Insurance of property of individuals: features and rules

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Personal property insurance is one of the most popular and demanded types among the population. The fact is that, having insured his movable and immovable property from damage or theft, a citizen can no longer worry about the occurrence of an unforeseen event. In any scenario, a person, even having lost valuable things, can soon acquire them again with the payments received from the relevant organization. How to insure your property, secure your financial interests, will be discussed in this article.

Why should you insure your property?

Our citizens are accustomed to living with positivity, they never think of fire, flood or other emergencies. How insulting it becomes when all the property, in which huge money and effort was invested, burns down completely and cannot be restored. But it was possible to insure it and buy it for the paidinsurance company amount new.

Of course, it is impossible to foresee all emergencies, but it is possible to insure against possible harmful effects or circumstances to which a valuable thing is exposed. That is why the number of contracts concluded with agents of such organizations is increasing every year.

Voluntary insurance

Insurance of property of individuals on a voluntary basis implies that a citizen of his own free will decides to insure his valuables. The contract indicates either a standard set of unpleasant events (fire, theft, flood, etc.), or those risks to which the property is subject at the discretion of the owner.

The cost of voluntary insurance is calculated individually for each client, depending on the type of property and its service life. It is important to remember that not all valuables can be considered as an object of insurance. This is explained by the fact that if for the owner the property has value (for example, a thing is dear as a memory), then for the company it is just a piece of paper or a trinket. Each subject of the contract is strictly regulated by the rules of a separate insurance organization, therefore, before choosing an insurer, you must carefully study the conditions of its work.

Compulsory property insurance for individuals

The most common object of compulsory property insurance is the protection of vehicles in case of an accident. Itis mandatory for all citizens who have a car, because the likelihood of an emergency is very high. Residential premises and houses of citizens subject to high risk are also subject to compulsory insurance. For example, those buildings that are located in the seismic zone.

Insurance of property of individuals is strictly regulated by law, and you can ask the company about those objects that must be insured.

How to insure property

Having decided what needs to be protected from damage or loss, as well as from what, that is, by choosing insured events that may result in damage to property, you can safely go to your agent. First of all, it is necessary to choose a reliable organization in order for it to insure the property of individuals. Rosgosstrakh is one of the largest and most reliable companies that help protect citizens' valuables.

When choosing an insurance company, you should take into account its experience in this market, customer reviews, as well as tariffs and cost of services. Today you can find a description of any organization and find out its reputation.

After the insurer is determined, you must go to him to conclude a contract. Before drawing up a contract, the insurance agent will evaluate the property and write in the policy those unpleasant situations from which, in fact, the owner protects himself.

How much does it cost to insure the property of individuals

In addition to assessing valuables, you will need to pay personal property insurance tax. The cost will be calculated individually for each client. However, there are certain prices and tariffs for car insurance, which can be clarified with a company representative. Only the OSAGO policy, which protects the civil liability of all drivers, has a tariff strictly regulated by the state. It is the same in all insurance companies, but the cost of insuring an apartment or other valuable property of the owner should be checked with the agent.

In any case, insurance of property of individuals, the tariffs of which are calculated individually, will be able to protect the interests of clients in unforeseen situations, and will be much cheaper than, for example, buying a new home with your own money. Companies take the estimated value of the insurance object as a basis for calculation and multiply it by the tariff rate, which is equal to from 0.2 to 3.1%. The higher the likelihood of an emergency, the higher the percentage will be. To simplify your calculations, you can use a special calculator for calculating the sum insured, which can be found on the official website of the company.

Helpful tips

Before you call a company representative to assess the property and conclude a contract, you should call an independent expert. He will be able to adequately evaluate valuable things without underestimating their value, as they domany insurance companies. Personal property insurance is a profitable niche in this service market. That is why, wanting to earn even more, unscrupulous insurers try to deliberately underestimate the value of their clients' valuables. In order to avoid such unpleasant situations in the future, it is better to show the assessment form to independent experts and then conclude a contract.