Apartment insurance against flooding and flooding

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):

1. Take the necessary measures to save your burning property.
2. Call the fire department, and then get a document confirming the fact of this call.
3. 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.

It’s flooded, but the apartment is insured: what to do?

Unforeseen situations involving damage to real estate in multi-storey buildings can arise at any time. Timely insurance of an apartment against flooding of neighbors can help avoid a large number of troubles associated specifically with these force majeure circumstances.

In the case when the apartment was insured against flooding of neighbors and a flood occurred, you should immediately call a specialist from the housing and communal services sector, or another employee from an authorized authority.

He will be able to record traces of the incident as soon as possible and draw up an appropriate report. In this case, you should ensure that the expert notes all the damage caused in the document.

The next step after insuring your apartment against flooding of your neighbors will be to establish the exact cost of the damage. This can be done either by a representative of the company that previously provided insurance, or by another person who has the necessary authority to take these actions.

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The very fact that insurance of the apartment against flooding of neighbors was carried out earlier means a change in the person who will be obliged to compensate the damage to the injured citizen. Now this will become the responsibility of the company that previously provided its services for the protection of real estate.

To do this, the owner needs to go there and submit an appropriate application to receive a compensation amount for previously obtained flood insurance for neighbors. All previously received documents must be attached to the application - an act, an assessment certificate, etc.

The insurance company must accept all papers and begin reviewing them. As a rule, the decision on payments to insure an apartment against flooding of neighbors is made within a few days, depending on the terms of the current contract that was previously concluded with the client.

Produced flood insurance for neighbors will not mean that the guilty party will no longer have to make compensation payments. The company that cooperated with the owner of the property must contact the responsible person to collect funds from him. But this problem should no longer concern the owner of the premises, who will be able to receive his money within the established time frame.

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 against flooding?

This program offers protection:

Insurance is a voluntary type, and the client independently chooses the risks that will be included in the policy.

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The cost of the policy depends on several factors:

Features of the procedure

Nuances:

When choosing individual flood insurance, the specifics of the transaction are taken into account:

Service price

The cost of issuing a policy varies from 1,500 to 20,000 rubles per year. Insurance for several days will cost 500 rubles.

And several tens of thousands will have to be paid annually to insure an apartment with luxury renovations and expensive equipment.

On average, the company will have to pay 0.3-1% of the market price of the property at the maximum insurance premium.

The cost of the policy may be increased if the apartment is located in a dilapidated or old building.

For a sample act of flooding of non-residential premises, read the article: act of flooding of non-residential premises. Read the actions of the management company in case of flooding of an apartment here.

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.

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.

Bank offers

Such as:

If any company has already drawn up an insurance contract (or a loan), then you can count on receiving a discount. This point will be clarified with consultants.

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:

1. 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.
2. 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.
3. 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.