For the purpose of protection material assets citizens in the insurance sector, a corresponding branch has appeared. Its mission is to protect the interests of citizens interested in the safety of valuables, as well as property.
Available on the market large number insurance companies offering various forms and types of property insurance individuals, which differ in conditions, tariffs and additional options.
What's the point
At the legislative level, any person is guaranteed the inviolability of his property. All contracts related to the protection of personal property are signed on the basis of official documents.
The object of insurance of property of individuals is the material interest associated with the protection of the citizen’s property rights. Insurance interests have no relationship with human life.
Property insurance for individuals is coverage of damage in an amount that will enable the insured not to worsen his financial situation after the occurrence insured event.
The sum insured is usually equal to the value of the property minus depreciation.
There is the concept of “franchise” - this is the amount of damage that is not reimbursed, since it corresponds to the minimum costs of the insurer. The policyholder has no right to enter into any additional contracts with other organizations in relation to this minimum amount.
Procedure
An agreement is concluded between the policyholder and the insurer, implying that for a fixed premium the insurer undertakes to compensate the policyholder (or another person) for losses caused to his material interests.
The following are subject to insurance:
- material goods and property that are personally owned by the policyholder: land plots, houses, apartments, interior items, cars, etc.;
- domestic and agricultural animals;
- cash, patents, various documents, safe deposit boxes;
- possible risks associated with causing damage to the property of other persons (for example, the property of neighbors in case of flooding or during repairs).
The policy will also help you avoid possible problems that may arise in relations between different owners. All risks are specified in the contract.
In most cases, property insurance for individuals occurs on a voluntary basis.
Insured event is an event the occurrence of which obliges the insurer to make insurance payment.
In property insurance, the following insured events are distinguished:
- robbery, criminal acts;
- fire;
- flooding (break of sewerage, water supply, flooding by neighbors);
- emergency situations;
- natural disasters.
In addition, you can insure your own liability associated with damage to the property of third parties. This action will help avoid unexpected expenses and guarantee receipt of financial compensation in the event of damage or loss of the insured property.
Insurance companies offer various options and insurance programs, among which every citizen can find suitable ones.
In addition, special preferential programs are being developed at the state level that make insurance available to a wide range of citizens who own various property.
How many times can you insure?
The existing rules for insuring the property of individuals state that every citizen has the right to protect his property by concluding an insurance contract.
It is impossible to conclude an agreement in relation to one insurance object simultaneously with several organizations in order to increase the insurance payment. This is prohibited by Russian laws.
However, as they say, “there are exceptions to every rule”, in in this case it is also available. Its essence is as follows: if the policyholder has not insured the object for its full value, then it can be re-insured with another insurance company.
Upon the occurrence of an insured event, each insurer undertakes to compensate for damage in an amount proportional to the amount of the insurance premium to the total amount for all contracts.
It is also possible to conclude contracts with different insurance companies to insure the same property against different risks. In the event of loss or damage to the insurance object, compensation will be paid by the company that sold the policy against the risk that occurred.
In this case, there is the following rule: when insuring the property of individuals previously insured by another organization, you must provide reliable information about the existing policy in writing to the other insurer.
The purchase of a policy from an insurance company on the personal initiative of the owner of material assets is provided for and regulated by the law of the Russian Federation “On Insurance”.
Individuals themselves have the right to decide what property they want to protect and for what amount: this can be not only residential premises, but also furnishings, household appliances, accessories, and antique valuables.
In addition to movable and immovable property, citizens can insure the interior and the premises itself against:
- damage of any degree;
- complete destruction and loss.
Compulsory insurance of property of individuals is not declared by law, however, there is the concept of an imputed policy, which is necessary to obtain a mortgage. Thus, financial organizations strive to reduce their risks in case of force majeure.
Citizens have the right to refuse to comply this condition, however, this may result in higher interest rates.
Peculiarities
The main feature of voluntary insurance is the freedom to choose what property and for what amount to insure. Agreements may differ from analogues in the amount of risks covered.
The most beneficial are those that spell out specific situations in which compensation is provided.
The property insurance contract for individuals begins to be valid at the time of conclusion after payment of the first insurance premium, and is terminated upon expiration of the validity period or if the next payment of the insurance premium is not made within the agreed time frame.
Insurance rules
There are certain rules for insuring property of individuals. To sign the contract you need to contact insurance company. At the appointed time, an agent will arrive to evaluate the property and conclude an agreement. The client can insure all of his property or a certain part of it.
The conditions and method of compensation are specified in the contract and depend on the degree of responsibility.
The fact that an insured event occurred must be declared no later than 3-4 days (or another established by the contract) by submitting an application to the insurer, which should describe in detail under what conditions and circumstances the incident occurred, what property was damaged.
After the inspection, the insurance company pays compensation.
IN modern world concluding voluntary insurance contracts for private property is not a whim, but a necessity to maintain confidence in the future of your family. Having an appropriate agreement, you can protect yourself not only from the negative impact of natural disasters, but also from political and economic turmoil.
Video. Voluntary property insurance.
Apartments and houses are expensive, and anything can happen to them - fires, floods, natural disasters... Voluntary property insurance is a great way to protect your property and prevent huge financial losses.
Insurance rulesMortgage insurance
The program from Rosgosstrakh for mortgage borrowers is guaranteed support in terms of fulfilling your financial obligations to the banking institution that provided the loan for the purchase of housing. The cost of property insurance in this case will pay for itself many times over if the main source of income is lost. And this can happen for various reasons: due to loss of ability to work, sudden large expenses, for example, for home repairs after damage, etc. With Rosgosstrakh you will protect your finances in the event of loss or partial restriction of property rights.
Pay attention! Life insurance is required when taking out a mortgage.
Title insurance
Property insurance under this program is recommended for those who plan to purchase an apartment, country house or other real estate. For example, this could be buying housing on the secondary market. The terms of title insurance of property allow you to protect yourself in the event that the transaction is declared illegal for reasons that were unknown to you when completing the purchase and sale transaction of the property.
Other insurance rules
Rules for voluntary insurance of property rights (title insurance)
The cost of property insurance depends on many factors, so we recommend that you contact our specialists for clarification.
In the field of property insurance, the first industry to emerge was the protection of material wealth of individuals.
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Personal property insurance is carried out to create financial security in the event of a threat to existing personal assets.
What is it
Property insurance for individuals is a type of non-personal insurance, the object of which is a certain property interest.
This interest is associated with the exercise of property rights. The non-personal nature of such insurance means that its objects are unrelated to the life and health of a person, the implementation of his personal inalienable rights.
The object of such insurance is always the property or material interest of an individual. It is mainly carried out on a voluntary basis.
Material goods that belong to the policyholder on the basis of ownership are subject to insurance.
The property rights regime creates real risks that are associated with the use, disposal and alienation of special objects.
It is the insurance of property of individuals that allows you to avoid unforeseen expenses and losses that arise in the process of realizing property rights.
This type of insurance acts as a guarantee for receiving compensation in the event of complete or partial damage to property, its absolute or local destruction.
Property insurance for individuals can be double. This means that every individual can protect their material assets. a person may have several insurers.
The justification for such duality is the special regime of property, which is established by a number of norms of the Civil Code of the Russian Federation.
If we refer to the law, then a thing or object that belongs to one person on the basis of property rights is untouchable. All objects of property rights that are subject to insurance are of particular value.
For example, household items and land plot. But the object of insurance of property of individuals will be a land plot, which is of particular value and for which a certificate is issued in a special manner.
The property insurance contract for individuals will be drawn up on the basis of a title document.
Peculiarities
In fact, individuals insure property in order to receive monetary compensation or damages in the event of a risk event.
On the territory of the Russian Federation to property insurance of individuals. People still treat people irresponsibly. A good example of what this attitude leads to is the natural disasters that hit Asia.
In this region (with the exception of developed countries such as Japan, Korea, Singapore), property insurance for individuals is not widespread. Therefore, the consequences of natural disasters fell on the shoulders of the owners of almost destroyed houses.
In the West, property owners in 90% of cases prefer to insure it, and this should be a guideline for everyone who does not want to risk their life’s work.
Having an insurance policy for an individual allows you to receive compensation in the following cases:
- fire;
- robbery, theft, robbery or embezzlement;
- illegal actions of third parties with deliberate and careless damage to property;
- , atmospheric or natural phenomena.
Property insurance for individuals allows you to protect yourself from causing damage to your neighbors’ property. Civil liability security in this case is an excellent help in the event of unforeseen circumstances.
The features of this type of insurance include the principles of compensation for damage. Firstly, the insured person must report the occurrence of an insured event within 3-4 days.
The statement shall indicate where and under what circumstances the incident provided for in the contract occurred.
All damaged or destroyed property must be listed. Secondly, the fact of compliance of the specified circumstances with the contractual terms of insurance is checked.
If the damage or destruction of property that occurs is covered by the policy, it determines the amount of damage and insurance payment. An insured event report must be drawn up.
Rules
Regardless of whether the insurance was voluntary or compulsory, according to the established rules, upon the occurrence of an insured event, an individual must contact the insurer and the competent government authorities.
After a certain period of time after notification, the policyholder must submit a package of documents to receive monetary compensation.
The following documents must be submitted:
- insurance certificate;
- payment receipt insurance premium;
- confirmation of the insured event;
- documents that relate to the reasons for the occurrence of the insured event and the losses caused.
The policyholder must submit a notification to the insurer about the occurrence of an insured event immediately within the period established by the contract.
After checking all the information and drawing up a report on the occurrence of an insured event based on the results of the investigation conducted by the emergency commissioner, compensation is paid.
Act on the occurrence of an insured event according to general rules must be drawn up no later than 10 days from the date the insured person submits the application. But such a rule cannot be applied to the response procedures of all insurance companies.
Insurance payments are always determined on an individual basis. The basis for their calculation is the initial insurance amount.
The insured amount depends on the value of the object and existing limits. Insurers do not insure the property of individuals for an amount exceeding its actual value. The insurable value is determined during a special economic assessment.
For example, in order to insure a plot of land with a house, it is necessary to conduct a market assessment of the value of the land and the building separately. Based on the expert opinion, the insurer will subsequently calculate the insurance amount for the policyholder.
Don't forget about the existence of the franchise. This is the amount that will be deducted from the payments received by the policyholder.
There are two main types of franchise: conditional and unconditional. Property insurance is most often carried out using a conditional franchise.
What can be insured
The object of insurance is almost any valuable property of citizens that belongs to them by right of ownership.
May be insured:
- land plots;
- apartments, houses, outbuildings;
- household items, equipment;
- vehicles.
And the land plot on it is held under two separate policies.
What are the risks?
The main risks against which an individual insures his property may be:
- property damage;
- its partial loss;
- complete loss or destruction of property.
An interesting possibility is insurance of civil liability to third parties regarding damage to their property. The risk of causing harm to another person's property is equal to that associated with the destruction of personal material wealth.
Civil liability insurance will help avoid problems that arise when multiple owners interact.
Compulsory and voluntary insurance
Today, property insurance for individuals is carried out, as a rule, in a voluntary form.
Compulsory insurance applies only to leased land plots that are state or municipal property.
Scheme: types of voluntary property insurance for individuals.
The most common object of voluntary property insurance is buildings. The main conditions for a building to be insured are its real estate, permanent residence in one place, the presence of walls and a roof.
What does the contract say?
The insurance contract must indicate its parties. The insurer can be any non-state savings fund or company licensed to provide this type of service. The insured is an individual or enterprise, firm, or organization.
With civil liability insurance, there is also a beneficiary – the person whose property is at risk.
The contract is concluded on the basis of an oral or written application submitted to the insurer.
Validity period – 1 year or several months. Inspection of the contract objects is not carried out if the insured amount does not exceed the one offered by the insurance company employee.
Otherwise, the property is assessed. On its basis, the insurance amount is established, the amount of contributions is calculated and the procedure for paying insurance compensation is formed. The fact of concluding an agreement is confirmed by a special certificate.
Insurance payments are calculated according to the amount, period of insurance and depend on the degree of risk with tariffs.
Contracts for insurance of property of individuals always differ in the volume of covered risks.
For example, you can insure your apartment with liability for all risks from the policyholder.
Insurance payments under such an agreement are provided for damage or destruction of property by all possible means.
Contracts with liability for certain risks are much more beneficial for the policyholder, because the documents clearly state the cases in which payments should be made to clients.
As for insurance of especially valuable household property, the guarantee agreement is drawn up on a special form.
Property insurance for individuals is no longer regarded as modern society like a whim. It is simply necessary to maintain confidence in the future.
After all, individuals are never insured against negative political, economic and atmospheric phenomena unless they have a confirming policy in hand.
Price
Comparison of costs for real estate insurance for individuals:
The subject of comparison was real estate worth 3 million rubles and the cost of repairs was 20 thousand.
The object is personal property: structural buildings (apartment, house, garage, outbuildings, etc.), movable property inside these buildings, decoration and technical equipment, valuable movable property, objects of unfinished buildings. The contract specifies the amount within which the insurer compensates for material damage to the beneficiary upon the occurrence of an insured event. You can protect yourself from the risk of loss of property rights, from liability to third parties, from damage and damage to property.
Common types of property insurance for individuals:
- Fire damage. An insured event is recognized in the event of a fire, explosion, including domestic gas, lightning strike, fire due to ignition household appliance from voltage drop, etc.
- Water damage. Leaks due to problems in the heating, sewerage and water supply systems, water ingress from technical and neighboring premises, flooding as a result of accidents at hydraulic structures.
- Natural disaster. Damage or loss of property due to earthquake, landslide, storm, hurricane, flood, inundation, etc. Other dangerous natural phenomena (snowfall, rain, hail, etc.) that are recognized as extraordinary or atypical.
- Illegal actions third parties. Theft, robbery, robbery, arson, vandalism, hooliganism, riots.
- Mechanical damage. Falling poles, trees, lighting poles, construction cranes, manned and unmanned aerial vehicles, damage from a rebound object, for example, gravel from under the wheels of a car, falling astronomical objects, collision with a vehicle.
- Civil liability. Allows you to protect material losses in the event of damage to the property of third parties, their life or health. That is, it will be useful in case of accidental flooding of neighbors or a fire due to your fault. In addition, some companies undertake conflict resolution and negotiations with the injured party, which greatly simplifies the life of the policyholder.
This list of insurance companies may differ or have certain exceptions and clauses under which compensation for damage is not provided, so you should carefully study the insurance contract.
You can always add additional risks such as: short circuit, broken glass products, animal actions, design defects, terrorist attack, etc.
The objects of property insurance are real estate, repairs and construction, cash, deposits, art, furniture, household appliances, consumer electronics, equipment - the segment is incredibly wide. Among the most popular risks are loss, theft, intentional damage, and damage. It will not be possible to insure property that is stored on premises in disrepair. They will also refuse to work with faulty machinery/equipment or items with external damage. To begin cooperation, the policyholder must confirm ownership of the item.
You can insure anything: from a large sum of money to a pet canary
The main thing about real estate insurance
You can insure both a city apartment (structural elements, engineering equipment, interior decoration, movable property and civil liability) and country housing: cottage, garage, bathhouse, fence, land plot and landscape design. A variety of risks can be included in a property insurance contract for individuals: fire, damage from water from a water supply or sewerage system, natural disasters, explosion, including domestic gas, theft, robbery, hooliganism, natural disasters, including earthquake, if the property is located in a seismological zone .
The full package will cost more than individual risks. Tariffs are affordable: as a rule, they do not exceed 0.15% of the insurance cost. The policy period is chosen by the client; it can be several days, for example, if you fear for your property during a vacation or business trip, up to 12 months. The conclusion of the contract is preceded by an assessment of the market value and condition of the property.
There are many requirements for insured property, including its location
When is title insurance needed?
When making real estate transactions, there is a risk of losing ownership, because it is difficult to track the history of an object and make sure that it is “clean”. By concluding a title insurance agreement, which is required by banks before issuing a mortgage, the buyer will be able to protect himself.
If an insured event occurs - loss of property rights or restrictions on ownership - losses are compensated in the amount of the actual market value. Before selling such a policy, insurance company employees will carefully check the house or apartment for the “purity” of the transaction.
In the primary market, a title insurance claim occurs if a developer fraudulently sells one apartment to multiple persons. On the secondary level - for example, if one of the owners of the sold property was in prison or the interests of a minor family member were not taken into account during privatization.
Title insurance of real estate is relevant if the property has a history of transactions
Features of mortgage insurance
If, under normal conditions, insurance of real estate of individuals is not required by law, then when lending, banks put forward a requirement to issue such a policy. It is necessary to insure not only the object - an apartment or a house - against loss or damage as a result of physical destruction: additional emphasis is placed on the life and health of the borrower, as well as on the title - the restriction or termination of ownership rights.
The insured amount is equal to the loan amount or increases by 10%. The validity period of the mortgage policy is similar to the loan period, with the exception of the title (in the latter case, some banks limit it to three years). Comprehensive insurance for all risks will cost 0.5-1% of the loan amount. Payments are made once a year, and the amount of annual payments decreases along with the debt.
Nuances for those interested
- The insured item, be it equipment, furniture or cash, must not leave the place specified in the agreement, otherwise liability is canceled.
- Clarify what is the object of insurance of an individual's household property in an apartment: sometimes the contract only covers the walls, floor and ceiling, and communications, decoration and repairs are your concern!
- If the building has undergone significant wear and tear (60% for a wooden building and 70% for a stone one), the policy will most likely be denied, as and if we're talking about about the building to be demolished, major renovation or confiscated.
- Weigh the decision to insure real estate without inspection, since such a policy has restrictions on the set of risks, indemnity limits and features of calculating payments when an insured event occurs.
- The preferential rates that some insurance companies offer include low payments, but also “no” payments. Such savings will not justify themselves.
Even if you are not yet planning to take out a mortgage and the law does not oblige you to contact insurance companies, is it worth tempting fate by hoping for chance? Residents of European countries have long chosen this protection option for themselves. That is why natural disasters, thefts or fires are not the end of the world for them, but only an unpleasant stage, which compensation from the insurance company will help them survive.
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