Home Insurance is widely spread abroad. In Ukraine this service property insurance only gaining popularity. Information and analytical portal “Capital estate” decided to figure out how to insure your property, how much it costs and how to get compensation from the insurance company.
Home Insurance Gains Momentum
According to experts, real estate insurance services often are residents of rural areas. “It is often, by inertia, in memory of a Soviet-era apartment buildings where the insurance was optional, but I must say that this is very useful habit. Despite the fact that the insurance amount not large enough to completely offset the loss after a fire or flood, insurers can still get some help, which may not exceed the amount paid premium of 100-150 times, “- said Alexander Shishko, head of banking organizations Sales of Banking Insurance NAIC “Orans”. He also noted that in recent years more and more urban residents insure their apartments. In most of them prefer insurance with limited sum insured. “This policy is cheaper. For example, at a limit of 350 thousand. it may cost about 1 thousand. Fully losses from catastrophic loss does not pay, but it can be a very good help with partial damage that occurs much more frequently than global catastrophe “- said the expert.
Home Insurance. It’s worth it.
To determine how much insurance will cost, take into account a number of factors. Price depends on the same property. The risks of injury or death to a variety of real estate – are different, so therefore the cost of insurance is different. “Insurance companies determine insurance rates, based on the statistics for accidents objects of insurance, so the rates for these facilities will be different”, – says Alexander cones.
According to Alina Voitovych, Deputy Head of property insurance and liability insurance company “AXA Insurance” cost of insurance depends on the following factors:
value of the property;
size of the franchise (ie the part of the damage is not covered by the insurer)
set of insured risks;
Building material properties. For example, the cost of insurance wooden house will always be 2-3 times higher than for building, built of brick;
in the case of non-residential real estate, the price is also directly affect activity (production), which is in insured buildings or premises;
other non-residential property parameters are taken into account individually (organization of fire protection in buildings, life estate and the level of wear and tear, location and presence of dangerous objects in close proximity to the building, etc.).
“In addition, it is important to know, do we only insure the building structure, in other words” wall “and we include insurance in the amount of finish or even built equipment room. One of the most important indicators – cost structure. Other things being equal – the more the value of the property, the lower the rate. This is because the probability of occurrence of small-scale cases of loss is always greater than catastrophic, “- adds Alexander cones.
According to him, the damage size is 100 thousand. occurs much more frequently than loss of $ 10 million. But the size of the loss of 100 thousand. for the construction cost of 100 thousand. – This is a total loss, and for the construction cost of 10 million – a 1%. If we talk about the thing that most insured property, this fire risks (explosion, fire, lightning), natural disasters (storms, heavy rains, flood, landslide), break fluid systems of water supply, sewerage, heating, illegal actions of third people hitting vehicles.
By the way, last, experts say very true for all that is on the ground floor and is worthy of a separate structure. “Based on the foregoing, it must be concluded that the value of an insurance policy can be very different. If you take a middle option, it ranges from 0.3% to 0.9% of the amount by which the insured property, “- said Alexander cones.
Home Insurance. How to achieve benefits?
If the estate of the insured incident, you should clearly understand what to do. This is important because this depends on whether you receive compensation, because you first need to prove the insured event. In signing this contract, you should carefully read the requirements and sequence of actions in case of an accident. “In order to get paid in case the insured event in the first place, we must remember the responsibilities under the terms of insurance contracts and the actions required by the parties upon the occurrence of such event.
Usually just read an insurance policy, you can find answers to all questions concerning payment and the procedure to obtain it “- says Alina Voytovych. In case of emergency, just need to call firefighters, police, staff housing (ie, service charge depending on the nature of the insured event) and require reclamation certificate that happened. “As soon as possible Proclaim insurance company – get expert employee and record the size of the damage suffered, so did not have any doubt about whether there was damage as a result of an insured event or the next time the amount of damage increased due to additional factors” – recommends Mr. cones.
He also advises to keep bills, receipts and other evidence of the value of your property, you can pay on savings relatives, for example. “The clearer and fuller documentary evidence, the less grounds for discussion,” – he said. If we talk about the timing of insurance, they are usually specified in the contract and terms of insurance. “In practice, the rate of payment of insurance, depends on direct insured, namely from his actions when an event occurs and the speed of the documents required for payment. Also, do not forget that the amount of damages – is the value of the cost of restoring the damaged property developments in the investigation, not additional income or financial benefit that is going to get insured as a result of occurrence of a particular event. Thus, the desire to get insured over incumbent may cause an increase in terms of claims settlement, “- said Mrs. Voytovych.
According to experts, the average insurance company determine within 30 days drafting insurance act as the basis for payment of compensation, and for 10 days thereafter, they undertake to transfer money to the victim. If a company fails to comply with these obligations, the insurer is entitled to charge her penalty for each day of delay. The size of the penalty as prescribed in insurance contract.