Specifics Of Foreign Real Estate Insurance

The real estate insurance abroad is not a splendor but regulation for people living in places where they got used to shift unforeseen moments of life on the insurance company. This industry so kept within mentality of people in developed countries that nobody anymore asks a question whether it is necessary to insure. Though anybody won’t force you to such actions unless if you decide to take a mortgage. In this case the insurance of dwelling bought on credit will be as a condition of money granting by bank.

It is worth noticing that insurance companies in the countries of Europe and the USA strongly differ from our companies on guarantees of payments. In case of loss occurrence you don’t need to prove through court your right to reimbursement from insurance company. Any European company won’t “play tricks” with such things, you will receive payment in time and in full measure according to the agreement. It is connected with tough regulation of insurance companies’ activities by the state.

Therefore, buying a real estate in any European country, the USA or Canada the most reliable method to secure the real estate is to insure it at foreign insurance company.

Execution of insurance policy abroad does not take much time. So, very widespread fact is the conclusion of the agreement on the Internet and payment by the card, using the Internet system of payments.

But to terminate the agreement is much more difficult. It will be necessary to notify the insurer some weeks before about it. It is worth paying attention that the insurance contract will be automatically prolonged until you don’t send the written notice to the insurer. If do not do it in time you will be compelled to pay a penalty in the amount of annual insurance.

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