Apartment insurance: types, risks, conditions

Residents of Russia are wary of the services of insurance companies (IC). This conclusion can be drawn due to the large difference between the number of concluded contracts for compulsory and voluntary insurance. Why this happens is hard to say. But the main reasons for this situation can be identified:

• low incomes of the population;
• underestimated level of trust in insurance companies;
• superstition (if I insure myself, something bad is bound to happen).

Often, if events occur that are harmful to our health or property, we regret that we did not conclude an agreement with the insurance company on time.

In this article, we will analyze the specific direction of their services - the protection of property interests by issuing a policy for

Why is such a service needed?

No matter how much we want to, we are not able to control absolutely all the events that happen to us. Sometimes things happen that you can't foresee. For example, you were flooded by a neighbor from above or there was a fire among those who live below your apartment. Of course, it's better that this doesn't happen. But, if you imagine that this happened, what sensations await you? Brokenness, anger and the like. Now think about how you would feel if a misfortune happened, but you managed to make financial protection for the apartment before that. Feelings will not be so negative, because insurance inspires peace of mind.

What types of insurance are there?

Such services can be divided into several types, according to different characteristics. Depending on the risks, apartment insurance can be made:

• as personal property;
• liability to third parties.

The apartment insurance contracts contain a list of housing elements for damage to which the insurance company is liable. They can be structural elements of a building, interior decoration, household items, and so on.

If an agreement is concluded to determine the measure of liability to third parties, then the UK will compensate for the damage to your neighbors if you somehow damaged their property as a result of an accident.

Some companies offer comprehensive apartment insurance, which provides for various risks of damage to property, as well as damage to third-party housing.

Mandatory and voluntary

You can also divide home insurance into mandatory and voluntary. The first type includes those contracts, the conclusion of which the bank insists in various cases. For example, you take a loan secured by property. In such a case, the financial institution will insist on mandatory collateral insurance.

Mortgage apartment insurance can also be attributed to this type, because the bank is interested in ensuring that the property that has not yet completely passed into the possession of the client is completely safe. Without this, you will not be given the appropriate type of loan.

If you decide, for example, to insure against flooding of an apartment on your own initiative, then this type of policy will be called voluntary.

List of risks

In each insurance company, insurance contracts are developed individually. It is there that you can find out for which specific risks the company is ready to take responsibility.

However, it is possible to draw a parallel and compile a list of situations that will be insured by most insurance companies operating in the territory of the Russian Federation:

1. Explosion or fire.
2. Flooding.
3. Illegal actions of third parties (hacking, theft of property).
4. Influence of bad weather conditions (natural disasters).
5. Mechanical damage due to other events.
6. Falling aircraft, collision with vehicles, etc.
7. Damage caused by neighbors during the operation of the dwelling.

The listed groups are further divided into dozens of specific situations that should be provided for in the insurance contract. To gain confidence in protecting your property interests, you need to carefully and slowly study them while reading the policy.

How much does an insurance policy cost?

Of course, it all depends on the insurance company itself and the list of risks that it proposes to include in the policy. For example, consider the services offered by Sberbank. Apartment insurance can be made in one of four options. Each of them implies comprehensive protection, but differs in the amount of the insurance payment and the maximum amount of monetary compensation.

Specific examples

Let's consider this statement on a concrete example. The first policy will cost 1,750 rubles a year. For this money you will receive insurance:

• interior decoration in the amount of 200 thousand rubles;
• movable property for 150 thousand rubles;
• civil liability for 100 thousand rubles.

The second option will cost a little more - 2250 rubles. In this case, the following insurance limits are present for risks:

• interior decoration - 250 thousand rubles;
• movable property - 200 thousand rubles;
• civil liability - 150 thousand rubles.

Let's consider the third option, according to which it is possible to insure an apartment. The cost of the policy is 4950 rubles. Under the contract, there are the following restrictions on the financial liability of the company:

• for interior decoration - 600 thousand rubles;
• for movable property - 400 thousand rubles;
• for liability to third parties - 400 thousand rubles.

The following options are more expensive, but the available sums insured are higher. For 6,750 rubles, you can purchase the most expensive policy offered by Sberbank. In this case, apartment insurance will be limited to an insured amount of 2 million rubles.

List of insurance items

The interior decoration and built-in engineering equipment of the UK include:

• a layer of materials intended for finishing walls, floors, ceilings;
• any engineering and plumbing equipment;
• glazing;
• door blocks;
• overlap;
• partitions from various building materials;
• electric meter and wiring.

If movable property is insured in the contract, then the following is meant:

Civil liability is understood as damage to the property of neighbors (for example, flooding), as well as harm to life and health (explosion, fire).

What do you need to pay attention to?

Based on this, it is necessary to study the insurance contract, as it indicates the risks and situations in which monetary compensation is paid. Even if the policy literally says “apartment fire insurance”, then pay attention to the clauses of the contract that apply to situations where compensation does not occur. Many clients simply do not read the last clauses of the contract, which is very important. After all, the cost of insurance depends not only on the list of risks, but also on situations in which the insurance company may refuse to pay you.

For example, most insurers often refuse to pay compensation in the following situations:

• if the damage occurred as a result of emergency situations, hostilities, rallies, civil unrest, terrorist acts;
• there has been radioactive or chemical contamination;
• the damage happened due to the end of the factory life of the item;
• if the insured property was used for other purposes;
• the structures of the building were incorrectly designed or the construction of the house was carried out in violation of the building rules of the Russian Federation;
• the events that led to the occurrence of the insured event began to occur before the conclusion of the relevant contract;
• damage to property occurred as a result of actions that are not in the list of insured events.

As you can see, there is a fairly wide list of incidents in which damage is not compensated.

Apartment insurance: reviews

Of course, everyone treats insurance differently. Even those who have issued policies to protect their apartment have different views on this service. To a large extent, it depends on the SC itself.

Judging by the reviews, the consultants of a particular company simply miss or deliberately do not talk about some of the nuances that clients do not know about until they reach the stage of indemnification.

There are also companies that find a million reasons to refuse payments to customers. Therefore, when choosing an insurance company, it is necessary to pay attention to the reputation of the organization, as well as customer reviews. In addition, you can check the ranking of companies by the amounts of refunds paid and premiums collected.

But be prepared, because the services of a good company are not cheap and you will have to spend a decent amount on payments. However, in the event of an insured event, you will be 100% sure that the insurance company will not let you down.