition of insurance if this moment is absent, it is necessary to think of legality of the transaction.
- No insurance company can guarantee a full covering of damage in case of an insured event.
- Existence of the insurance policy does not mean that the owner can irresponsibly treat the housing. If the human factor is guilty of emergence of an insured event, the company can refuse payment.
Documents for insurance of apartments
If the owner of the apartment decided to insure the property, he can personally make having visited office of insurance company, or having written the application online. By drawing up the contract on insurance of housing the following documents will be necessary:
- Identity document (passport).
- The papers confirming housing cost (estimated documents).
- If the apartment is bought on the credit or in a mortgage – the credit agreement.
- If the apartment has several owners – documents on property.
- In individual cases the credit company can ask to provide additional documents.
Apartment assessment for an insurance
The choice of the company is very important for the conclusion of the transaction, but not less significant question which should be solved before signing of the contract on insurance of the real estate, – housing assessment. The nobility what exact market value of property, it is very important that in case of a loss occurrence it was possible to understand on what cover amount it is possible to count. Each serious insurance agency in the state has the appraiser, but experienced experts advise to address independent experts in the field of housing assessment. It is possible that services of such expert will be a little more expensive.
Subtleties of insurance of apartments
Property insurance – favorable business. Not to fall into clutches to swindlers and not to lose an investment in case of unforeseen situations before insuring the apartment, it is necessary to get acquainted with reefs to which it is necessary to pay attention when signing the contract.
- It is obligatory to visit office of the company which will allow to be convinced of gravity of the organization.
- To check presence of the license at insurance company before signing the contract.
- To specify any unclear moments.
- Not to save on the cost of the policy.
- To study responses of people who cooperated with firm. It is better to use several resources.
How to receive an insurance?
Rules of conduct in case of a loss occurrence have to be known to any insurer of property.
- If necessary to call experts (firefighters, gas workers – depending on a case).
- In time, specified in the contract on property insurance of the apartment, it is necessary to report on hotline of the company about a loss occurrence, it is better to make it during 24 h.
- To collect supporting documents.
- To wait for the expert who will confirm the extent of damage such person is the employee of the company which carried out insurance of the apartment.
- To make the statement, to attach necessary documents and to wait for compensation payment.
- After conducting examination the company has 30 days on decision-making – to grant a request of the insurer or to refuse payment.
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