Where to get mortgage insurance. Mortgage insurance: why you need it and where it’s cheaper to get it, conditions and ways to save. Mortgage risk insurance

The legislation in force in Russia today provides for the registration compulsory insurance real estate purchased with a mortgage. However, in addition to this, banks almost always offer additional insurance for the borrower’s life and health, disability, as well as so-called title insurance.

When applying for a mortgage, it is mandatory to obtain insurance for the mortgaged property. Any other types are possible only if the borrower voluntarily agrees to them. The imposition of any related services is considered a violation of the law. Legislative requirements regarding mortgage insurance are set out in No. 102-FZ.

How to get mortgage insurance

Mortgage insurance companies offer different conditions registration of policies. To choose the best option, use the insurance selection service. On it you can calculate the preliminary cost of a mortgage insurance policy, compare the cost of services from different insurers under the same conditions, and apply for an insurance contract with an insurance company online. This will save money and time. The paid work policy will be sent to you by e-mail within a few minutes.

To insure a mortgage, you will need the policyholder's passport and real estate documents.

Actions in case of an insured event

The contract concluded with the insurance company contains a list of actions that the borrower must take in the event of an insured event. In most situations you need to do the following:

• notify the insurer;
• try to minimize the damage caused to the object;
• wait for the representatives of the Investigative Committee and provide them with access to the property;
• promptly draw up the documents specified in the contract as confirming the occurrence of an insured event.

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When applying for a loan to purchase real estate, the borrower must enter into a comprehensive insurance agreement.

This service provides complete financial security for the bank and the person receiving the loans.

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What is this type of service?

According to the Mortgage Law, property insurance is mandatory.

Banks are interested in minimizing the risk of loan default that arises for various reasons:

• job loss;
• deterioration of health;
• property damage;
• loss of property rights.

Since the loan is taken out for a long period of time, financial institutions take all possible measures to protect funds.

This is how comprehensive insurance was formed, providing complete safety in various unforeseen circumstances.

It includes three product categories:

• protection of property from various risks;
• protection of the health, ability to work and life of the borrower;
• title protection (property rights);
• protection of the borrower's liability for non-repayment of debt.

People will be able to cover losses from the adverse consequences of different types of real estate: house, apartment, dacha and others.

The agreement is concluded for a period of 12 months and includes an extension until the end of the mortgage payment period.

The amount within which the insurer pays compensation is established in two ways:

• initial debt (interest for the current period is added);
• as a decreasing amount commensurate with the reduction in debt to the bank.

In what situations is monetary compensation provided?

The company compensates for losses from partial or complete damage to property as a result of:

• fire;
• lightning strike;
• explosion of steam boilers, gas;
• natural Disasters;
• subsidence and subsidence of soils;
• leaks due to failure of water supply systems;
• release of soil water;
• household gas explosion;
• falling flying objects or their fragments;
• collisions with vehicles.

Health and life insurance provides monetary compensation at:

• loss of temporary working capacity of a citizen;
• disability;
• death caused by an accident.

Title protection obliges the transfer of funds to credit institution if the following events occur:

• loss of property rights of the borrower;
• there was interference from third parties;
• rendered judgment on restriction of property rights.

A debt liability insurance product is used in situations where the borrower is unable to service his debt.

This can happen for several reasons:

• additional costs as a result of default;
• insufficient funds after the sale of collateral real estate.

The insurance company does not compensate for damage caused in all cases.

Monetary compensation is not provided if:

• nuclear explosions;
• hostilities;
• radioactive radiation.

What are the advantages of such insurance?

Complex mortgage insurance ensures the security and stability of the real estate lending system.

In this regard, the borrower receives the following benefits:

• prompt decision-making regarding the execution of the contract;
• reduced interest rate on the loan;
• minimum down payment;
• loyal attitude of the bank to providing a loan;
• reasonable tariffing ensures economic feasibility, since an integrated approach combines several categories;
• guaranteed and timely financial compensation in the event of an insured event thanks to cooperation with one rather than several companies;
• Every year, insurance payments decrease as the amount of the principal debt decreases.

After concluding a comprehensive insurance agreement, the bank and the borrower will have confidence in the future.

Which companies and under what conditions provide comprehensive mortgage insurance?

Not every organization offers the service in question. Typically, several risks can be insured at accredited agencies of the bank where the borrower is applying for a loan.

For getting comprehensive insurance it is necessary to conclude an agreement with the selected agency.

The borrower must comply with the following conditions:

• informing insurance specialists about circumstances that are significant for the occurrence of an adverse event;
• answer all the agent’s questions in detail to conduct an in-depth risk analysis;
• provide data on previous real estate transactions to check legal purity;
• submit an application for insurance in the prescribed form.

Changes made to the contract are valid if they do not contradict the law.

You can familiarize yourself with the rules of comprehensive insurance of one of the Russian insurance companies from the following document:

To obtain comprehensive insurance, the borrower must submit the following documents:

• Russian passport;
• a photocopy of the agreement concluded with the bank;
• copy and attachments;
• information about solvency;
• balance sheets for the last reporting date (for legal entities);
• certificate of ownership;
• confirmation of registration in a single state register rights to real estate(in the presence of);
• other acts related to risk.

Some accredited companies financial institutions are presented in the table.

In what cases does the contract expire?

The insurance expires at 24 hours local time on the day specified in the contract.

There are certain circumstances under which it will not be provided to the borrower:

• failure to pay fees when due;
• liquidation legal entity who is the insured (by court decision);
• the existence of the risk ceased for reasons not specified in the contract;
• in case of violation of the terms of the agreement;
• liquidation of the insurer in the manner prescribed by law;
• at the request of the policyholder (payment of contributions is provided).

Insurance cost

The cost of comprehensive insurance is determined depending on the following factors:

• age and health status of the borrower;
• insurance period;
• number of previous real estate transactions;
• condition of the property;
• loan size.

The price of the service in question is determined individually for each case and varies from 0.5 to 1.5% of the loan amount.

It includes the cost of insurance:

• title - 0.2% per annum;
• property – 0.3%;
• – 0,5 %.

The final rate is determined by the individual company's terms and conditions. If the borrower takes out several policies for individual cases, there are more expenses.

The cost of comprehensive mortgage insurance in some Russian banks is presented in the table.

What difficulties are possible when forming an agreement?

Each program is governed by special principles that define a clear list of insurance objects, and other factors become exceptions.

Hello, friends!

If you are applying for a mortgage or are just looking at this option to improve your living conditions, then you will inevitably face the issue of insurance. It cannot be ignored, because the state obliges every borrower to deal with it. Until now, we have learned to read carefully bank documents on deposits and loans. It's time to study an equally important topic - mortgage insurance.

What is it, why do you need insurance and how to calculate it? These are the main questions for our discussion in this article.

Mortgage loan insurance is a procedure that is designed to reduce the risks of loss or damage to property pledged as collateral, as well as to protect the bank and the borrower from non-payment of the loan.

There must be an insurance policy. Depending on the object, the following types of insurance are distinguished:

• Insurance of real estate pledged to the bank against possible damage as a result of emergency circumstances.

For example, fire, flood, man-made accidents, etc. This type is mandatory, as indicated by the mortgage law adopted back in 1998.

If the damage was caused by the borrower, the insurance company will not compensate for the damage. Also, not all cases of emergency will be accepted for compensation. For example, damage to property as a result of military operations, street riots, etc. This is described in detail in any agreement, so it makes sense to familiarize yourself with it before signing.

• Life and health insurance of the borrower and co-borrowers.

This type is conditionally voluntary. Why conditional? Because refusal personal insurance entails an increase interest rate for a mortgage at least 1%. Few borrowers agree to this. Banks do not hide this information; you can see such a condition on the website.

• Title insurance.

What it is? This is to protect the bank’s interests from the borrower’s possible loss of ownership of an apartment or house. Applies only to real estate on the secondary market and is voluntary insurance.

How can a borrower lose ownership? There are any number of cases. For example, a close relative showed up (brother or sister, husband or wife, son or daughter), who was absent for a long time, but had the right to own a share in the apartment. As a rule, this is the seller’s dishonesty and the carelessness of the registration authorities. The result was a trial and many years of litigation.

What kind of insurance you need is up to you to decide. But soberly assess the consequences of your decision. Every agreement with a bank has a clause that it has the right to demand that the borrower repay the loan if he fails to fulfill his obligations to the bank. For example, refusal to insure an apartment after a year, two or 10 years, when the loan has not yet been repaid.

Procedure for obtaining insurance

Availability of an insurance policy that protects the collateral from loss and damage – required condition obtaining a mortgage loan. You must present it upon receipt credit funds. If you wish, you can also arrange protection of life, health and title.

Keep in mind that many insurers have comprehensive insurance that includes all of the above policies. If you are determined to protect yourself from all sides, then take a closer look at comprehensive protection. It comes out cheaper than buying a separate policy.

Procedure for obtaining a protection policy:

1. The first thing you should do is review the list of accredited insurance companies on your website. mortgage bank. For example, Sberbank currently has 20 accredited companies that insure real estate, and 16 that insure life and health.
2. Study the bank's requirements for insurance companies and the conditions for the provision of their services.
3. Study the rates in all companies and the possibility of applying for a policy online, if this is important to you.
4. Choose an insurer that is beneficial for you. Please note that tariffs between companies may vary significantly. And you shouldn’t always work with the cheapest company. In order to save money, it may not include certain types of insurance events in the contract.
5. Prepare a package of documents for execution of the contract. Unlike a loan agreement, in this case the list will be minimal: loan agreement, ownership documents, appraiser's report. In some cases, the insurer may require medical documents or even send for a medical examination.
6. Conclude an insurance contract. It can be concluded for 1 year or for the entire loan term. In the first case, you must renew it every year or, in case of refusal, be prepared for banking sanctions in the form of an increase in the interest rate or complete cancellation of the loan agreement.

Insurance case

The list of such cases may vary slightly in different companies, so check the information when completing the documents. The following types of damage to the collateral are subject to compensation:

I took this information from Sberbank and its accredited company. For almost every item there is a detailed explanation of in which case compensation will be paid and in which case it will not. Similar information can be obtained from any company with which you intend to cooperate.

Each case must be documented. The list of documents may include:

A policy that protects the life and health of the borrower and his co-borrowers will shift the burden of payments on mortgage loan to the insurer in the event of:

• death of the insured due to illness or accident;
• temporary disability,
• receiving disability.

Prepare supporting documents. Each insurer has its own list. These are medical records and certificates, accident reports, death certificates, documents from the Ministry of Internal Affairs, etc.

Let me remind you that it is advisable to apply title insurance only to mortgaged properties on the secondary market. And the main documents in this case are judicial ( statement of claim, the court's decision).

What to do if damage or loss of the pledged item does occur during the validity period of the contract:

1. Take all measures to rescue or reduce damage.
2. Call the appropriate authorities to eliminate the consequences. Get supporting documents from them.
3. Call a representative of the insurer to assess the damage.
4. Within a few days (check with your insurer), prepare documents and contact the company to receive compensation.

The main rule is to immediately notify insurance organization about the occurrence of an insured event.

I wish you never have to use your policy. So let's move on to the issue of cost. How much does it cost to insure yourself and your property?

Cost of insurance services

Where can you insure yourself and your property? And where can it be done cheaper? Here are the main questions that arise before everyone mortgage borrower. First, let's look at the factors that affect the cost of insurance services:

1. Requirements of the bank where you apply for a mortgage for insurance coverage.
2. Mortgage loan size. Every year it will decrease, therefore, the cost of insurance services will also decrease.
3. Age, gender, health status of the borrower and co-borrowers. And also the cost may be affected by the nature labor activity which the insured person is engaged in, and his hobbies, for example, extreme sports.
4. Type of collateral (apartment, house), specifications(material of walls, foundations, floors, year of construction for secondary real estate, accumulated wear and tear, etc.)

All insurers have different rates. An analysis of company websites showed that only some have calculators that can be used to independently calculate the cost of the policy. For the rest, you will have to find out by phone or send an application. XXI Century…

Let's look at how the cost of a policy is calculated using Ingosstrakh as an example. What you need to know before calculating:

• name of the creditor bank;
• the balance of the mortgage loan;
• requirements to insurance policy presented by the bank.

For conditional example the cost of insurance services for the collateral we will use the calculator on the Ingosstrakh website.

Calculation results.

Thus, the tariff was approximately 0.18%. I have to pay 4,411.76 rubles per year under the policy.

If you repeat the same actions to protect life and health, the cost of the policy will be almost 15,000 rubles. in year.

Carry out similar actions across the entire list of accredited insurers and select the optimal rate. You will not see specific figures on tariffs on any website, because the cost of the policy depends on many factors and will be set individually for a specific borrower.

Review of insurance programs

I will conduct a short review of the programs that offer mortgages Insurance companies from the top 5.

Ingosstrakh

The company is accredited in most credit institutions. Offers 2 programs.

The policy can be issued online. Let's look at the cost of comprehensive protection, which includes all 3 types of insurance.

Initial data:

• VTB Bank, Moscow;
• I insure an apartment with a registered title;
• loan balance – RUB 2,500,000;
• the borrower is a woman born in 1976 with a 100% share in the loan.

Let's use the calculator:

1. The cost of the property protection policy is RUB 4,312.5.
2. The cost of title defense is RUB 7,187.5.
3. The cost of protecting life and health is RUB 9,772.13.

Total total cost – 21,272.13 rubles.

For Sberbank the picture is different. The bank does not require title insurance. By agreement with him, a 15% discount is available for online registration. The cost of a comprehensive policy without a discount is 19,408.82 rubles, with a discount – 16,497.5 rubles.

Ingosstrakh offers to add additional options to the policy.

Sogaz

Insures against all types of mortgage risks. As advantages:

• possibility of paying the insurance premium in installments;
• refund of part of the insurance early repayment loan;
• the possibility of a free medical examination, if required.

But a significant drawback is the lack of a calculator on the site. Accordingly, it is not possible to navigate by price. You must leave a request and wait for a response.

Sberbank insurance

The company insures only against 2 types of risks:

• damage or loss of property pledged,
• death and disability.

Title insurance is not provided. There is no calculator on the site. Tariffs were found in a voluminous document on several sheets. They are summarized by different types risks into a single table plus correction factors depending on factors that influence the degree of risk.

The objects of insurance in the apartment are the following structural elements:

• walls,
• partitions,
• floors, ceilings,
• windows and doors.

In a house, the roof and foundation are added to the listed elements. Sberbank does not insure apartments in buildings older than 1955. The base rate starts from 0.25% of the mortgage balance. When you register online, the company gives a 10% discount.

RESO-Garantiya

The company issues insurance against 3 types of risks. There is a calculator on the site, but the calculations do not work for clients of Sberbank and Russian Capital Bank.

The cost of my comprehensive policy was 15,675 rubles. with a loan balance of 2,500,000 rubles, i.e. the tariff is 0.627%.

For individual species the picture is as follows:

1. Real estate – 4,000 rubles. (0.16%).
2. Health – 8,175 rub. (0.327%).
3. Title + real estate – 12,750 rubles. (0.51%).

According to borrower reviews, the tariffs at RESO-Garantiya are among the most affordable.

VTB insurance

In addition to the standard policy, which will cover the bank’s losses in the event of an insured event in the amount of the balance of the loan outstanding, VTB offers to take out insurance for full cost apartments.

For example, you bought a home for 3,000,000 rubles, paying a mortgage of 1,500,000 rubles. and 1,500,000 rubles by investing own funds. If property is damaged under a regular insurance contract, the company will pay the bank 1,500,000 rubles, but you will lose your money. When purchasing additional insurance, the remaining 1,500,000 rubles. the company will reimburse you personally.

The company has developed 9 software packages at different prices. I will show only a fragment of the table.

For military personnel buying housing under the “ Military mortgage”, are provided special conditions, allowing you to issue a policy online and with a discount of up to 30%.

Tax deduction for insurance

I discussed the question and how to do this in a separate article. But here I want to say a few words about social deduction. The fact is that Article 219 Tax Code The Russian Federation has been given the right to receive tax deduction for life insurance with a mortgage in the amount of 13% of the amount of contributions under the contract. But for this the following conditions must be met:

1. Separate life insurance contract.
2. The contract is concluded for 5 or more years.
3. The agreement is drawn up in favor of the borrower, and not in favor of the bank.

In most cases, the recipient of compensation for insured event associated with the mortgage is the bank. The same applies to a comprehensive insurance contract for 3 types of insurance. In this situation, you can’t count on 13% from the state.

Conclusion

Let's look at insurance not as an additional financial burden on the borrower, but as protection against the risks of loss or damage to real estate, death or disability. In 10 to 30 years, no one knows what might happen. And no one will cancel loan payments. The policy will allow you to share risks with the insurance company. That is why the state made the procedure for protecting the collateral mandatory. Knowing about the “love” of the majority of citizens for insurers, this measure was forced. We have not yet learned to take care of ourselves.

I foresee the indignation of some readers about yet another way to make money from citizens. Not without it. Business is business. Would you voluntarily insure yourself if you were given such a right?

First of all, we note that according to the law, anylife insurance carried out solely with the voluntary desire of the borrower himself. No one has the right to force you to make a policy. On the other hand, it is in the interests of both the bank and the client to draw up an agreement to reduce financial risks.

Many people are interested in what . Follow the link to find examples of calculations. Briefly, for most clients under the age of 50, it is still more profitable to insure, the rates are significantly lower compared to the increase in the rate. This allows you to save on the amount of the monthly payment, and, what is much more important, to receive payments in the event of death/disability of group 1 or 2.

Please note that . This is a requirement of the Mortgage Law.

Second important point. Buying a policy is allowed only from an accredited company. Each bank is required to publish a list of selected insurers on its official website. For example, in the list of Sberbank (as of May 2019) there are 15 of them, VTB - 20, Absolutbank - 9, Transcapital - only 5. It is clear that the fewer admitted, the lower the chance of finding a profitable option. This creates opportunities for abuse and manipulation. The bank only allows those who offer a large commission for selling policies.

If you think that such lists limit rights and violate the law, then we will disappoint you. This practice has been absolutely legal since 2009, when the Government of the Russian Federation and the Antimonopoly Service issued a special Resolution. It details the procedure for admitting borrowers to risk insurance. More details in the article " ".