How to insure a vacation home?

05.12.2011 00:00
Articles about real estate | How to insure a vacation home? Today, insurance policies have no more than a quarter of all owners of suburban property. Others do not want to spend extra time or live by the principle "as long as thunder breaks out." And few of these people think that saving on insurance policy, in case of fire (robbery, Gulf, robbery), they will have to lay out tens of thousands to make up for material losses.

Insurance included

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Insurance policy includes a standard package of risks: the case of natural disaster, fire (for whatever reason), water damage, collision of the vehicle, falling trees or airplanes, as well as illegal actions of third parties, or, in other words, theft, robbery, and robbery. The most common insurance claims - wrongful acts of third parties, and natural disasters. But the fires, which insurers usually fear most, is given in third place.

In addition to the house, the objects of insurance may be room, garage and outbuildings on the site, fences, and also the land and construction in progress (with walls, roof, closed windows and doors). The insurance cover extends to design elements, finishes and equipment. Many companies allow you to insure household goods, tools, technical equipment and landscaping works: fountains, architectural elements, sculptures, pools, benches, arbors, water parks, aquariums, winter gardens.

It must be borne in mind that all these objects belong to different insurance categories, so are insured separately. In other words, if the insured only cottage on all proposed types of risk, and during a robbery of the building itself was not damaged, the money from the insurance companies do not wait. You should always specify what is included in an insurance policy.

In recent years increasingly popular comprehensive insurance, aimed at providing the widest range of services to clients. For example, an insurance product may include not only structural elements of insurance, utilities and housing decoration, and personal property insurance, general liability for damage to life, health or property of third parties.

Insurance mechanism is simple enough. The owner refers to the insurance company and get advice. If it satisfied the conditions in place and leaves the agent inspects the object, and then issued the policy.

The terms value of the policy

The classic version of insurance - with a tour - more cost and time-consuming. However, it is worth it, because the defense will be the fullest.

The range of rates for insurance suburban real estate ranging from 0.35% to 1.1% of the insured object. But how does real estate appraisal? At the conclusion of the contract it is important to determine the market value of housing. The client, based on a sales contract, design estimates or invoices for building materials, can independently declare the property value. Insurer, of course, take this information into account, but, nevertheless, double-check the value of the object in its internal regulations and procedures. If the owner is unable to estimate the value of the property, the insurance company to offer his expertise. It can hold the company's experts (usually free), or independent licensed appraisers (surcharge).

A finite amount of the insurance policy is influenced by many factors. First of all, analyze the material at home. Thus, the wooden buildings are at a higher rate than brick buildings because the former are much more likely to suffer from the fires. Insurers are very carefully assess the state of wooden buildings. This home has to comply with fire safety: the wiring should be double insulation shall not be permitted compound of aluminum and copper wires, prohibits the use of fireplaces or stoves that are cracked or have broken doors, one must have insulation to protect against fire, floor, walls and partitions. By the way, no matter from what material the house, if it contains sources of open flame (stove, fireplace), the base rate will be increased.

On examination, also explores the age of the house: if the object 25 years or more, the tariff rate will rise by 0.1-0.2%.

Generally, older homes, as well as new buildings - not the most favorite objects of insurers. The new house poorly understood in operation, and no one knows that it can happen. However, the old house, too, is fraught with many possible problems: old wiring, roof collapse, subsidence of the basement and so on, so the insurance cost of such facilities to the client of the insurance company more. And sometimes dilapidated buildings and not accepted for insurance.

The insurer also ask about the regime stay in the house. If the owner is in it from time to time, the price of the policy will be higher if the house is used year-round - the insurance is cheaper. If a country house not live or rent housing by third parties, such circumstances shall be determined by the insurer as factors that increase risk. In such cases, a higher tariff because nobody in the absence of the owners have not been carefully monitoring the safety of property, the state of design and engineering systems, does not provide a current (and thus more capital) repair.

Also analyzed the location of a house: Flood Zone, a large distance from the fire department can increase the bet. Remote holiday village is actually open for rampant crime, and in case of fire, the chances of total destruction of buildings. Failure of the location (within the flood on the slopes of the ravine, next to pits) increases the cost of insurance. Moreover, some insurers do not take under the protection of objects in the zone of possible disasters.

Discount can expect a client who owns an object worth more than $ 100-150 thousand for those insured price of the policy can be reduced by 10-20%. However, the low cost of the insured object can also bring their own rewards.

Value of the policy may be reduced for regular customers and those who did not apply for an insurance payment in the previous year. Discounts are also based on agreements with other insurance companies. You must also keep in mind that a complex one property insurance costs about 20% cheaper compared to the all-risk insurance separately. Some insurance companies offer discounts to pensioners, the blockade, the disabled, war veterans, etc.
In recent years increasingly popular comprehensive insurance, aimed at providing the widest range of services to clients.

Many insurance companies offer special discounts for a number of strict adherence to fire regulations, the presence of alarms, metal doors, bars on the windows or other additional security measures. In principle, the purchase of an insurance policy does not preclude the need to purchase the alarm. Both systems complement each other. After all, if a home burglar penetrate or start a fire, burglar alarms work. Siren will scare away the thief, and in case of fire - wake up the neighbors living next door. However, the service response time needed to go to the place - at least, it's 20 minutes. During this time, the property may be caused by damage. Remedy for the economic damage will be just pre-purchased insurance policy. Especially, as we have already noted, if the security system is reduced insurance rates.

Another of the reduction factors - the presence of the franchise, which can reduce the policy cost by 5-10%. Deductible - provided for in the contract of insurance the insurer exemption from the obligation to pay damages not exceeding a certain value. Deductible is determined individually, but it rarely exceeds 1.5% of the sum insured selected. If an insured loss event will be negligible within the franchise, the owner will have to pay for it out of pocket. However, if the damages exceed the amount deductible, the insurance company is obliged to pay them. The deductible may be unconditional and conditional. The first involves a mandatory reduction in payment under an insurance contract by an amount deductible (regardless of the size of the damage). The second provides for damages only if the amount of damage claimed more franchises. With the franchise owner will be much more closely relate to his property, and the insurer is confident that it will not divert to compensation "penny" of losses.

Most often, a contract of insurance of immovable property concluded for one year. Sometimes you need an agreement with an insurer to purchase the policy for six months or just for holiday season. Insurance companies also previously warned during the period of the contract must be in writing, notify the insurer of any changes that provides the insured and which may significantly affect the increase in the degree of insurance risk - in particular, the gasification of the house, on the construction of the fireplace, etc.
How to insure quick

Invite a specialist to inspect the house is not always necessary. For the impatient, and too involved insurers have come up with the express policies. The name speaks for itself: such a policy can be issued quickly and at any place. In such a product is usually already set amount of insurance coverage (the list of risks and exceptions), the order of payment of insurance compensation, etc. Insured can only choose Desirable sum insured and pay the insurance premium. Signing a contract can take place not only without examining the object, but often without visiting the office of the company. Because insurers often rely on the spread of model policies to their "service agents", which can perform the functions banks or the public gardeners. Without examining the structure and can be insured on classic insurance policy (in a specified amount).

Of course, this kind of insurance can save considerable time customer. At the same time, the "box" (another name for the express policies) has its drawbacks. Since we have to choose from several fixed choices, coverage may be underestimated. Thus, when the insured event the owner may simply not enough money obtained from the insurer for recovery of the affected facility. Can occur and so that the consumer is expecting to adequate compensation, will buy more expensive policy, but when the insured event company is unlikely to pay an amount that is higher than the real value of the object. Experts advise to buy the express policies for affordable suburban housing (worth up to $ 30 thousand), Real Estate, which is more expensive to insure better with a tour of the property - then they will take into account all features of an object.
If the thunder

When the insured event must immediately contact the insurance company - often within 24 hours from the time it became aware of the incident. Notify the insurer can use the telephone dispatcher or fax. At the same time need to contact the competent authorities (police, fire or emergency service).

For the proof of the insured event will need to collect the relevant documents. Thus, the fire will need a certificate from a legally (in the act must be the reason for the fire), when damaged by natural disasters - from the meteorologist. If the house had been robbed - get help from the police. In addition, the required proof of the damage, estimate or reconstruction. You will also need proof of property interest (the contract of sale, book a gardener, the right to lease or ownership).

It is important to visit the insured to save the object in the form in which it was after the accident, or may refuse to pay. Of course, to try to preserve the affected property is necessary in the event that this does not contradict the rules of safety. A visitor to an insurance expert to the affected property owner must allow unhindered inspection and examination of the damaged property, as well as their reasons, the determination of loss, etc.

It is not excluded that the owner of a country estate learns of trouble a few months later. For example, in the spring came, the owner will see a house with a battered thieved glass or, even worse, burned down homes. Nevertheless, regardless of when the man learned of the trouble, the scheme of action is similar to the above: just tell the insurance company and collect the relevant documents.

As the insurer determines the amount of damage and amount of insurance compensation? When building a total loss the amount of damage is estimated based on the price of the object. In this case the loss (death) of real estate is his status, when a claim exceeds the value of the structure specified in the contract of insurance (insurance cost). If an object is damaged, compensation will be paid in the amount of actual expenses for its recovery within the sum insured. The cost of the improvement of the structure relative to the state in which it was before the insured event, are not reimbursed. And in the first and second cases, the amount of compensation may not exceed the established contractual insurance amount. Simply put, no matter how disastrous was the damage from a home owner insurance company will not receive monetary compensation is greater than specified in the contract.

To trial by an insurance company can take up to two weeks. If the result is positive, then invite the insured within 10 days to receive an insurance payment. Payment of insurance money made through the cashier of the insurer, or the money is transferred into the bank account of the beneficiary.
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