Mortgage insurance- this is a way to protect the financial interests of the borrower to repay the loan in the event of unforeseen circumstances and one of the mandatory requirements of banks and other credit organizations that issue mortgage loans and loans.

Ingosstrakh offers its clients comprehensive mortgage programs developed and agreed with banks and credit institutions.

Remember that the presence of a policy is required to be submitted to the bank, and the choice of an insurance company is always yours.

At the same time, the cost of the policy may also differ depending on the chosen company, so we advise you to find out how much it costs to insure a mortgage using our calculator.

Structural elements

Insurance against fire or explosion, unlawful actions of third parties, destruction as a result of natural disasters, etc.

Borrower's life and health

Temporary incapacity for work, group I or II disability or death of the borrower / co-borrower due to an accident or illness

Loss of property

Recognition of the transaction as invalid, return of property to the former owner

What you need to know to get a mortgage insurance policy?

Policy filling

When applying for a mortgage or loan, an insurance policy may be required, which will include one risk or a set of them:

1. Insurance of the collateral (apartment, house). Only structural elements are insured.
2. Death and disability of the borrower / co-borrower.
3. Title insurance.

Further maintenance of the mortgage policy:

When concluding a long-term mortgage insurance contract with Ingosstrakh, you can pay your next installments online on our website or in your personal account.

Bank conditions:

According to the requirements of some banks sum insured can be increased by 10-15% to the loan amount / loan outstanding balance.

Rosvoenipoteka

A special insurance product for clients purchasing housing under the Military Mortgage program.

• Apartment insurance.
• Only structural elements are insured.
• Sum insured from 200,000 to 5,000,000 .
• A military mortgage insurance policy is necessarily accepted by such banks participating in the program as Promsvyazbank, Zenit, Sberbank. The product is recommended for use by FGKU Rosvoenipoteka.

How to get a mortgage insurance policy?

How it works?

When concluding an agreement with a credit institution, one of the mandatory points is the provision of insurance policy... Usually it is needed at the time of issuing credit Money.

Check with the bank for coverage requirements, or apply for a policy online (if the bank's requirements are met) and simply submit the policy to the credit institution.

The advantage of insurance for mortgage lending in Ingosstrakh

Ingosstrakh is accredited by most credit institutions.

The decision on the full cost of the policy with a full set of documents is made in 1 working day.

The signature and payment of the policy - in our office, at a transaction in a bank or in the office of your representative.

What documents are needed?

1. When insuring a pledged item - a loan agreement and documents confirming ownership, a copy of the report of an independent appraiser.
2. For life insurance - an application for insurance of the Borrower and (or) the Co-Borrower. It needs to be sent by email. If necessary, the insurance company can send for a medical examination or request additional medical documents.
3. When insuring a title, provide copies of the title deeds for the pledged object.

What affects the cost of mortgage insurance?

1. Requirements of the creditor bank for the amount of insurance coverage.
2. The size of the mortgage loan.
3. Age and gender of the borrower / co-borrower, health status.
4. The type of the pledged object and its technical characteristics - the material of walls and floors, wear and tear of structures. Object status - completed and whether the house has been commissioned. If the house has not yet been put into operation, only life and health insurance will be required, and if the house has already been rented out or you are purchasing secondary housing, lenders will also require insurance of the object itself - an apartment, house or other real estate.
5. The number and nature of previous transactions on the property (if title insurance is required).

The average tariff on the market, depending on the coverage and the selected lending bank, is 0.6–1%. For an accurate calculation, send an application for insurance.

Important! The insurance rate for complex mortgage insurance is formed from the sum of rates for each type of insurance included in the program.

Insurance policy for a mortgage: when is it needed?

Mortgage insurance is one of the conditions for obtaining a loan from a bank. The presence of the policy guarantees the financial institution a refund of funds, regardless of the circumstances that have arisen. You can insure both the property itself and the life and health of the borrower (in the event of his premature death, disability or illness of the insured, the bank will receive compensation under the insurance contract in one amount or another).

Home insurance for a mortgage does not cover the entire value of the acquired property, but only the part that the buyer borrows from the bank. If the amount is partially paid by the accumulated money (for example, 30% of the cost of housing), the policy is issued for the remainder of the debt (70%).

Why do you need to insure the life of the borrower when applying for a mortgage?

Mortgage life insurance is not required in all cases. Each bank itself establishes the conditions for the provision of a mortgage. Usually a policy is required when buying a home under construction.

Since the mortgage is issued for a period of up to 10-15 years, there is a high risk that the borrower may get sick, get injured and become unable to work. Therefore, it will not be able to pay off the debt in full. To protect the property interests of both an individual and a bank, mortgage life and health insurance is issued. In case of illness, the insurance company compensates for a part of the mortgage payment, proportional to the period of being on sick leave, in case of complete disability or death - the entire balance of the mortgage.

Mortgage risk insurance

Ingosstrakh provides mortgage insurance in three main areas:

• Property (collateral) insurance... It is designed to protect mortgage real estate, while the insured event means damage or complete destruction of the object.
  • Damage refers to the breakdown of windows, doors, walls and other structural elements.
  • The following events are included in the list of insurance coverage:
    • fire;
    • unlawful behavior of third parties;
    • harm caused by natural disasters;
    • hidden damage to the structure;
    • flooding;
    • explosion of gas or places of its storage, transportation, used for solving household, industrial needs.
  • The contract may, among other things, include insurance for interior fittings and engineering equipment or minimal repairs.
• Title insurance, which implies protecting the interests of the lender and the borrower in the event of loss of ownership of real estate due to intentional, illegal or dishonest actions, events during the course of the transaction or before its conclusion. That is, in case the transaction is declared invalid for one reason or another.
• Borrower's life and health insurance, which includes the execution of an agreement in the event of death, illness or disability of the borrower / co-borrower. It is an additional security in the execution of a loan agreement for a long term and is drawn up, as a rule, at the stage of unfinished real estate construction.

Mortgage risk insurance refers to a prerequisite for issuing a targeted loan and is a guarantee for the bank and the borrower in the event of unforeseen circumstances. On the Ingosstrakh website, you can purchase a ready-made program or select the settings that meet the bank's requirements when issuing a policy.

Actions in case of an insured event

What to do in the event of an insured event?

Upon the occurrence of an insured event, the Policyholder is obliged to perform the following actions:

1. Immediately report the incident to the competent authorities.
2. Immediately, no later than 3 business days (in case of an insured event under personal insurance - no later than 31 business days) after the occurrence / detection of the insured event, notify the Insurer.
3. Inform the Insurer in writing all information and submit the documents to the competent authorities.
4. Save the damaged object unchanged until it is inspected by company representatives.

How many times do I have to pay my mortgage insurance policy?

For annual policies the premium (cost of insurance) is paid in a lump sum at the conclusion of the contract, for perennial policies- by annual installments in the same period of time.

Pay your installment on time!

If the initial insurance premium has not been paid, the mortgage home insurance contract is deemed to have not entered into force and the Insurer is completely exempted from paying the insurance indemnity in the event of an insured event.

If the next (annual) insurance premium has not been paid, a notice of termination of the contract is sent to the client, and it is terminated. In addition, a copy of this notice is sent to the bank, which has the right to revise the terms of the loan agreement (increase the interest rate) in connection with the failure of the borrower to fulfill his obligations to service the loan.

Apartment insurance

Apartment insurance

When the renovation is completed and you start life in a new apartment or house, it's time to insure the finishing in it.

Home / summer house insurance

Home / summer house insurance

If you have a mortgage insurance policy, you will receive a discount on the policy for a country house.

Civil liability insurance

If you have to renovate or redevelop a new apartment, it's time to think about responsibility to your neighbors.

1. What is a mortgage?

   Mortgage - no collateral movable property(apartment, country house, townhouse, etc.). It remains in the ownership of the borrower of the mortgage loan, he has the right to live in it, even rent it out. But if the borrower fails to fulfill his obligation (debt repayment), the lender has the right to return the issued loan / loan through the sale of this residential property.

2. What is mortgage insurance?

   This is an insurance product (one or more), which is necessary to additionally provide the bank with the repayment of the loan. For the borrower, real estate insurance with a mortgage provides a guarantee of settling the relationship with the bank on a loan in the event of force majeure situations. Mortgage insurance includes, first of all, home insurance against the risks of physical loss or damage, life and disability insurance of the borrower and co-borrowers, as well as insurance against the risk of loss of ownership of real estate (title insurance). The bank may put forward a condition on insurance of two or three types within the framework of one policy or only one type: property - mandatory for a transaction in the secondary market by virtue of the Federal Law “On Mortgage”; life is mandatory when purchasing an apartment during the construction phase.

3. What is title insurance?

   Insurance of the risk of loss by a bona fide purchaser of an insured property due to deprivation of ownership for reasons beyond the control of the policyholder, on the basis of a court decision that has entered into legal force.
   Loss of ownership may occur if the transaction was executed with violations, the buyer faced fraudsters. More often, the danger lies in wait for those who buy secondary housing: for example, the seller can sell an apartment without the consent of relatives who have the right to a share in the apartment. After a while, this relative can go to court. The court, on the basis of the documents available to the applicant, has the right to order the return of all housing or a certain area to him.
   In the presence of a title insurance policy, in the event of such a court decision, the insurance company will pay the remaining mortgage debt to the bank.

4. How long is the mortgage insurance contract?

   In practice, a mortgage insurance agreement is concluded for one year or for the entire term of the loan agreement with an annual renewal. The duration of the mortgage insurance is determined by the requirements of the lender. As a rule, it is equal to the term of the loan agreement.

5. Until when is it necessary to have valid home insurance for a mortgage?

   Until the loan to the bank is fully repaid.

6. Is it possible to postpone the payment of the insurance premium / regular installment?

   When concluding the initial policy and when obtaining a loan - no, the presence of a paid policy is a prerequisite for issuing a loan. When purchasing an annual policy for the next (not the first) year of lending, this issue must be discussed with the bank, and a postponement is allowed only by written agreement with it.

7. What happens if the insured event occurs during the deferred payment of the insurance premium?

   The insurer has the right to send the Insured a claim for early payment of the deferred amount of the insurance premium.
   If the deferred premium is not paid within 10 calendar days from the moment the request is sent, the agreement is considered not to have entered into force.

8. What happens if, on the date of the insured event, the insurance premium under the contract has not been paid in full, but there is no delay in the payment of premiums?

   At the written request of the Insurer, the Policyholder is obliged to pay the insurance premium within 10 calendar days up to the amount specified in the contract for the entire insurance period.
   This document may also provide that in case of partial payment of the insurance premium, the Insurer deducts the amount of overdue contributions from the amount of insurance compensation / payment.

9. Is it necessary to come to the office of the company to apply for a home insurance policy for a mortgage?

   There are options: for primary transactions in the bank, the insurance contract can be agreed upon by you and the employee of the insurer remotely via electronic means of communication or with the assistance of the employees of the bank issuing the loan, or with the help of a person representing the interests of the client (realtor). In this case, the originals of the policies, signed by the Insurer, will be delivered by the courier for the transaction to the bank for signing by the clients. With certain parameters of the insurance object and for individual credit organizations, the policy can be issued through the official website of the company in the form of an electronic document. In other cases, the presence of the Insured in the office is necessary.

10. What if I lost my mortgage insurance policy during its validity period?

    You must contact the Ingosstrakh office, where a duplicate is issued on the basis of your written application. You must first call the insurance company and agree on the receipt of this document.

11. Is it possible to change the terms of the contract?

    Yes, by agreement of the parties. The parties are obliged to notify the beneficiary, the bank, of any changes to the insurance contract.

12. Is it possible to replace the beneficiary during the term of the contract?

    According to the terms of the loan agreement, the bank that is the holder of the loan or mortgage must act as the beneficiary for all types of insurance. In the event that a loan (mortgage) is redeemed by another financial institution, the beneficiary under the policy changes automatically, no additional notifications or agreements between the parties are required. If the lending bank changes (when refinancing), then you need to contact the insurance company to renegotiate the insurance contract.

13. Where can I get confirmation of payment for the bank?

    It is necessary to write a request to Ingosstrakh for the issuance of such documents, be sure to indicate the number of the contract and the date of payment.

14. Is it possible to sign an additional agreement to the agreement at any Ingosstrakh office?

    This can usually only be done at one of the central offices. Before visiting the office, be sure to check if it serves mortgage insurance policies.

15. How and where can the invoice be paid?

    Online on our website, at any bank convenient for you, through the payment systems Western Union, Cyber ​​Money (Russian Post), at the Ingosstrakh cash desks located in the company's central offices.

16. If I made an early partial repayment, can I recalculate the value during the grace period or mid-year?

    It is possible to take into account the early repayment only on the date of the renewal or the next installment. Early repayments during the year will be accounted for and recalculated for the next insurance year. The next unpaid installments are subject to recalculation.

Refund limit

The maximum amount of insurance indemnity payments established in the insurance contract for the entire duration of the insurance, after which the insurance contract is terminated.

Insurance premium

Insurance fee to be paid by the policyholder or his representative.

Insurance risk

The anticipated event, in the event of the occurrence of which an insurance contract is concluded.

An insurance contract is understood as an agreement between the policyholder and the insurer, according to which the insurer for a fee specified in the contract ( insurance premium) upon the occurrence of an event provided for in the contract (insured event) undertakes to reimburse the person in whose favor the insurance contract was concluded, within the limits of the insured amount determined by the contract, the damage caused as a result of this event in the amount (limitation) and in the manner determined by the rules and / or the insurance contract. An insurance contract is a combination of an insurance policy and the text of the insurance rules on the basis of which it was concluded, as well as annexes to the insurance policy (if any).

Insurance rules

Insurance conditions defining the rights and obligations of the parties under the insurance contract, the insurance object, the list of insured events and the exceptions under which the insurer is released from liability. The text of the insurance rules is an integral part of the insurance contract.

The insured

A legal or capable individual who enters into an insurance contract for his own benefit or for the benefit of a third party (beneficiary) and pays insurance premiums under such an agreement. The conclusion of an insurance contract in favor of the policyholder is possible only if the policyholder has an interest based on the law, other legal act or contract in the preservation of the insured property. When concluding an insurance contract in favor of the beneficiary, the policyholder may not have a property interest.

Insured person

Individual whose life, health and ability to work are the object of insurance coverage in the mortgage insurance contract.

Beneficiary

The person appointed by the policyholder or entity, having an interest based on the law, other legal act or contract in the preservation of the insured property (property interest), in favor of which the insurance contract has been concluded.

Insurance term

The term of the agreement, as a rule, coincides with the term of the mortgage lending agreement.

Contract time

The time during which the insurer undertakes to make payments to the policyholder or beneficiary upon the occurrence of insured events specified in the contract.

Territory of insurance

The territory (country, region, route, etc.) defined in the insurance contract, within which the insured event occurred during the validity period of the insurance contract entails the insurer's obligations to pay insurance compensation. For property objects and civil liability the territory of insurance is the address of the location of the property; for insurance of civil liability for the actions of animals, the territory of insurance is the territory of the Russian Federation.

Incomplete proportional insurance

The condition of incomplete proportional insurance means that the insured amount specified in the contract is lower than the insured value of the property and the insurance indemnity is paid in the same proportion to the amount of damage in which the insured amount was related to the insured value.

Incomplete insurance

The condition of incomplete insurance means that the sum insured specified in the contract is lower than the insured value of the property. In this case, the payment of insurance compensation can be made both taking into account the ratio of the insured amount to the insured value (incomplete proportional insurance), and without taking into account this ratio (incomplete disproportionate insurance).

Full insurance

The condition of full insurance means that the insured amount specified in the contract is equal to the insured value of the property

Incomplete disproportionate

The condition of incomplete disproportionate insurance means that the insured amount specified in the contract is lower than the insured value of the property and the insurance indemnity is paid without taking into account the proportion in which the insured amount was related to the insured value.

A gradual decrease in the initial value of the property in the process of its use.

Compensation system

The compensation system means the procedure for accounting for wear and tear on replacement materials / parts in case of partial damage to property: the "New for the old" compensation system assumes that no wear is charged on replacement materials / parts for partial damage (payment is equal to the cost of new parts), the "Old for the old "assumes that for the replaced materials / parts in case of partial damage, depreciation is charged during the operation of the damaged property (payment is equal to the cost of new parts minus wear for the period of operation)

Insurable value

Actual, actual value of the property for insurance purposes. To determine the insured value, various methods of economic assessment are used, as a rule, when insuring suburban real estate, finishing and engineering equipment, the insured value is equal to replacement value(taking into account depreciation), and when insuring movable property, structural elements of apartments / townhouses - to the market (minus depreciation).

Apartment insurance service is provided on the basis of a contract. It is concluded after the presentation of a certain list of documents. Their list differs depending on the characteristics of the insurance object and the conditions of the chosen program. As a rule, the composition of the package is announced by a specialist after all the points have been agreed. The Insurance Polyus company proposes to study in more detail what documents you may need to insure an apartment in a given situation.

Standard package of documents

Insurance for an apartment owned and not encumbered by any obligations is carried out with the presentation of a minimum package of documents. Usually, in this case, it is enough to sign an agreement:

• application forms for object insurance;
• the policyholder's identity card (usually a passport);
• descriptions of the apartment and all the property in it;
• documents of title that confirm the property interest of the applicant (sales contracts, certificates of ownership, etc.);
• certificate confirming the value of the property.

Documents for insuring a mortgage apartment

In the event that a contract is concluded for the insurance of an apartment purchased on credit, an extended package of documentation is required from the client. It will include references of different categories.

From the borrower:

• application form for the provision of insurance services;
• a certified copy of your passport or other identity card;
• military ID (in the case of a military mortgage);
• other documents (on request).

From the seller:

• copies of passports of all sellers, certified by a notary;
• written consent of the spouse for the sale of housing (if the object was jointly owned);
• marriage certificate or divorce registration;
• certificates from drug addiction and neuropsychiatric dispensaries (for pensioners);
• permission to sell the object from the guardianship authorities (if there are minor children).

By object:

• sale and purchase agreement, donation, inheritance or other documents of title;
• certificate of state registration of property rights;
• copy of the technical passport of the object;
• extract from the Unified State Register of Legal Entities (for a period not exceeding 1 month);
• extract from the house register (form No. 9);
• financial personal accounts of public utilities;
• a copy of all pages of the independent appraisal report of the apartment.

Insurance registration procedure

To obtain insurance, you need to contact our specialist by phone or via an online request to clarify the list of documents required to conclude a contract. Then an expert assessment of the property you wish to insure (if you have chosen an individual product) will be carried out. Other papers must be attached to the report received from the appraiser (copies of passports, extracts, etc.). With the documents prepared for the insurance of the apartment, you must come to our office, where the following will be carried out:

• clarification of the details of the insurance program,
• calculation of the cost and payment for the service,
• drawing up and signing a contract.

Call our agent for a list of required certificates and other insurance information.

Probably, there is no such person who would not want to have his own comfortable home. But, unfortunately, not everyone has the opportunity to purchase it. Therefore, in our country, many young couples are considering the option of purchasing a home on credit. When registering an apartment on a mortgage, many banks force their clients to insure their living space against loss or damage. At the same time, not only real estate is insured, but also the health and life of the owner of the apartment. It is often almost impossible to refuse this, because otherwise the bank will simply refuse to provide a loan.

Here, most people have a question: "Is the insurance of a mortgage apartment obligatory or not?" The answer is unequivocal: required. The thing is that, according to Russian law, any real estate that is purchased with a mortgage must be insured. Therefore, every citizen who wants to arrange housing on a mortgage must have a detailed understanding of real estate insurance. Let's try to understand this issue in more detail.

Is it possible to refuse insurance services when applying for a mortgage?

Before you take out insurance, you need to understand what the insurance of a mortgage apartment generally gives. According to the current legislation, when registering a mortgage, only the collateralized property, that is, a house or apartment, can be insured. But many banks, in order to reduce their own risks, force their clients to purchase Additional services insurance, among which the most common are life and health insurance of the borrower, as well as the legal transparency of the purchase / sale transaction. In case of refusal to purchase additional insurance services, financial organizations, in most cases, increase the percentage. Thus, it is impossible to refuse insurance services.

What cases does the insurance cover?

Mortgage insurance protects the borrower from the following risks:

• from fire, explosion, flood and other emergencies, as a result of which the living space was damaged and it cannot be restored;
• damage caused to the apartment by third parties;
• a financial institution has launched a new mortgage lending program with more favorable terms.

If, when buying real estate in a mortgage, insurance was also issued, then in the event of any of the above cases, the insurance company pays the balance of the loan debt. If the borrower has refused to take out insurance, then he will be obliged to fulfill all the obligations stipulated by the loan agreement.

Mortgage insurance conditions

As stated by the current legislation, insurance of a mortgage apartment must be issued before concluding a loan agreement. This should be done by the borrower himself. He must decide on the insurance company whose services he will use, as well as conclude an insurance contract. Moreover, its validity period must coincide with the loan period.

Apartment insurance, the cost of which depends on several factors, can be paid once a year or quarterly.

The amount of insurance premiums is affected by:

• the period for which the insurance contract is concluded;
• the condition of the living space;
• the number of purchase / sale transactions carried out prior to this with real estate.

The insurance period can vary from 30 to 50 years, but it must coincide with the period of use of the borrowed funds.

Requirements for living space when taking out insurance

Insurance of an apartment in a mortgage is permissible only if the living area meets the following requirements:

• the building in which the apartment is located does not exceed 60 percent;
• the borrower has an opinion on the technical condition of the housing and an act on its assessment, drawn up by a professional independent expert;
• the legal purity of all transactions that were previously made with the property;
• availability of all the necessary documentation for the apartment.

If any of the above points is not met, then the insurance company will refuse to provide its services, and, therefore, it will be impossible to get a mortgage.

What documents are needed to insure residential real estate?

Every person who plans to acquire their own housing is interested in the question of what documents are needed to insure a mortgage apartment. You will need to prepare the following package of documents:

• documents for the living space to be insured;
• passport of a citizen of the Russian Federation;
• certificate of technical inspection of the apartment, indicating its current value;
• extract from the Unified State Register;
• a copy of the technical plan of the housing;
• original and copy of an extract from the house book.

For in addition to the above documents, you will need to prepare:

• a document certifying the borrower's right to own living space under previous transactions;
• a document confirming the fact of the purchase / sale transaction;
• apartments;
• a document confirming that the spouse does not object to the sale of housing;
• checks for payment of utilities.

If, in addition to real estate, the borrower insures his life and health, then a certificate of his health condition will be required.

What documents are required from the seller of the apartment?

Mortgage insurance assumes that the seller will also be required to provide a certain set of documents.

He will need the following:

• notarized copies of all pages of the passport;
• the consent of absolutely all family members to the sale of housing who have the right to own the apartment;
• if the current owner of the apartment is a pensioner, then copies of the PND and ND certificates will be required;
• if persons under the age of majority are registered in the apartment, then a copy of the sale permit from the guardian party will be required.

It is worth noting that each insurer puts forward its own requirements for the procedure for obtaining insurance, therefore the list of required documents may differ from the above.

Insurance service cost

It is impossible to say unequivocally how much the apartment insurance will cost. The cost depends on the insurance program, as well as the technical condition of the living space.

For example, with property insurance of a home, the cost of insurance can range from 0.3 to 1% of the value of the property. This also takes into account the condition of the apartment, the age of the house, as well as the presence of security systems.

The cost can range from 0.1 to 0.6 percent of the value of the property. If everything is in order with the legal cleanliness of housing, then you can count on the lowest percentage.

If, in addition to the living space, the borrower also wants to insure himself, then the services of the insurer will cost from 0.7 to 1.5%. At the same time, the amount of insurance premiums is affected by the health status of the insured and his type of activity.

The most economical option is a comprehensive policy that includes all the services discussed earlier. Its cost can vary from 1 to 1.5 percent of the cost of the apartment.

Today it is possible to find out exactly how much the mortgage apartment insurance will cost. The calculator implemented on the websites of most insurance companies will help you with this. With its help, you can determine the exact amount of insurance premiums.

The mortgage insurance process

So how do you insure your apartment? This question is asked by many people who are planning to get a mortgage.

The procedure for issuing an insurance policy occurs in the following sequence:

1. Find the UK offering the most favorable terms.
2. Study the insurance contract carefully. This will allow you to avoid various pitfalls and the presence of hidden services illegally pledged by the insurance company.
3. Get acquainted with the insured events that are covered by the policy, as well as the amount of monetary compensation and the timing of their payment.
4. Submit an application of the established form to the insurance company.
5. Pay the insurance premium of the established amount and within the terms agreed in the contract.

The insurance contract is drawn up in three copies: the first remains with the insurer, the second is taken by you, and the third is given to the bank.

Where to insure real estate when applying for a mortgage?

Nowadays, insurance of a mortgage apartment is one of the most common areas in which a large number of insurance companies are engaged, so there will be no special problems with finding an insurance company offering optimal conditions. But here it is important to understand that not all insurers work honestly, therefore, in order not to fall into the hands of fraudsters, it is recommended to use the services of only reliable and trusted companies. Next, we will consider the largest companies involved in mortgage insurance.

Sberbank: conditions of mortgage insurance

Sberbank is the largest financial institution in Russia with state support, therefore this company not only offers optimal insurance conditions, but is also one of the most reliable.

Sberbank is issued on the following conditions:

• insurance period - up to 30 years;
• insurance premiums - from 0.3 to 0.8%;
• insurance amount - not less than the remaining debt and not more than the cost of living space;

In Sberbank, it takes no more than five days to register, so you don't have to spend a lot of time and you can quickly buy an apartment on credit.

Real estate insurance at VTB

VTB is the second largest bank in Russia in terms of mortgage lending.

Insurance of a mortgage apartment in this financial institution carried out on the following conditions:

• insurance period - up to 30 years;
• insurance premiums - from 0.5 to 1%;
• insurance programs are complex.

The procedure for issuing an insurance policy at VTB takes no more than one week.

Registration of an insurance policy in Rosgosstrakh

Another indisputable market leader in the field of mortgage insurance is Rosgosstrakh. It offers its clients the following conditions:

• insurance period - up to 50 years;
• the amount of insurance premiums - from 0.12 to 0.65%;
• insurance amount - no more than the market value of the living space;
• insurance programs - housing and comprehensive.

Insurance services from Rosgosstrakh are much cheaper, since many more factors are taken into account when calculating the cost of the policy, including the location of the apartment or house.

What to do in the event of an insured event?

We talked about all the nuances associated with mortgage apartment insurance. Now it remains only to consider the procedure for the occurrence of an insured event. To receive monetary compensation, you must:

1. In the event of any force majeure, you must first report the incident to the competent authorities.
2. Notify the insurance company about the incident and report the cause of the incident.
3. Prepare a package of documents for the affected apartment.

If everything is done in accordance with the law and on time, then the obligation to pay off the debt falls on the insurance company, and the borrower receives monetary compensation. It is worth noting that the debt must be repaid by the insurer before the loan agreement expires. Therefore, to avoid any problems, always read the terms of the agreement.

When buying real estate, most of us go to the bank for a loan and basically everyone is interested in interest rates, bank commissions. Often, people who intend to take out a loan overlook another item of expenses, without which the bank does not issue a loan - this is insurance.

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When registering a mortgage, the bank becomes a co-owner of our property and, therefore, is interested in protecting its property, therefore, before repayment of the loan, you are required to insure the collateralized property every year and this will be spelled out in the mortgage agreement.

For banks, this is the only way to ensure the security of collateral for the client and minimize the risks associated with loss of income.

Cost, what does it depend on?

For the borrower, these costs are not indifferent.

The insured can choose the insurance company himself, but you need to agree with the bank, because often Insurance companies are accredited by a financial institution, and this can also be spelled out in small letters in the contract, and the bank can offer you a list of insurance companies that it trusts.

The cost of insurance is calculated based on the annual interest rate and can be paid in two ways:

1. By paying the full amount in one payment once a year (until the mortgage is paid off).
2. Break down into monthly, quarterly installments in accordance with the schedule that will be in the insurance contract, but be careful, sometimes this leads to an increase in the insurance premium.

The cost of the insurance contract is sometimes paid by banks themselves by increasing the amount of your loan.

Some banks allow the bank to insure for the amount of the debt, respectively, as the mortgage is repaid, the value of your property and the insurance premium will decrease. But you must understand that if the value is indicated as less than the actual value, then the payment of compensation will be calculated proportionally.

But without fail, everything must be coordinated with the bank, since contracts are usually drawn up three-party and the bank will not sign if they are not satisfied with something. In addition, the insurance company is obliged to inform the bank about any delays in payment on schedule or non-payment of the premium by the borrower, which may lead to penalties from the bank.

Also, you may be asked to issue additional insurance... For example, for loans that exceed 80% of the value of the property or if the applicant is an elderly person, the bank may require the conclusion of a life insurance policy to protect itself in the event of a client's disability or death.

Not all banks, but many require title insurance in the event of a dispute over a property sale. According to the law, you can dispute within three years after the purchase, respectively, and you need to insure during this time.

How to calculate the amount of insurance?

To calculate the insurance premium, you need the full actual value of the collateral, which is determined by the appraisers, and must be indicated in the contract, multiply by the insurance rate (usually it is approximately the same in all insurance companies that the bank offers you).

Insurance calculator:

Insurance premium = value of collateral * insurance rate.

What banks usually require to insure:

• building structure;
• decoration of the room (wall covering).

The insurance contract provides for compensation for damage in the event of:

• fire;
• earthquakes;
• floods;
• storms;
• shower;
• hail;
• tornado;
• falling of manned flying objects;
• water damage;
• collision of vehicles.

How to get insurance?

To take out insurance for the collateralized property, you need:

• choose an insurance company;
• get acquainted with the insurance contract, find out the terms and conditions of insurance compensation;
• provide documents;
• to write an application;
• pay the insurance premium on time and in the amount specified in the insurance contract.

The contract is made in triplicate: the first remains with the insurance company, the second for you, the third for the bank.

As for life insurance, the calculation takes into account what risks you need to insure, only from death or even from disability, how old you are, who you work for (the more dangerous the job, the more expensive the insurance). If you take out all three types of insurance together, the cost will be cheaper than each separately, in total, up to 1.5% of the loan amount.

Insured events

In the event of damage, it is necessary:

1. Report to the appropriate authorities - in the event of a fire, to the fire authorities, in an explosion or accident, to the emergency services, in case of unlawful actions of third parties, to the police.
2. Inform the insurer or his representative in writing within the terms specified in the contract, indicating the reasons for the damage.
3. Provide documents for the damaged object.

It is important to know that the payment for damage under the insurance contract will be transferred to the bank before the mortgage is repaid.

Nuances

Refusal to pay insurance compensation occurs in the following cases:

• the insured committed a deliberate crime;
• notifying the insurer in violation of the terms specified in the contract, without good reason;
• provision of deliberately false information by the insured about the occurrence of the insured event;
• misuse of property;
• if the policyholder has not paid the insurance premium according to the contract.

If the insurance company refuses to pay for the insured event, in any case, you can go to court and defend your rights.

Can I refuse?

Insurance is not compulsory for the issuance of a loan, but in fact it is not necessary to insurance contract it is not easy, especially since banks are interested in selling policies, as they receive a commission, which is a very good percentage of the contract value. Most likely, without insurance, the bank will offer a higher interest rate.

But if you are not in a hurry to get a loan, you can fight with the bank. If you have already received a loan and now you have no desire to insure, then read the mortgage agreement, and if it says that you are obliged to insure and you signed this agreement, that is, you agreed, then alas.

Reduced costs

It is usually difficult to change the rate of title insurance, since it is agreed upon during the accreditation of the insurance company, the only way out is to insure with one package, it is cheaper.

If you need insurance formally, only for the bank, and not to protect your home, then the cost can be reduced by:

1. Choosing to insure only the building structure (you insure only walls without finishing).
2. Deductible (usually the bank requires from 0% to 2% of the insured amount, which is deducted from the amount of insurance compensation, the more, the cheaper).
3. Insure your property only for the amount of the loan debt.
4. Pay the full amount in one installment once a year; installments can be more expensive.

It is possible to reduce the insurance premium for accident insurance only by reducing the number of risks (for example, insuring only against death).

What documents are required?

For property insurance:

• document for real estate, which will be the object of insurance;
• an appraisal report for the property being purchased;
• the passport.

For title insurance:

• a document confirming the ownership of real estate under previous transactions;
• documents of purchase and sale or donation, certificate of inheritance;
• certificate of state registration, if it is a private house - an extract from the house book;
• if the seller is married, the consent of the spouse or spouse;
• if there are minors, permission from the board of trustees is required;
• receipts for utility bills, they will help determine the number of registered people, and at the same time make sure that the seller has no rent debt;
• the passport;
• document confirming the cost.

For accident insurance (from death and disability of group 1,2):

• the passport;
• some insurance companies require a medical examination, you can go to another insurance that does not.

Don't be intimidated by such a long list, because all these documents will be on hand at the time of the transaction. And before you refuse insurance, think, because by insuring, you protect yourself and your family from unforeseen circumstances, in the event of death or invalidation of the transaction, as well as from all kinds of natural disasters, the insurance company will pay the mortgage instead of you.

The cost of residential real estate on the territory of the Russian Federation is currently quite significant, therefore it will be quite problematic to acquire this kind of property for its own funds. That is why all banks are one of mandatory conditions a loan of the type in question made the conclusion of an insurance contract. To conclude an insurance agreement, certain documents are required.

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Basic moments

Usually it includes an insurance clause by default. Some banks offer to conclude an additional agreement.

If the borrower wants to draw up an additional contract, he will need to contact one of the insurance companies that offer this kind of services.

At the moment, the following ICs are the most popular and reliable:

• "RESO Guarantee";
• Ingosstrakh;
• VTB Insurance;
• "Renaissance";
• "VSK".

To conclude an agreement, you will need to contact the office of the company. At the same time, some IC offer their clients to use a special personal account.

Through it it will be possible to issue a policy, submit a preliminary application and receive all the necessary information. That is why it is worth registering remotely.

If, for some reason, difficulties arise with the selection of the optimal tariff plan for mortgage insurance, you will need to contact a broker. He will select the optimal tariff plan.

This way, you can avoid various difficulties associated with the design. You can find step-by-step instructions on the Internet.

Documents for insurance of an apartment on a mortgage are provided depending on the chosen program.

It should be remembered that in some cases the insurance company may require the provision of any documents from the bank that issued a loan to a specific individual.

To obtain such documents, you must visit the office. At the same time, it will be possible to issue some documents remotely via the Internet.

Registration procedure

The procedure for drawing up an insurance contract for mortgage housing is standard. That is why you can study it in advance. At the same time, there are many features associated with the document registration procedure.

The most significant issues that you should familiarize yourself with before contacting the insurance company include the following:

1. The necessary conditions.
2. Types of insurance.
3. Required documents.
4. The price of the issue.

The necessary conditions

Today, each insurance company compulsorily forms special insurance rules.

This document contains the main points that are related to the conclusion of the agreement, as well as the subsequent performance of obligations.

Insurance rules for almost all companies are identical. The differences are minor.

It is in them that the basic conditions are reflected, the fulfillment of which is mandatory for the conclusion of an appropriate agreement. First of all, housing must meet certain requirements.

Today the following property purchased with a mortgage can be insured:

The list of requirements for housing is completely similar to the requirements of the bank.

List of conditions:

Indicators	Description
Be sure to have a cement or brick foundation	—
All overlaps between floors or under the roof (depending on the number of storeys)	must be made of reinforced concrete or metal
There is no emergency status	—
Wear of various designs	utilities is no more than 70%
Houses	was completed no earlier than 1957
If the house is five-storey and is more than 30 years old	the insurance company, on the basis of this, may refuse to provide services

A prerequisite is an examination by the specialists of the insurance company before concluding the contract. In this way, companies want to reduce the likelihood of contractual payments being required.

As often, the owners of emergency houses are trying to get funds for moving to other housing in this way.

The mortgage borrower himself must also meet certain criteria:

• age - over 18 years;
• full legal capacity;
• availability for housing;
• is the responsible borrower.

When concluding an insurance agreement, you will need to submit a mortgage agreement along with the rest of the documents. This condition is strictly required.

Usually, such a document is drawn up in duplicate. But at the same time, the borrower has the right to demand from his lender to make another copy.

It must necessarily contain the inscription "copy is correct" with the appropriate seal.

Types of insurance

Special attention will need to be paid to the types of insurance that will be included directly in the insurance policy. It should be remembered that this kind of agreement has a large number of different kinds of nuances.

To date, the insurance company "RESO" offers to insure against the following emergency situations:

If possible, it is worth purchasing a policy comprehensive insurance... So it will be possible to minimize all kinds of costs in the event of various emergency situations, or even avoid them altogether.

First of all, attention should be paid to title insurance - loss of property rights.

Often this happens if there were minors in the apartment before. In such a case, the borrower finds himself in an extremely difficult position.

No less important are the types of insurance that imply infliction of harm as a result of the action of the forces of nature and other circumstances. This is a fire, a flood.

In such cases, the property can be destroyed completely. In most cases, similar insurance case along with life and health insurance is already included in the standard loan agreement.

Therefore, it usually makes no sense to purchase such additional services from a third-party insurance company.

Required documents

It is important to remember that in order to conclude an insurance contract, it will be necessary to submit a list of mandatory documents.

It includes the following:

Indicators	Description
the borrower himself
Loan agreement	—
Documents confirming the ownership of housing	contract of sale; ownership transfer agreement; owned; judicial act
Technical floor plan	from BTI
	extracts from
Apartment appraisal report	—
Permission of the guardianship authorities for the sale of housing	in the area of ​​which a minor previously lived or is living
Copy of the passport of the former owner of the apartment	—
Not registration certificates	in a neuropsychiatric dispensary, as well as a narcological

The above list is basic. At the same time, different insurance companies have different requirements for the list of mandatory documents. That is why it will be necessary to familiarize yourself with this list in advance.

All papers should be prepared in advance. After submitting all the documents, a personal offer is formed.

Such an extensive list of securities is required to assess the magnitude of risk in a particular case, taking into account all factors.

The price of the issue

A separate and most important point is precisely the cost of the type of service in question.

The following factors have the most significant influence on the price of an insurance policy:

In each case, the cost of the policy is calculated individually. There is simply no universal formula for performing such calculations.

If there is a need to find out the preliminary cost of the policy, then you should use a special electronic calculator.

Today, almost all insurance companies, without exception, post such applications on their official websites.

Video: Property Mortgage Insurance

Special nuances

It is important to remember about a large number of different nuances directly related to insurance. First of all, this concerns exactly the fulfillment of its obligations by the insurance company.

The most important are:

Before contacting any particular company for insurance, you should read the reviews about it. In this way, a large number of various problems and difficulties can be avoided.

The legislative framework

At the moment, the very issue of mortgage insurance is regulated at the legislative level.

The fundamental regulatory document is the Federal Law: