Useful advice to those who decided to insure the apartment: what and from what risks you can insure, 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 the apartment can count on material support from the state in case of fire, water flooding or burglary only in exceptional cases.
However, you can insure the apartment against all these risks and secure a guarantee that you will receive compensation in case of loss from the insurance company.
Who can insure the apartment
The insured may be any person, 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 can also insure square meters belonging to another person, indicating the owner as a beneficiary. In this case, it will receive compensation.
If there are several owners of real estate, then all of them become beneficiaries. Accordingly, the compensation will be divided equally between these persons or depending on the share of ownership of real estate.
To get the money they will have to submit documents confirming their rights.
What can be insured
The policy can be issued on movable and immovable property, in particular:
- walls, arches, ceilings, partitions, stairs, balconies and other structural elements;
- wallpaper, parquet, suspended ceiling, stucco and other options for interior decoration;
- water pipes, heating system, meters, wiring, video surveillance cameras, other engineering communications;
- household appliances, furniture, carpets, clothing and other things.
Not all movable property falls under the protection of the insurer.
The list of such exemptions may be kept in the insured dwelling :
- home plants,
A more accurate list is recommended to get from your chosen 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 you can insure housing
The list of risks that typical model policies usually protect are:
- theft, vandalism.
If you wish, you can expand the list of risks that you want to insure your 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,
- harm to the health of people in the room.
A useful service may be liability insurance associated with the operation of the premises.
If in your dwelling a pipe breaks through and the neighbors living under you suffer, the insurer will compensate for the damage instead of you. Often this insurance option is included in the standard contract.
Detailed descriptions of the risks you will find in the rules that you receive when entering into a contract. Pay attention to these descriptions and exceptions.
For example, damage caused by an act of terrorism is not covered by insurance, although it is illegal.
Also, the compensation will not be paid if the property has suffered due to:
- conducting 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 well in advance to avoid misunderstandings in the future.
How much is insurance
The insured amount is set most often by the insurer. The company offers a choice of several amounts and announces the contract price in each case.
If you want to get insurance protection for several risks and different types of property, you yourself have the right to design your policy.
To do this, you specify 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 insured amount in the hope of receiving compensation more than your property is actually worth.
The amount of damage will be assessed by experts, which means that you will receive compensation after the fact and will not be able to earn on insurance. For example, if all your property is worth 10 million, it makes no sense to insure it for 20 million.
Experts will still assess the damage within the real value.
Do I need a franchise
The price of the policy may be less if you agree to a franchise.
There are 3 types of franchises:
- Conditional. If the amount of damage is less than the deductible, you will not receive anything; if it is 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 specifies a specific period of time when the insurance is not valid.
Consider a specific example. The policyholder buys the policy and establishes a deductible of 5 thousand rubles. The damage after the insured event is 45 thousand rubles, but the owner receives only 40 thousand minus 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 making a 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
Let’s summarize the above.
Insure the home can anyone, even if he is not the owner of this property. The beneficiary is often the owner himself.
Under the action of 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 particular company after comparing prices and insurance conditions of different insurers.
Remember that insurance only covers damage to your property. But to make money on this is impossible, since the loss is estimated by experts.
However, the presence of the policy guarantees you substantial material support in the event of an unforeseen situation and loss of property.