Real Estate Insurance Types

When people buy any type of real estate they apply experience of the western countries resorting to system of insurance.

The most important point is a final choice of the company and determination of risks actual for your case. However we will raise this subject a bit later, and now let’s talk about what types of insurance of real estate exist today.

The first type is property insurance or in other words the insurance against destruction or damage directly of your property physical plant.

The second type is title insurance or insurance of loss risk of the property right for purchased real estate. Such type of the insurance is especially vital when purchasing housing in the secondary market when there is a probability of unexpected emergence, for example not considered heirs or people having the original rights for the property right of purchased real estate about which you have not known at the time of contract conclusion.

The third existing type is liability insurance of the owner of the real estate to the third parties. Most often those are the neighbors who appeared, for example the victims of the crane which has been broken in your apartment and also any other cases connected with operation of your real estate.

The fourth type is mortgage insurance. Such type of the insurance includes all range of existing types of insurance for real estate plus life and health insurance of the borrower.

Currently the most popular among insurers is property insurance. Title insurance is less popular. Liability insurance is quite exceptional case.

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