Real Estate Property Insurance

Currently in our country there is no system of compulsory insurance of real estate in case of transaction of purchase/sale or donation. But you always will be able to purchase such policy on a voluntary basis. This type of insurance entered into practice of European countries long time ago. And this field is developing steadily. People don’t want to think what may happen. Nevertheless, the insurance strongly minimizes certain fears and solves many controversial problems among people in case of spoil or destruction of valuable property.

Nevertheless you should resort to property insurance in case of credit buying as it will be one of provision conditions to your loans.

Against what it is possible to insure real estate? Actually against any possible incidents: fire, robbery, effect of water, etc. There is also an insurance model “against everything”.

The insurance program “against everything” is the most perspective and interesting because it is never possible to foresee which of risks will serve as a cause of destruction or spoil of your real estate.

Each of risk types has own features in case of insurance. Also in certain cases the insurance company can write out the list of conditions under which the conclusion of the agreement will be possible. Generally these conditions are directed on minimization of probability what may happen. For example, insuring the apartment against robbery located on the first floor do not be surprised that you will be asked to install grating on windows to or to replace un reliable door. These measures will minimize probability of penetration.

It is impossible to insure real estate in the district where the landslide is probable or weather services gave information on probability of fires or floods.

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