Apartment Building Insurance

Apartment Building Insurance if it was Purchased on Credit

If we not always insure the house or apartment because of lack of money when it completely belongs to us, apartment building insurance becomes really necessary if the house or apartment is bought on credit. In this situation in case of damage we need to pay for the renovation and still we pay the credit. It can really ruin the budget, so very often the bank that gives the credit to you, offers the number of insurance companies that can give you the policy.

Credit as the Additional Risk

No doubt that credit is an additional risk for you. You have to give a solid amount of money every month and it seems so foolish to get house insurance policy and pay for it too. But as statistics says, every year at least one disaster happens to any apartment – it can be water flood, fire or robbery. So don’t hesitate and get apartment building insurance policy especially if the place you live at was bought on credit.

Is the House New or Old?

Apartment building insurance policy will cost you less if the house you live at is new. It is easy to explain – if the pipes are new, they wouldn’t be broken so often, if locks work well, the robbery cannot happen at all. But if your house is old, but still you pay the credit for it, house insurance policy will save you in problematic situations.

How to Save Money?

Of course your income per month is limited and you want to save money on house insurance policy if it is possible. But such points as robbery, water flood and fire for sure must be included. To pay less, exclude such point from your policy as paying for structural elements. Even if the damage was really awful, quite rare walls and ceiling are destroyed.

What to Insure in the House during the summertime?

Summertime is that period we are looking forward to during long winter days. It is the time of hot weather and vacations and we think only about pleasant moments. But before relaxing at some beach, you have to check up, whether your house insurance policy lies in the safe place.

Floods and Fires

Such natural disasters like lightening and water flood are widespread in summer much more than in any other season. You must be twice more attentive and for sure get house insurance policy in case if you live in some area where floods and rainfalls happen often.

There are situations when the water flood or fire was caused by careless neighbors. If you left for a week or too, you wouldn’t notice the damage immediately and thus it will have really great gauge. And it is not excluded that you yourself will forget to close the tap and thus caused the water damage. In this case house insurance policy for summer season is necessary.

Robbery during Vacation

Robberies happen twice more often during summertime. It is easy to understand – many people leave their places to have a rest or visit relatives in another country. Get house insurance policy and include that point in it.

Your Actions if Disaster Happened

If disaster had happened, you have to get the house insurance policy and urgently visit the company. It is necessary to write an application to house insurance company within 24 hours after you have been aware about the disaster. If it was a robbery you have to call to police as well. The specialist from the company will come, access the size of damage and then you will get compensation. The amount of the coverage will be defined according to the house insurance policy. If you don’t agree, ask the lawyer to help.

For Those Who Don’t Want to Overpay Getting House Insurance

Is it necessary to insure the apartment? The question seems to be rhetorical. Of course we are ready to get house insurance policy and then sleep well at night. But at the same time we understand that it demands money and quite often we dream to save money. But if disaster happens, we pay much more and don’t get compensation. So it is really necessary to get house insurance policy and not to overpay for it at the same time.

Choosing the Company

When you choose the insurance company, be very attentive. Your task is to find a reliable partner who will support you in case of danger, so check the experience of the company (it is good if the company works for more than 5 years), then be sure that there are at least 50% of cases when the company gave the coverage. If it always refuses to pay for house insurance policy, it is the time to take thought. And it is really good if the company has branches in other cities of your country. It means that it is highly developed.

Communication with the Agent

Remember that the agent receives a commission for your house insurance policy, so he must be ready to help you. It is necessary to invite the agent to you place. Thus he will make necessary photos. Remember that photos will be the only evidence of the damage that took place.

How to Make Changes in Policy

Before signing up house insurance policy you have to read it attentively one more time. Please pay attention on such unit as “Insurance Risks”. There you will find situations when you will be refused to get the coverage. It is possible to make changes in the document, so communicate with your agent and consult a lawyer if it is necessary.