Home insurance: types, conditions, rates

Life is full of risks and dangers. Can a person avoid them? Hardly.

The only thing you can do is to insure yourself against the consequences of negative events. In particular, financially protect your home.

We will talk about the Ukrainian system of home insurance, types of real estate insurance, the price of an insurance policy for housing. In simple words about the complex, briefly about the main ...

After all, the culture of home insurance must be developed - protected in order to have it.

Residential property insurance in Ukraine

The insurance policy in Ukraine as a whole has not yet reached a high level of development. Among the main reasons for this situation is the low economic development of the country. Therefore, not everyone is financially able to purchase an insurance policy for housing. However, Ukrainians, no matter how strange it may sound, are more likely to insure their real estate than their lives and health.

In general, the development of the real estate insurance system in Ukraine is too inferior to the world standards of home insurance. Let's say that the culture of insurance is very developed in the USA. In this country, everyone insures - in the full sense of the word.

Property insurance in America is an indispensable procedure before moving in or renting a home. In Ukraine, an insurance policy for an apartment or a house is bought much less frequently.

Types of home insurance

In our country, you can get the three most common types of home insurance:

- apartment insurance - financial protection of premises in a high-rise building;

- residential house insurance - investment in compensation for possible losses in private houses;

- civil liability insurance - a cash injection to compensate for harm to neighbors (if, say, water leaked from your apartment to neighbors, under the terms of the housing insurance contract, the insurance company will pay you money to cover damage caused to neighbors' housing).

Apartment flood and fire insurance

According to statistics, most residential real estate insurance contracts in our country are concluded for apartments. Almost all such insurance agreements are supported by civil liability insurance. And this is logical.

Indeed, in the private residential sector, it is impossible to harm neighbors due to the fact that a hose to a washing machine burst in your house. But in high-rise buildings, such and other situations very often cause harm to residents of the lower floors.

Most often, Ukrainians insure their apartments against the effects of two elements - water and fire. Apartment flood insurance in terms of importance for residents of high-rise buildings somewhat dominates apartment fire insurance.

Buyers of apartment insurance policies respond less to other potential threats to housing, although apartment insurance against water leakage and fire is included in the general list of risks.

Residential home insurance

Private houses are mainly insured against fire and natural phenomena: from tearing off roofs during a hurricane, lightning entering the house, flooding basements, cellars.

Owners of real estate choose civil liability insurance when, for example, the house is divided into ownership and use.

What property can be insured against

In Ukraine, residential property can be insured against the following risks:

- fire and damage caused by extinguishing;

- natural disasters (earthquakes, hail, storms);

- malfunctions in the sewerage or heating system;

- illegal actions of other persons (robbery, burglary, arson);

- mechanical damage (for example, from falling on a tree, crane, any structure);

- payment of material damage to neighbors affected by what happened in your home through no fault of yours.

Conditions for real estate insurance

Each insurance company develops its own rules for working with clients. To conclude a home insurance agreement, the owner of the apartment must:

Choose an insurance company;

get acquainted with its offers and give preference to the one that suits you;

provide the insurance company with the necessary documents to draw up an insurance contract for housing;

sign an agreement with the insurance company;

pay immediately or agree on the terms of payment of insurance premiums.

How much does home insurance cost

The price of a housing insurance policy is based on the value of an apartment or private house. An apartment insurance contract contains three components:

- constructive insurance (we are talking about a housing box, without internal work);

- insurance of interior decoration (doors, windows, walls);

- insurance of property located inside the housing (furniture, household appliances, electronics).

The tariff for insurance of an apartment or house is also formed taking into account the solvency of the client.

Among the most common insurance companies in our country, the average calculation of the cost of an insurance policy for housing is as follows: up to 0.25% of the market value of housing, add 0.30% for insurance of internal work and add 0.30% for property insurance inside the premises.

For example, if the cost of an apartment in the primary market is UAH 1 million, housing repairs, furniture and household appliances - UAH 300 thousand each, then in general, home insurance will cost UAH 3 thousand per year.

If the market price for apartments is lower, and repairs and furniture in housing are cheaper, an insurance policy for residential real estate can cost significantly less - an average of 400 UAH. in year. The larger the policy amount, the higher the compensation payment.

A participant in a transaction can pay insurance premiums as follows: the entire annual amount at once; divide the total cost of the policy into 12 parts and pay monthly; or quarterly - 4 times a year.

So, the home insurance system in Ukraine, despite the fact that it is well-designed and versatile, is not in full demand. Ukrainians have not yet massively mastered the insurance culture, in particular, residential real estate.

Insurance of apartments against fire and flooding is the main part of the concluded insurance transactions in the field of real estate.

Private home insurance mainly covers the risks caused by natural disasters.

To issue an insurance policy for residential real estate, you need to choose an organization that deals with this and sign an appropriate contract with it.

Tariffs for home insurance in Ukraine are different - on average from 400 to 3000 UAH. annually.