Real Estate Insurance Specifics In Ukraine

Real Estate Insurance in Ukraine is under development now. Real estate insurance is not too popular among the population. It is connected partly with mistrust to local insurers and frequent lack of sufficient level of the income allowing allocating funds on various type of insurance from household budget. Therefore, we will consider commercial real estate insurance which owners insure almost always.

At this stage it is possible to mark out two main trends which are subjected to insurance. This is insurance at stage of construction and directly during operation.

The main insured points are related to insurance of real estate against such risks as fire, various accidents of municipal nature, natural disasters, etc.

Risk, the second by popularity is the delay of commissioning and loss of profit.

The third is the risk of construction nature. Installation errors, threat of accidental destruction or damage of object under construction and others

The fourth risk is liability insurance to the third parties in the course of construction or commissioning of the object which is under construction.

Owners of such objects never approach to the process superficially. Because of frequent refusals and violations of payments by insurance companies agreements are obligatory checked by personal lawyers of the companies for availability of points which can resort to refusal in payment and other “reefs”.

Besides points which the creditor or investor requires for insurance some others are usually included. Such as: errors of designing, utilizations of garbage, etc.

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