Real Estate Credit Insurance

Mortgaged Real Estate insurance covers the costs of potential damages and destruction of the real estate of the borrower which is included in the loan provision.  As a result of Insurance, the loan is secured.

What risks are covered by property insurance:

  • Fire, explosion, thunder, falling aircraft;
  • Natural disasters;
  • Water damages;
  • A collision of vehicles;
  • Mechanical injuries of property;
  • Malicious actions.

Product Benefits

If a person has obtained a loan secured by real estate in the credit organization and came up with an insurance case that caused damage or destruction of it, the credit organization remains at risk, for which it asks the borrower for the new provision. Insurance is used to restore the property or pay its cost to the borrower. It's important to insure a real estate by its fair value and not in the amount of the loan in order to avoid partial financing of the property value from the insurance company.
In case of insurance accidents, the obligation of the borrower is performed by the insurance company. Thus, the credit organization insures the risk of a possible insolvency of the borrower and reduces the volume of problem loans.
As a result of the sale of property insurance attached to real estate loans, Credit organization has the opportunity to earn extra, non-operational income.

Insurance Process

At the meeting, we will discuss the company's needs for credit product insurance, general conditions, and advantages of the product.

Based on the current condition and future financial plan of an organization, we complete the product application.

According to the study of product demand, we develop the tender document, organize the tender, receive the insurance proposals

and process them.

According to the analysis of insurance proposals, we choose the best offers from the insurance company with you and are working on a

a contract under the agreed terms.

Upon activation of insurance services, we provide instructions for proper service management for an organization and ensure the

monitoring of insurance cases.

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