How to profitably insure an apartment and what needs to be done for this

Russia traditionally underestimates the need for insurance and the most underestimated type of it is apartment insurance.

In this article, we will consider the need for this action, as well as give advice to those who decide to do this.

We are talking about how and where it is better to insure an apartment, and not housing in general, as in this case, slightly different risks and terms of contracts apply.

Why do you need to insure an apartment at all?

Most people reason within the framework of everyday logic, something like this: “The car is fragile, it can break, and I’m not a good driver, it’s worth insuring it.”

By the same logic, life is insured.

but such a thing as an “apartment” is for some reason perceived by most Russians as something monolithic and durable, therefore, and insurance is not needed for it.

In some ways, these reflections are definitely true: episodes when people find themselves without a roof over their heads - explosions of a household gas pipeline (almost always accompanied by a collapse of the entrance), natural disasters, fires of destructive power, etc. occur relatively rarely.

However, in all these cases, the victims, who had such insurance, moved into new housing within a couple of months.

However, apartment insurers do not live by walls alone, because they also offer such types of insurance as:

apartment repair (interior) insurance, what will help compensate for damage from water leaking from neighbors from above or a middle-class fire (like wall insurance, it is included in the full insurance package);
insurance of items inside the apartment, what will help compensate for damage from the same fire or even theft (also included in the full insurance package);
civil liability contracts- analogues of DSAGO for apartment owners who are afraid that they may accidentally flood their neighbors (purchased separately).

What needs to be done to insure an apartment?

Due to the fact that our insurance companies are actively adopting the experience of their foreign colleagues, At the moment, there are two options for full apartment insurance in the Russian Federation- standard (aka express) and classic.

What is the difference? It's simple: in the first case, you will be issued a policy without inspecting your apartment, right in the building of the office of the insurance company.

In this case, the insurance value of your apartment will be calculated as a percentage of your insurance premiums.

In the second case, an insurance agent will come to your home to check the condition of the apartment. and determine its insurance value.

In this case, the insurance cost of the apartment will affect the size of insurance premiums.

To insure housing in general and an apartment in particular, you will need a certain set of documents.

Here we provide a list of documents required from the point of view of general legislation, however, insurance agents, if necessary, have the right to require other documents.

So, for successful home insurance you will need:

identification or a copy of it. Ideally, you need a passport, but a military ID will also work;
apartment insurance application form(the form will be issued by the insurance company);
apartment description(the material of the house in which it is located, its age, the number of rooms and the area of the apartment). In classical insurance, it is replaced by data collected by the insurance agent;
description of movable household property, located in the apartment, and it is desirable to have checks for it. Again, with the classic type of insurance, the data is provided by the agent, but checks are not needed;
documents confirming the ownership of housing(you can not provide, but simply report their presence, but in the event of an insured event, you will have to find them);
documents confirming the insurance value of housing(same situation as with the previous paragraph).

Which type of insurance should I choose?

This is a very good question, because only you can understand what you need.

Let's start with insurance options - there are only two, so we can quickly narrow down the list.

Peculiarities of express insurance

Instant Insurance when contacting the office of the insurance company, which saves you time.

The amount of the sum insured is determined by you, so you can even take a policy that costs more than your apartment (although the payments on it will be significantly higher).
It is necessary to keep all receipts for movable property, as this is the only way to get paid on them.
You can insure the apartment immediately with OSAGO insurance or casco.
You can not let strangers into the territory of your home.
The maximum insurance amount is from 50 to 100 thousand dollars, so if you have an expensive apartment, you may have to look for a company that is ready to insure you. Sometimes there are additional restrictions on the cost of repairs, movable objects, etc.

Features of insurance according to the classic version

Insurance takes a little longer than express insurance, as you have to wait until an agent arrives at your home and describes the condition of the apartment and property.

The amount of the sum insured depends on the assessment of the condition of the apartment, its interior and property in it.
You are not required to keep any documents, except for those that confirm the ownership of housing, and an insurance policy.
Some companies offer to conclude contracts at home on a preliminary call of an agent, so you may not you don't have to go anywhere.
The maximum sum insured is not limited.

Actually, you should choose depending on the cost of your apartment and the repair in it.

If it exceeds $ 100,000, then it is better to take the classic version.

But if you live in relatively budget housing, then the express option will help you save time.

Types of apartment insurance

We decided on the option, now let's look at the types.

The complete package - all three of the above items:

Insurance of load-bearing structures. A rather expensive type of insurance, which, moreover, rarely has to be used. However, if its cost is insignificant for you, then you may well purchase this package;
Apartment interior insurance. A mandatory item, as it allows you not to worry about neighbors who can flood with water, wiring short circuits and small fires;
Movable property insurance. Great item guaranteeing compensation for stolen property. Also a must, especially if you have expensive electronics at home.

Civil liability contracts are good in cases where a good repair has been made in the apartment below you, and you are afraid that faulty plumbing or any other troubles on your part can destroy it.

In fact, it is an analogue of DSAGO for apartment owners and is recommended for purchase.

How is an appraisal of an apartment and property carried out in the classic version?

When insuring the apartment itself (repair or load-bearing structures) the insurance agent draws attention to the condition of these structures, their age, workmanship and material used.

In addition, the reason for the reduction of the sum insured may be poor-quality or incorrectly performed repairs (for example, closing ventilation holes with solid decorative panels).

Also the fire safety of the apartment is assessed, the condition of the wiring and related elements.

The highest insured value is received by apartments in new buildings with high-quality European-quality repairs, so, taking those apartments as ideal, you can try to estimate the insured value of your own.

When it comes to property insurance, things are different.

Firstly, technology, like an apartment, becomes cheaper over the years.

A similar process occurs with furniture.

But with antiques and art objects everything is more interesting - an appraiser will arrive with the insurance agent(unless, of course, you mentioned that you have antiques), which will determine their value.

And if it exceeds the amount for which the insurance company is ready to be liable, then its insurance value will be reduced, no matter how much it actually costs.

After reaching the total value of antiques of a certain amount, you will be asked for documents for owning it - checks from auctions, etc.

However, these are rather desirable documents, since they will be insured in any case, but the insurance cost will be significantly lower.

By the way, if you want to insure family jewels, which are more expensive in memory than in price, then look for a company that takes into account the amount declared by the client.

True, and the price of the policy of such companies is higher by 30-40%. Weapons, especially antique ones, can also be insured, but only if you have permission for them.

Tell me, when insuring an apartment, do you need to pay premiums every year or is it a one-time payment? The bank indicated to us in the approximate list of costs insurance in the amount of 0.18% of the value of the property. It turns out 3600 rubles. After all, the insurance company cannot compensate our losses if we pay only this amount?! Thank you in advance!

Maria, do you want to take a mortgage? I just don’t understand why the bank informs you about the cost of insurance, and not the insurance company. If this is a preliminary estimate, then the amount is of course very small and similar to% for title insurance. With a mortgage, real estate goes from 0.3%. I advise you to check with the bank and the insurance company in which you are going to insure the apartment.

I insure my apartment from the first year of living in it. I don't think it's overkill. The insurance policy is not so expensive to think about money. But I don’t think about whether the neighbors’ radiator will burst, whether they will forget to turn off the tap, whether their child will tear off the hose at the washing machine. It is clear that I will not receive moral damage if an emergency happens, but I will be compensated for material damage.

So, you have decided to insure your apartment or your civil liability. The first thing to do is to choose an insurance company, of which a huge number have recently divorced in our country.