Useful information about the insurance of property (apartments) in new buildings. According to statistics, only five percent of Russians are solved to insure your property, please contact professional help. And in vain – it is only the insurance companies are able to protect customers against possible risks in real estate, both the secondary and primary housing market. Buying an apartment in the building, design by contract equity, as experience shows, is a risky business. Defrauded real estate investors often find themselves with no money and an apartment.
There are two types of insurance associated with the new buildings. If you have invested in the share of construction, you are an investor and have the right to make a deal on insurance financial risk. After signing the contract with the insurance company in case of postponement of construction or bankruptcy of developers, you can get compensation.
Insured event occurs, if the house has been completed, but the apartment is not formalized in the property at the time, and company-builder does not return at the request of the investment. Equity holders are also entitled to claim compensation in case of delay in the adoption of the State Housing Commission. Typically, the cost of insurance investments does not exceed 4% of the amount paid for the accommodation. But it should be borne in mind that when the insured event and the receipt of the payment, equity holders lose the right to housing in the new building and transfers it to the company, the insurer.
The second type of insurance – title insurance, or protection of property rights to housing. As well as the insurance of financial risks, title insurance may be voluntary, but if you take a loan, the banks are obliged to enter into a contract of insurance disability, credit life and title. But, at the same time, banks do not always resemble the insurance of financial risks. Getting a loan for the purchase of property in a newly built house, commits to insure the risks of shared construction, whereas when buying an apartment in the secondary market, insurance lie down ownership.
Many insurance companies are not only unwilling to lower tariffs, but also offer such contracts, which are at the discretion of the insurer to refuse to allow compensation. The quality of service delivery affect the lack of a competitive environment in the insurance segment of the real estate, information about the closeness of the new construction project, and many other factors that influence the degree of risk. Reduce the risks of real estate investors could be measures such as registration of the equity of the contract, as well as changes in legislation and personal foresight holders.
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