Property insurance. Residential Real Estate. The insurance contract.

In the previous parts of this great article we told you about the insurance risks and insurance facilities for suburban real estate. And this tells you about the bureaucratic side of the property insurance, what documents you need for property insurance contract. The main principle for a contract of insurance suburban real estate is the presence of an ownership interest of the Insured in respect of conservation of the property insurance. And documentary evidence of such interest of the Insured is the following:

Documents of title to land on which the facility is built insurance.

This may be evidence of the state. registration of ownership or lease of the land. This can be a gardener's book, affirming the right of possession and use of this site.

Legal documentation for the object of insurance. It could also be a certificate of state registration of ownership of the house. It should be noted that this paper is required for presentation, usually at the conclusion of the contract of insurance on large and expensive house. For small cottages enough to attach to a copy of the contract of insurance books gardenerThere are situations when the policyholder has not yet become the full owner of the object of insurance, but it was against his own pecuniary interest. For example, inherited. And he wants to enter into a contract of insurance of this legacy. Then the title documents are documents concerning the parentage of the process (copy of the will, court decisions, etc.).

You may ask why this is necessary and if you can not do without it? Answer - this is a mandatory procedure, and in the provision of these documents should be concerned about is you. The insurance contract can be concluded without presenting any documents on the subject of insurance. But if an insured event occurs, and you will not be able to confirm their interest in the preservation of the object of insurance - guarantees a refusal to pay compensation.

As an example Nevesely that guide insurance companies in such situations, we present the following scenario. The policyholder has concluded an insurance contract on a wooden cottage on the farm. However, legalize the rights to this insurance, he did not have time. The neighbor, who fought for this land, setting fire to his house. The cabin burned down. The insurance company refused to pay, because the owner of the burned property could not provide any paper on the ownership of the right nor the lodge, nor the land.

So, we wish you well-insure his suburban property, and did not experience all the procedures for registration of the insured event!