Why is it profitable to insure real estate?
- Insurance makes it possible to compensate for the consequences of an accident.During the pandemic, people spent more time at home and many switched to telecommuting. Because of this, the load on utility networks has increased. Violations of the rules of operation of plumbing, electrical and gas equipment are not uncommon, leading to accidents – floods, fires, explosions of household gas. There can be considerable damage to real estate. Insurance will allow you to cover it.
- Home insurance provides psychological peace of mind. It is especially needed when the property is rented or vacant, for example, when the owners leave for an extended period of time.
- It can be an inexpensive policy.Insurance companies offer a variety of home insurance options. The price of the policy will depend on the technical condition and wear and tear of the property, the risks, and the term of the insurance. The price will be optimal if the insurance includes only the most likely insured events. In addition, you can pay the insurance in installments or on credit – almost all major companies offer such options for purchasing a policy.
In what cases can the insurance not be paid?
These situations are listed in the insurance contract, and each company has its own situations. Generally, there are several reasons why you may be rejected.
Your situation is not considered an insured event: You insured your house against a natural disaster and a lamppost fell on it.
It was your fault: You left the iron on and went to work, and the apartment caught fire.
You violated the terms of your contract: for example, you didn’t pay your premiums on time or you were late in contacting your insurance company.
If the insurance company refuses to pay you compensation for no apparent reason, you can file a complaint
What you can insure your home against?
neighbors flooded;
A drainpipe or sewer pipe has burst;
the house was robbed;
fire
So in the first place you should insure your house or apartment against these risks. But this, of course, is not a complete list. Insurance companies offer several more options:natural disasters;
gas explosion;
structural defects;
man-made accidents;
acts of animals;
falling of aircraft and their parts;
lightning strike.
It is also possible to insure your civil liability. This insurance helps you pay for damages if you cause damage to someone else’s property, for example, if you flood your neighbors.
The insurance company may also cover the costs of temporary accommodation and storage of belongings, cleaning of the territory, execution and payment of documents and certificates that are necessary to restore the home.
Each insurer offers its own list of risks or packages that include everything at once.
