Mortgage insurance for DOM.RF bank: prices, conditions, calculator

One of them is the fear that something might happen to the building. Hence, almost every homeowner, even at the stage of unfinished construction, has a question: “To insure or not to insure the property?”

In Europe, 9 out of 10 private homes are insured, while in Russia this figure only slightly exceeds 10%. On the one hand, you don’t want to pay when the cherished “miss” might happen, but on the other hand, there is a folk wisdom in your head about a stingy person who pays twice. Let's take a closer look at the issue of insuring a house or cottage, which has already been repeatedly raised by FORUMHOUSE participants.

desantnikvasa FORUMHOUSE user

Forum members, does it make sense to insure the unfinished structure of a house (frame, windows, doors and roof) against natural disasters and property damage?

Labrador FORUMHOUSE user

This year I decided to put a change house on the site for temporary living during the warm season. I was thinking about insurance. The change house will cost a little over 50 thousand and it would be a shame if it suddenly burned down. There are “smart” people who, instead of mowing the grass, set it on fire.

Does anyone have experience with household insurance? buildings I looked on the Internet on the websites of different insurance companies for prices. Some are ready for 550 rubles, some for 2200. I would like to understand the approximate cost and, most importantly, see the reviews of those who have insured in practice. To choose a company with reasonable prices and so that you don’t get screwed if an insured event suddenly occurs.

Gullever FORUMHOUSE user

I have the following problem: I bought a plot of land in SNT. On which stood a brick temporary shed. I decided to make a bathhouse out of it and got so carried away that I didn’t think about the proximity to the neighboring plot, I invested thousands in it. 200, the extension was made by frame. And when I finished, I saw that my bathhouse was right next to the neighbor’s wooden house, half a meter away. Now I'm afraid to heat the bathhouse. Now I’m thinking about insuring the bathhouse and my liability against fire.

Deep FORUMHOUSE user

Question about the house in SNT. What documents do insurers usually need when paying compensation? Does insurance usually cover, for example, fire due to an electrical short circuit, lightning, or arson?

Mortgage in DOM.RF: advantages and disadvantages

DOM.RF implements government programs in the housing sector and provides mortgages. In this bank you can get a mortgage under all government programs: family mortgage, preferential mortgage, Far Eastern mortgage, etc.

When applying for a mortgage, the borrower must evaluate all the pros and cons of service at the bank specifically for his mortgage, because the conditions for borrowers in each case may be different.

Advantages of mortgage lending:

• Mortgages from DOM.RF Bank are provided at competitive rates.
• The borrower can confirm his income in any way.
• Special preferential conditions have been developed for certain categories of people.

Among the shortcomings, clients note:

• Review of applications takes a long time.
• Borrowers' documents, as well as real estate papers, are checked more carefully and more demandingly than in other banks.
• If you refuse insurance, the interest rate increases by 0.7%.

What can you insure?

It is not necessary to insure the entire house, and you can insure not only residential buildings.

The insurance can include:

• only supporting structures;
• facade and external decoration;
• interior decoration;
• furniture/interior items/valuables;
• engineering systems;
• plot;
• individual elements/objects located on the site;
• non-residential buildings on the site (garage, bathhouse, barn, etc.);
• unfinished construction projects;
• responsibility to other persons.

What insurance is needed for a mortgage from DOM.RF Bank

Regardless of the mortgage program you choose, you must obtain mortgage insurance. The concept of “mortgage insurance” includes not one type of protection, but three.

Insurance of collateral (i.e. property that is pledged to the bank - a house/apartment) is mandatory according to the mortgage law. This means that the borrower must take out insurance for the apartment and provide a policy for the transaction.

Life and health insurance of the borrower is a voluntary type of insurance. But you will also have to apply for it, since otherwise the bank will raise the interest rate on the loan. The borrower has every right to refuse life insurance and pay a higher rate, but this is generally not profitable.

Title insurance is also optional. This is mainly required when purchasing housing on the secondary market. But sometimes insurance may be required for a new building. For cancellation of title insurance, there is a rate increase, as is the case with life insurance.

Select insurance:

Real estate insuranceReal estate

Life InsuranceLife

Life and real estate insuranceLife and real estate

What points in the contract should you pay special attention to?

An insurance contract is a legal document concluded between the policyholder and the insurer. Its essence is that the policyholder undertakes to compensate the insurer a certain amount of money when an insured event occurs.

When the transfer of the full package of documents has taken place, the insurance company will provide the policyholder with a contract containing the following data:

• personal data of both parties;
• house details;
• rules and obligations of the parties;
• grounds for termination of the contract;
• procedure and conditions of insurance payments;
• settlement of disputes;
• duration of the contract;
• other conditions;
• details of both parties;
• date of conclusion of the agreement and signatures of both parties.

And although all the clauses of the contract seem simple and understandable, it is worth first submitting the document to a lawyer for review. He will be able to determine the positive and negative aspects of the agreement.

When checking the contract yourself, you should pay attention to the following points:

1. Insurance rules. All insurance terms and conditions must be transparent, without generalizations or ambiguities.
2. Sum insured. The agreement must indicate a specific amount of compensation in the event of an insured event.
3. Risks. All of them must be spelled out accurately.
4. Conditions for changing the sum insured. Some companies include conditions in the contract according to which depreciation of the property is deducted from the compensation amount.
5. Terms of compensation procedure. The contract must indicate the terms for reimbursement of monetary compensation and the procedure for its payment.

Many owners have a very natural concern about the security of their shelter. The real salvation here is private home insurance against possible risks. Our experts have prepared articles on how to obtain insurance for an unfinished country house, in company offices and online.

What risks does mortgage insurance protect against?

Protection of an apartment/house consists of financial compensation for losses in the event of damage or destruction of the housing structure. This type of insurance allows the borrower not to repay the debt to the bank if something happens to the apartment. The insurance company bears all costs.

Property insurance includes the following risks: fire, explosion, natural disasters, etc. It is worth considering that only the housing structure is insured. For example, if personal belongings or repairs are damaged as a result of the flood, this is not covered by mortgage insurance.

If you want to additionally protect repairs, household appliances and personal belongings from damage, you must take out apartment insurance (does not apply to a mortgage).

Apartment insurance

Life and health insurance includes the risk of death and disability. When these insured events occur, the insurance company pays off the mortgage for the borrower.

When applying for this insurance, you must provide medical certificates. If it turns out that the borrower was hiding the disease, the insurance company may refuse to pay.

Title insurance protects the property rights of the property owner. Within three years from the date of purchase of the apartment, the other party can challenge the borrower’s ownership rights. Therefore, this insurance is necessary to protect yourself from the legal side.

Statement

Now you can proceed to writing your application. It should contain the following data:

1. Information about the policyholder – name, legal address, actual address, type of activity.
2. Description of the house that is covered by insurance. Here it is necessary to indicate the total area of ​​the building, the number of rooms, floors, the year the house was built, the flooring material, the current use of the building, the presence of tenants in the house, repairs are or will be carried out, minor construction work.
3. Loss statistics. Describe all losses that have occurred in recent years.
4. Previous insurance.
5. Required insurance liability limits.

Is it possible not to take out mortgage insurance for DOM.RF Bank?

Refusal of each type of insurance has certain consequences:

• The borrower cannot refuse property insurance, since this is the main condition for obtaining a mortgage from DOM.RF Bank. It is worth considering that the contract will need to be renewed annually until the mortgage is fully repaid.
• The client can refuse voluntary life insurance, but then the bank has every right to increase the interest rate on the loan. At DOM.RF Bank, an increase of 0.7% is provided for refusal of personal insurance. This is a fairly low percentage, since most banks increase the rate by 1.5-2%.
• The borrower may not obtain title insurance. DOM.RF does not increase the rate if you cancel this agreement. But you should take out insurance for your own safety.

Mortgage insurance on the POLIS website

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Price

The price of insurance may vary. The decisive factor in this case is the amount of insurance. The final cost of private home insurance is influenced by the following factors:

• basic tariff;
• home decoration;
• valuation characteristics of property.

In addition, the following is taken into account:

• price of materials used for construction and finishing;
• design features of the heating system;
• frequency and stability of people living in wooden buildings;
• who lives in the house: owners or tenants;
• in what year was the wooden house built;
• duration of the insurance contract.

Let's look at examples of calculating annual insurance payments for two different households:

1. The object of insurance is a 2-story house made of timber, the estimated value of which is 12,500,000 rubles.
   It has bars on the windows, steel doors, a fireplace, water heaters, and an electric heating system. The cottage is used on a regular basis and the owner lives there. Insurance package: a full range of risks. In the example under consideration, the insurance rate will be equal to 0.7-0.8% and the annual insurance payment will be 87,500-100,000 rubles.
2. A wooden house with an estimated value of 5,000,000 rubles is subject to insurance.
   It has oak doors, a stove, no bars or shutters on the windows, and a water heater. The house is used by tenants, and not on a regular basis. Insurance package – against fire. Taking into account these conditions, the building will be insured at a rate of 0.8-1%, and the annual payment will be 40,000-50,000 rubles.

Where to get mortgage insurance for DOM.RF

You can take out insurance from any company that is accredited by DOM.RF Bank.

If bank employees insist on purchasing a policy from the bank, the client may refuse and choose a company where the policy will be cheaper.

List of accredited companies for mortgage insurance of DOM.RF Bank in 2021

The most favorable insurance rates on Polis812. Each client receives 500 bonus rubles, which can be used to pay for part of the insurance, as well as a promotional code for a 5% discount.

How much does mortgage insurance cost DOM.RF?

The cost of each type of mortgage insurance consists of various factors and is calculated separately for each case.

When taking out a real estate policy, it is taken into account which object is insured. It is cheaper to insure an apartment in a new building than a private house or apartment in an old building.

When insuring life, several main factors are taken into account: health status, gender and age, employment in dangerous work. Each of the factors increases the cost of the policy. Also, the price of each type of policy depends on the amount of the remaining balance on the mortgage.

You can pre-calculate the price of mortgage insurance DOM.RF using an online calculator.

Documentation

Each insurance company requires its client to provide its own set of documentation, but there is a standard set that cannot be avoided.

It includes:

• citizen's passport;
• documents for real estate and land;
• technical papers - building plan, technical passport.

Since insurers themselves are interested in quickly drawing up a contract, they do not bother the client with paperwork and make do with the minimum set.

Online mortgage insurance DOM.RF on Polis812

• Only with Polis812 you can insure your mortgage from DOM.RF Bank at the best prices.
• You can apply for a policy online. To do this, you need to enter your mortgage information and select an insurance program.

• After filling out the form for the insurance contract and payment, the policy will be sent by email.
• You can clarify all your questions in the online dialogue of the POLIS support service.

Comments: 2

Your comment (question) If you have questions about this article, you can tell us. Our team consists of only experienced experts and specialists with specialized education. We will try to help you in this topic:

Author of the article Irina Rusanova

Consultant, author Popovich Anna

Financial author Olga Pikhotskaya

1. Lprisa Vasilievna
   10/26/2021 at 3:33 pm This is not about mortgage insurance. Recently, insurance companies have been increasing the cost of insurance policies for apartment insurance by significantly increasing the share of insurance of structural elements. They even highlight insurance of structural elements as a separate line. Do I need to insure structural elements for the cost of the apartment? How often do explosions occur, i.e. destruction of an apartment structure in Moscow? Or is this just a marketing ploy on the part of insurance companies? Thank you!
   Reply ↓ Anna Popovich
   10.26.2021 at 18:00

   Dear Larisa Vasilievna, the structural elements of the apartment are load-bearing and non-load-bearing walls, floors (floor/ceiling), partitions, window units (including glazing), doors (excluding interior doors), as well as balconies and loggias (walls, floor and ceiling (top) ) floors, including glazing), excluding engineering equipment and interior decoration available at the time of conclusion of the contract. An insured event means a gas explosion in an apartment or with neighbors, resulting in damage to the collateral property. Fire, flooding or fall of a construction crane onto a residential building. And these are just a few options for damage to collateral, from the number of problems that regularly occur on the territory of the Russian Federation. Insurance companies have statistics on this category of insurance cases. In addition, insurance of collateral (structure) for a mortgage is mandatory in accordance with Federal Law No. 102-FZ “On mortgage (real estate pledge)”.

   Reply ↓

Extension of mortgage insurance for DOM.RF bank

It is important to renew your insurance on time so that the bank does not increase the interest rate. You need to take out a new insurance two weeks before the end of the old contract.

Make calculations in advance and find out the cost of the policy from different insurance companies. Some companies may provide additional discounts for switching from another insurance company.

Otherwise, the renewal of the insurance contract follows the same procedure as the registration of new insurance. When prolonging, in most cases it is not necessary to provide a new package of documents.

About insurance cases

Structural insurance involves a list of insured events, upon the occurrence of which the owner or the bank as a beneficiary receive compensation from the insurance company.

There is no single list; each company creates its own list. It is approximately identical everywhere, but there may still be some differences. As an example, let’s look at the insurance of the structure of an apartment or house, which is relevant for Sberbank mortgage borrowers. The service contract specifies the following insured events:

• fire. We are talking about losses caused by the fire itself and from the fire extinguishing process;
• lightning strike - a direct lightning discharge that passed through the structural elements of the insured property and damaged them;
• household gas explosion both in the apartment/house and among neighbors;
• complete or partial loss of property due to a natural disaster. This could be an earthquake, flood, strong wind, hail, landslide, landslide, volcanic eruption, hurricane, tsunami, mudflow, flooding, avalanche, subsidence, tornado, typhoon;
• explosion of gas pipelines, cars, boilers, etc.;
• destruction or loss of property due to a break in sewerage or heating systems;
• illegal actions of third parties;
• a fall on the subject of insurance of various objects, a collision with a vehicle.

For each individual insured event, a full explanation is given, specified in the service agreement. And in each individual case we can talk about either a complete loss of property or a partial loss. For example, if a burglar knocked down the front door, there would clearly be a partial loss of property, not a complete loss. And if the apartment was severely damaged by the explosion, we will talk about a complete loss.

If the incident occurred due to the fault of the policyholder himself, his losses will not be covered. For example, if he was grilling kebabs in an undesignated place and there was a fire.

How to submit mortgage insurance to DOM.RF Bank

After registration, the finished document is sent to your email. Then you can send the policy to DOM.RF Bank in two ways:

1. Send the policy to the bank's email Don't forget to indicate the subject of the letter "Insurance".
2. The policy can also be transferred through partner branches.

Please note that after sending the insurance, you must contact the manager and check whether the documents have arrived. If the insurance is not sent to the bank on time, the interest rate may increase.