Insurance of an apartment against flooding and flooding of neighbors

The nuances of fire insurance

Federal Law No. 69 “On Fire Safety” dated December 21, 1994 defines the key aspects of fire insurance. You should clearly understand what consequences of a fire the apartment, as well as the property located in it, may suffer from:

From direct combustion;
From combustion products;
From the actions of firefighters when extinguishing a fire.

This language is extremely important because the contract will specify under what circumstances compensation will be paid. For example, if the property and apartment were damaged by combustion products resulting from a fire in a neighboring apartment, but there is no such insured event in the contract, you can not count on payment.

But not only the wording of the contract affects payments, since much depends on the client himself. In particular, each contract necessarily agrees that the policyholder is obliged to take a number of actions upon the occurrence of an insured event (fire):

Take the necessary measures to save your burning property.
Call the fire department, and then get a document confirming the fact of this call.
After this, immediately call the insurer to notify about the fire, and then submit a claim in writing.

After receiving the notification, a representative of the insurance company is required to come to the scene of the fire to personally assess the damage. If you disagree with the agent’s assessment, independent experts should be immediately involved while the picture of the incident remains intact.

What factors make up the total cost of insurance?

Insurance of an apartment against floods and fires is a way to compensate financially for the restoration of a home after exposure to fires caused by the explosion of household appliances or flooding as a result of burst drainpipes, the activities of neighbors or excessive precipitation.

So, how much does it cost to insure an apartment against flooding, fire and other emergencies?

The total cost of residential insurance is determined taking into account the following elements:

housing design - the number of walls, ceilings, balconies and loggias, windows, doors;
engineering communications - heating system, water supply, electricity, plumbing;
repairs – the total cost of floor coverings, wallpaper, decorative elements;
furniture products and household electrical appliances;
territorial location of the home - you can insure an apartment against fire or flooding by neighbors on the outskirts of the city at a lower price than in the center.

When applying for an insurance policy, be sure to ask a representative of the insurance company how the cost of insurance is distributed depending on the specified groups. As a rule, the bulk of the insurance amount is allocated to the preservation of load-bearing walls. If your home is being rented out to people, it is advisable to shell out a large amount of money for home appliance insurance.

In addition, the total cost of insurance is affected by the selected insurance policy. At this stage of time, there are several types of insurance policies:

standard;
individual.

A standard policy is available at a price starting from 1 thousand rubles and is issued remotely. That is, a representative of the insurance company does not visit the client’s home to inspect his living space.

For individual insurance, a representative of the insurance company must carry out a mandatory inspection of the home and carry out a full assessment of its value. The rates of this insurance policy depend on the following factors:

what material are the walls and ceilings made of?
on what floor is the room located?
is there security at the entrance;
How old is the living space?

The peculiarity of this type of insurance is that a person can make certain additions to the contract, for example, insurance against robbery.

Attention! Some companies offer home insurance online. In order to apply for it, you will need to select the offer that suits you, and then use the calculator on the website to calculate the cost of the insurance policy.

After completing the calculations, you can immediately pay for insurance by bank transfer or contact company representatives and make payment upon meeting.

The nuances of flood insurance

St.
1064 of the Civil Code of the Russian Federation obliges citizens who cause damage to the property of third parties to compensate for these losses. But in reality, it also happens that there is no one to demand compensation from, or you can end up in the unpleasant position of the perpetrator yourself. You can insure your property or civil liability. Insurance will help protect money in the event that your neighbors’ apartments are damaged by a fire or flood, the source of which was your apartment. Flooding can occur due to the fault of careless owners who do not pay due attention to the serviceability of plumbing equipment, water supply, sewerage, heating systems, or due to the fault of the management company (housing office). The insurance contract must indicate whose fault the insured event occurred. It is better when the policy lists all possible options, and also states that compensation will be paid for damaged load-bearing structures, decoration, and valuable property.

Among the most common risks included in contracts are:

Leaking pipes due to water freezing in them;
Fistulas in heating systems;
Leaking roof of a building;
Leaks of shut-off valves and other equipment.

As in the case of a fire, in the event of a flood, the owner of the apartment must perform a number of actions in order to receive compensation, and this must be done as soon as possible, since the deadlines are also included in the contract and they are quite short. You will need to do:

Notify the housing office or distribution center about flooding;
Notify the insurance company by phone;
Submit an application to the insurer's office on company letterhead;
Attach copies of documents to the application: policy, apartment inspection report (drawn up by an insurer's agent), examination of the causes of flooding (carried out by a third-party organization or emergency service), calculation of the cost of compensation.

How much does it cost to insure an apartment?

The cost of the insurance policy, if the object of the transaction is an apartment and its possible damage from fire or flooding, is calculated individually.

Its formation is influenced by the following factors:

selected insurance company - different insurers offer insurance programs with different prices;
the cost of the apartment (determined as a result of an expert assessment, which is most often carried out by employees of the insurance company or independent specialists);
the number of risks that will be covered by insurance;
the age of the building in which the apartment is located;
the state of the home's communication systems (for example, water supply);
square footage of the apartment;
features of the premises that are insured (for example, for apartments with wooden and stone floors, the policy will cost differently);
availability of repairs in the apartment, its estimated cost.

For comprehensive insurance, the policy price for the year is calculated as a percentage of the cost of the apartment and is 0.16% (may be higher). For movable property located on the premises, the tariff is higher - from 0.4%.

Depending on all these factors and the selected insurance program, company employees will calculate the cost of the policy. Sometimes it is necessary to make this payment immediately, in a one-time payment, but many companies provide their clients with installments and spread the entire amount over several months (up to a year).

Some companies provide regular customers or buyers of another insurance product with a discount on one of their policies. If the homeowner uses any insurance products of one company and is satisfied with the quality of its services, it is advisable to apply there for insurance for the apartment. In many cases, such a client will be able to save money on the transaction and become a valuable client for the company.

Policy price

In each case, the price is determined individually, with the exception of insurance that is sold online without inspecting the apartment. The disadvantages of this method of insurance are short lists of insured events, as well as low amounts of compensation. Real insurance is issued after an inspection of the apartment, based on the results of which the cost of compensation is calculated.

The decisive influence on the price of the policy is exerted by:

Age, wear and tear, general condition of the apartment and property;
Location, floor;
Availability of a fire and/or security alarm system;
The type of building materials from which the building is constructed, the interior finishing;
Property value;
Condition of electrical wiring and utility networks.

When to go to court

When insuring an apartment against flooding of neighbors, you will need to prove the damage that occurred. The insurance company will request confirmation of loss or damage to the insured property.

You will be helped by a report from the management company servicing your home, photographs, and video recording of what is happening. It may be worth providing testimony from neighbors.

There are cases when the insurance company refuses to pay out in an insured event or disproportionately reduces their amount. The court will help resolve disagreements. Your opponent will have strong legal support. You will need it too. With a competent approach, all the costs of a lawyer will be compensated by the losing party.

Insurance terms

Due attention is not always paid to deadlines, yet this is the most important point of the contract.
Any contract must contain an indication of when it comes into force and when it expires. With regard to insurance contracts, the effective date is not always the date of signing, or rather almost never. Until this date, the insurance is not valid. They are usually insured for a period of 1 month to a year. Short-term policies are relevant for those who want to protect their property interests while they are away from their apartment, for example, during a long business trip, vacation, etc. The contract may also have a prolonged effect, when it is automatically extended for a future period, unless the parties express their desire to terminate it in writing.

Apartment flood insurance: types and features

An insurance company can offer a variety of insurance packages, including a variety of functions, but, in general, there are two main types :

Express insurance. This is the fastest and quite convenient method in some cases. Here, the insurer comes to the policyholder’s office and concludes an agreement with him immediately, without appraising the apartment, without an agent visiting the house. You can specify any insured amount, even if it is higher than the cost of the entire apartment, but, of course, within the limits of the maximum existing in the company. But here it all depends on the insurance premium that the property owner is willing to pay - the higher the amount, the higher the premium. This option is inconvenient because the owner, in the form of evidence that there was equipment, repairs, or any other significant interior elements inside the apartment, will have to keep all checks and receipts, which he will then have to present. It is also worth noting that in a number of companies, with express insurance, there may be restrictions not only on the maximum insured amount as a whole, but also on other elements, for example, on all movable property, etc.
Classic insurance option . In this case, the policyholder makes an application to the insurance company and an agent goes directly to the apartment to inspect and evaluate it. There is such a paper as an inventory of all property, which includes not only a list, but also materials of manufacture, year of manufacture and other significant nuances. Of course, this is a long process, but the benefits are quite high. These include the fact that the owner does not need to store checks and other documents; when an insured event occurs, he simply contacts the company with an insurance contract and a certificate of ownership. In addition, the sum insured under the classic option is in many cases unlimited.

Many companies also develop standard product lines - a standard insurance package that includes some standard items. They already have a certain cost, sum insured, payments, insurance items and risks. An insured event such as flooding is most often included in each package. Such products, at first glance, are quite profitable, but you need to carefully read the conditions - insurers may include an absolutely unnecessary type of insurance, for example, against flooding, in an area where this cannot happen in principle.

The cost of flood insurance is influenced by many factors: specific risks, specific objects of insurance and their cost, the duration of the contract. The cost of counter insurance is also greatly reduced - if neighbors insure their apartments and their liability to each other.

How to save money?

Nobody wants to pay dearly for insurance, so ways to “optimize” costs is a hot topic for homeowners. You can reduce the price of your policy; there are many ways to do this:

Buy a boxed product. This insurance will be sold without looking at the apartment, but it will not take into account its value, expensive property and many other nuances. But it is processed quickly and is inexpensive.
Franchise. The contract initially stipulates that the client pays for damage below a certain amount himself, turning to the insurer only in really serious cases. The deductible can be quite large, and as it increases, the price of insurance falls.
Reduction factor. Insurers use it when a client buys a product and immediately pays the entire amount for it, without asking for a deferment or installment plan. The same coefficients apply to regular customers.

Another recommendation for choosing a policy is not to skimp on insurers. You shouldn’t check the company’s reliability at your own expense; it’s cheaper to use someone else’s experience and turn to a reputable insurer that has proven itself with positive customer reviews.

How to properly insure an apartment against flooding by neighbors

The conclusion of a real estate insurance contract against flooding of neighbors should be approached with the same attention as any other contract. No matter how confident the insurance company specialist may seem, you need to follow some rules and remember your own interests.

Choose your insurance provider carefully. Feedback from other customers will help you. If possible, take an interest in judicial practice. Does it make sense to contact someone who often sues his clients? I don’t want to waste my time protecting my interests when there are companies with a more loyal attitude.

Consider the possible risks carefully. Compare them with your financial situation. The tariff at the conclusion of the contract will directly depend on this. Be sure to decide for yourself whether saving now will result in increased costs in the future or no payments at all.

Pros of insurance

When buying your first home, taking out a mortgage, or moving into a new home, many of us have wondered: Do you really need insurance? Let's try to figure it out.

A home is a valuable asset. Fire or neighbor flood insurance helps protect this investment. And also protect you from unplanned expenses for repairing a damaged home.

The main advantages of insuring an apartment against fire and flood:

the ability to compensate for unexpected losses;
comprehensive protection of all property with one policy;
payment of compensation within a few weeks;
protecting the family from the risk of becoming homeless;
assistance in compensating damage caused to third parties in the event of your accident (for example, blackening of the neighbors’ walls after a fire in your apartment).