Useful tips for those who decided to insure the apartment: what and what risks can be insured, what the price of the policy and other nuances depend on
Fire, water and malicious acts of third parties are a direct threat to the security of any home. The owner of an apartment can count on material support from the state in the event of a fire, water flood, or hacking only in exceptional cases.
However, you can insure the apartment against all these risks and get a guarantee that you will receive compensation in case of loss from the insurance company.
Who can insure an apartment
Any person can act as the policyholder, regardless of the right to own real estate. You can be the owner or tenant of the apartment and expect to receive insurance compensation.
You also have the right to insure square meters belonging to another person, indicating the owner as a beneficiary. In this case, he will receive compensation.
If there are several owners of real estate, then they are all beneficiaries. Accordingly, the compensation will be divided between these persons equally or depending on the share of ownership of real estate.
To receive the money they will have to submit documents confirming their rights.
What can I insure
The policy can be issued for movable and immovable property, in particular:
- walls, arches, ceilings, partitions, stairs, balconies and other structural elements;
- Wallpaper, parquet, suspended ceiling, stucco molding and other options for interior decoration;
- water pipes, heating system, meters, electrical wiring, CCTV cameras, other utilities;
- household appliances, furniture, carpets, clothes and other things.
Not all movable property falls under the protection of the insurer.
The list of such exceptions may include the following:
- home plants
It is recommended that you obtain a more accurate list from your insurer. If you are interested in protecting the property that he included in the list of exceptions, you will have to purchase a separate policy for him.
What can you insure against housing
The list of risks from which typical policies are usually protected includes:
- the bay
- theft, vandalism.
If you wish, you can expand the list of risks from which you want to insure the apartment.
For example, you can add to the main risks:
- earthquake, hurricane, other natural disasters,
- the fall of a tree, a drone, the action of animals and other causes of mechanical damage,
- damage to the health of people in the room.
A useful service may be liability insurance related to the operation of the premises.
If the pipe bursts in your home and the neighbors living under you suffer, then the insurer will compensate for the damage instead. Often this insurance option is included in the standard contract.
You will find detailed descriptions of risks in the rules that you will receive at the conclusion of the contract. Pay attention to these descriptions and exceptions.
For example, damage caused by a terrorist act is not covered by insurance, although it is an unlawful act.
Also, compensation will not be paid if the property has suffered due to:
- military operations
- during mass unrest,
- decisions of the authorities (for example, the building was demolished as illegally erected),
- from a nuclear explosion.
Examine the list of exceptions in advance to avoid future misunderstandings.
How much is insurance
The sum insured is most often set by the insurer himself. The company offers a choice of several amounts and announces the price of the contract in each case.
If you want to get insurance cover for several risks and different types of property, you yourself are entitled to construct your policy.
To do this, you indicate separately the insurance amounts for the selected types (construction, communications, decoration, personal belongings) and, if desired, civil liability.
The total insurance premium will directly depend on the number of selected types and the established limit.
It is not recommended to inflate the insurance amount in the hope of receiving compensation more than what your property actually costs.
The amount of damage will be assessed by experts, which means that you will receive a refund on the fact and can not earn on insurance. For example, if all your property is worth 10 million, there is no point in insuring it with 20 million.
Experts will still assess the damage within the real value.
Do you need a franchise
The price of the policy may become less if you agree to a franchise.
There are 3 types of franchises:
- Conditional. If the damage is less than the deductible, you will not receive anything, if more – you will be paid the full amount of the loss.
- Unconditional. For any payment, it is deducted from the total amount of compensation.
- Temporary. With such a franchise, the policy is not always valid. The contract indicates a specific period of time when insurance is not valid.
Consider a specific example. The policyholder buys a policy and sets a deductible of 5 thousand rubles. Damage after an insured event is 45 thousand rubles, but the owner receives only 40 thousand in his hands, less the deductible. If he chose the conditional option, he would have received all 45 thousand.
Whether you need a franchise or not, you must decide for yourself. On the one hand, it will reduce the cost of the policy. On the other hand, it can reduce the amount of insurance compensation.
Before completing the contract, go to the website of the selected company and use the designer to calculate all the options.
What to consider when making a decision
To summarize the above.
Any person can insure a home, even if he is not the owner of this property. In this case, the owner himself most often acts as the beneficiary.
The policy covers almost everything that is in the apartment: communications, walls, decoration and personal property, with some exceptions.
The cost of insurance depends on the number of selected risks, the sum insured, the availability and type of deductible. It is better to make a decision on concluding an agreement with a specific company after comparing prices and insurance terms with different insurers.
Remember that insurance only covers damage to your property. But it is impossible to capitalize on this, since the loss is estimated by experts.
However, having a policy guarantees you substantial material support in the event of an unforeseen situation and loss of property.