What To Consider When Insuring Real Estate

Conclusion of the insurance contract is very important procedure because having missed one or two important points in the agreement you may nullify the benefit from this entity.

Therefore, attentive studying of the agreement offered for signing by insurance company is very important point. Sometimes consultation at the specialist to whom you trust will be a good idea.

When choosing the insurance company it is worth to carry out a little survey among acquaintances which have already faced to its activities, to check on the Internet the responses about it. But do not trust too much to the responses as the companies often resort to such tricks as made to order writing of positive responses in its address. But there are also such concepts as rating of insurance company made by specialized licensed agencies.

Then compare the offered companies. Generally our insurance companies copy insurance programs from the European colleagues. These programs are copied practically at all companies. And, nevertheless there is some difference. Generally in the cost of payments by insurance which is calculated by each company in its own way.

In case of mortgage insurance you won’t be given a wide choice of insurance companies in which you will be able to receive such insurance. Most likely it will be one or two companies with not the cheapest option of insurance.

Annual payment cost will constitute from 0,8% up to 1,2% of the of your credit multiplied by 10%.

Sometimes banks nevertheless make concessions and after a while allow the borrowers to change the insurance company.

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