How much will cost the insurance of real estate

06.12.2010 16:42
How much will cost the insurance of real estate
Exotic Ukraine's title insurance has already managed to play a cruel joke with the insurers during the crisis - many of them victims of "titular" scams. So now the insurance companies sell "title" with great caution.

And some, to best protect yourself, try to "score" in the contract as much as possible limitations. How to easily buy "title" and that this should pay particular attention, found "business".

Price depends on the history of

Title insurance began to develop in Ukraine, mainly due to the banks. "That's banking institutions are required to insure under the mortgage collateral in case of loss of ownership of it. And here voluntarily, "the title of" buying units "- the director of insurance company" Nasta "Sergei Parfenyuk.

During the boom of mortgage lending most of the contracts of title insurance was with physical persons. "In our company, the share of such contracts in excess of 85%," - says an expert on real estate insurance Oranta Katerina Shmurova. And the company is willing sell a policy to an individual than a legal - the risk is less.

A client who wants to buy a "cover" defense, we must understand that it is not for sale to owners of primary residence and automobile. In the first case because the "primary" does not make sense to protect against encroachment of former owners, for lack thereof.

In the second, because in Ukraine automobile "title" is not stuck. "In our practice, there was no case of title insurance vehicles. The reason is simple - purchase and sale of the car does not carry the risks of such a level as buying and selling residential property, so it makes no sense to spend money on "title" - explains Shmurova.

But buyers of "secondary housing (houses, apartments and even sites)" title "- at the time. "For such a buyer does not know the history of housing: who was previously the owner what the problem, conflict and disagreements were on the housing of the previous owners", - said Parfenyuk.

According to the chief of the underwriting company "INGO Ukraine" Alexander Mudrak, the cost of such a policy depends on several factors: the type and characteristics of the property, the conditions for acquiring rights to ownership of housing and its privatization, the number of previous owners of the property and the frequency of their shifts, legal purity of documents list of risks, the size of the franchise.

Therefore, a large fork fare - from 0,3 to 5% of sum insured. The insurer must conduct examination of the history of real estate. And if you identify questionable factors, it may not only seriously increase the rate, but did refuse to insure the "title".

Because the risks in the title insurance is very high, all companies will pay careful attention to the issue of screening instruments. "The main, specific to this type of insurance documents are: a document certifying the ownership of real estate, Help BTI, property evaluation. Also needed a loan agreement and pledge agreement (if the property was purchased on credit. - "CASE") ", - said Sergei Parfenyuk.

But to get the insurance payment is enough to show the main insurer of document - a court decision confirming the result that the insured lost his title to the property.

It should be noted that if the insured event occurs, then the customer can expect compensation only in the sum insured specified in the contract of insurance. "Insurance amount can be set on the basis of such factors: the market value at the time of conclusion of insurance contract, the price specified in the contract of sale, the property value assessment BTI, the amount of credit secured by real estate" - says the chief methodologist of "Universal" Ludmila Chernyakhovskaya.

By law, the insured amount can not exceed the actual value of the property. That is, if the market price of housing at the time of the insured event was lower than in the contract - will pay market price. But if the above - the contract. "But the sum insured can be increased. To this end, the insured must arrange ADDITIONAL AGREEMENT "- adds Chernyakhovskaya.

Exceptions abound

Buying a "title" often does not mean that the insurer must pay compensation if the court decision lifting the ownership rights of the insured. Therefore, the client must pay attention to in the contract then in any case he did not pay insurance.

The exceptions may include where the housing, which alienated not previously been registered as required by law, in state agencies registration.

Besides, is not an insurance case and the confiscation of the property insured banks (if the property is in the mortgage and credit is not in service) and much more. "Such a large number of exceptions to the insurance companies are forced to place with the sole purpose - to prevent fraud" - explains Parfenyuk. So, according to experts, most problems arise from our insurers during the crisis.

Fraud scheme was simple: to bring out from under the mortgage bank's real estate and not return him credit, legal entity-crooks "lost" ownership of the mortgage, insured by "title." As a result, return the banks to beneficiaries for their money had to insurers. Therefore, insurers are now selling "title" with great caution.

Exceptions that are most often found in contracts of title insurance:
- Intentional or criminal acts of the insured to the insured event, including obtaining the full insured damages from the perpetrator of their infliction;
- Committing the insured transaction, the unlawfulness of which the insured knew or should have known;
- The voluntary renunciation of ownership or voluntary transfer of the insured property rights to third parties;
- Misappropriation of property insured;
- Repurchase of the insured property (including land) in connection with public necessity;
-Foreclosure on the insured property, which is the subject of a pledge, the failure of its insured credit obligations;
-Confiscation of property insured by government authorities;
Untimely post-insurer about the accident.
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