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Mortgage insurance in Sberbank. What is real estate mortgage insurance? What to do if the insurance is expired

When registering with Sberbank on the security of real estate, one of the conditions is the insurance of the object. This is necessary so that even if the property is destroyed, the bank can receive payment from the insurance company and close the loan. For the debtor, this is also important, because otherwise, if one object is lost, the bank will require either early repayment of the loan or the provision of another adequate collateral.

More about mortgage insurance at Sberbank

In 2018, insurance remains one of the main problems when applying for a loan. The bank offers a rather limited choice of insurance companies, not all of which meet the requirements of the client. Of course, a financial institution does not have the right to insist or even refuse a loan to a client who decides to choose another company, but it can raise the interest rate or include unfavorable conditions in the contract.

As a result, it is easiest to agree to the offer of Sberbank, since in the end, an attempt to save a little on the amount of the payment will result in a significant overpayment on the loan.

Types of insurance

Allocate three main types of insurance, which are usually required from the client when applying for a mortgage loan: insurance of property rights, life and health of the client, as well as apartment insurance. Usually two of them are required, although much depends on the situation. For example, a client may have rights to real estate, but he will be able to fully realize them only after receiving a loan.

In this case, you will first need to insure the rights and life / health of the borrower, and then, after completing all the necessary documents for the apartment, and her too.

Sberbank apartment insurance

Offer for apartment insurance from Sberbank beneficial for many reasons. It’s worth starting with the fact that the cost of an insurance policy is directly related to the balance of debt, and not to the value of real estate. That is, with each year of debt servicing, you will have to pay less and less.

The process itself takes a matter of minutes. The client does not need to go anywhere, the policy comes to e-mail and is valid for exactly 1 year from the date of issue. Moreover, the insurance company will independently notify the bank about the concluded agreement, which minimizes the need to communicate with the financial institution.

All partitions, ceilings, walls, windows, doors, foundations and roofs are subject to insurance. The last two options are relevant for private real estate. In fact, the insurance company only protects the “box”, but not the apartment itself inside. However, for everyone, Sberbank offers to issue an additional Home Protection policy, which already applies specifically to the interior, equipment, appliances and furniture. The insurance company will make payments to the bank and / or the client in case of death, loss or damage to property from:

  • structural defects;
  • collapse of trees and their parts, power lines, billboards and other similar objects;
  • actions of third parties committed without the knowledge/permission of the owner;
  • exposure to water in any of its manifestations;
  • explosion of gas or steam boilers, as well as any related systems;
  • natural Disasters;
  • ship bulk and transport collision;
  • crashes of aircraft or their parts/cargoes;
  • fire.


Life and health insurance

Life and health insurance of the debtor is another measure to protect the bank's client and, along the way, a guarantee of payment of the remaining amount of the debt. According to the terms of the contract, death and disability of 1-2 groups are subject to insurance. In both cases, the insurance company pays the balance or most of the debt. The policy is valid for 1 year, as well as real estate insurance, which is quite convenient, since you can renew their validity at the same time and for as long as 12 you can not return to this issue. In some cases, the bank also requires co-borrowers or guarantors to be insured.

Property rights insurance

This type of insurance is better known as "Title Insurance". It implies a guarantee of preservation of property rights, regardless of a court decision or other factors. In case of loss of such property rights, the insurance company pays out an impressive amount. For example, a bank client had real estate, which he provided as collateral and insured the property rights to it. After some time, the borrower divorces and, by a court decision, the property goes to the ex-wife. In fact, the person has lost the right of ownership, after which the insurance company makes a payment.

How to get mortgage insurance at Sberbank?

For the convenience of the client, Sberbank offers to issue directly on the site. The same can be done in any branch, but the site is easier, faster, you do not need to go anywhere and stand in line.

What will be required

  • Information about the borrower.
  • Information about the object to be insured.
  • A card with enough money in the account to pay for the policy.

step by step

  1. Go to the Sberbank website.
  2. Go to the "Private Clients" section.
  3. Select the menu item "Insurance and pension programs".
  4. Go to the "Insurance Programs" section.
  5. Select the appropriate insurance option.
  6. Go to the website of the insurance company Sberbank. There is a special button for this.
  7. Fill in the data about the object of insurance or answer questions if a person is insured.
  8. Receive the prepared policy to the client's email address.
  9. Pay for the services of the insurance company.

Insurance in Sberbank Online

All the same can be done through the Sberbank Online service. The only difference in this case is that it will be much easier to pay, because the client will already be in the bank's payment service.

Insurance companies accredited by Sberbank

The list is regularly changed and updated, so the information may become outdated. The most up-to-date data can be found on the bank's website.


The cost of the insurance policy

For a bank client, the most important element of the policy is its price. In fact, insured events do not occur so often, but you will have to pay regularly. At least until the entire amount of the debt to the financial institution is repaid.

How to calculate?

The sum insured is calculated automatically on the website of the insurance company. The final amount can vary greatly, depending on the conditions chosen and the characteristics of a particular type of property.

Let us give an example of such a calculation based on a mortgage apartment. Suppose that there is no tree in the floors, and the amount of debt to the bank is 2 million rubles. For a year, mortgage insurance will cost only 4.5 thousand rubles. If the debt is repaid to the level of 1 million rubles in a year, then the next policy, ceteris paribus, will cost 2,250.00 rubles.

To calculate life insurance, you will have to answer several questions that will help the company determine the amount of the policy. For an absolutely healthy person aged 30 who plans to take out a loan in the amount of 2 million rubles, insurance will cost 7,760 (for men) or 6,740 (for women) rubles. The older, the more expensive. The same applies to diseases. The more there are, the more you have to pay.

Title insurance also depends on the amount of debt and only in rare cases the payment exceeds 1%. For example, if a client plans to take out a loan for the same 2 million rubles, then he will have to pay 20 thousand rubles. The next year - less, depending on the balance of the debt.

Is insurance mandatory at Sberbank?

It is necessary to insure collateral property in accordance with Article 31 of Law 102-FZ. But this applies only to real estate, transport or any other objects that are registered as collateral.

At the same time, the bank is not entitled to demand life or title insurance from the client. This is already a voluntary matter.

Is it possible to refuse?

Based on the foregoing, this question can be answered in two ways: no and yes. No, you cannot opt ​​out of collateral insurance. This is a legal requirement that should not be ignored. But you can opt out of life insurance. But is it necessary? The bank usually provides specific clauses regarding insurance in the loan agreement. For example, if the client refuses to insure life, the interest rate automatically increases by 1%.

And now let's count. A loan was taken for housing in the amount of 2 million rubles at 10% per annum. If the client refuses to insure life in the amount of 7760 rubles, then the bank raises the loan rate to 11%. In the first case, you will have to pay approximately 16,000.00 rubles per month. In the second, in case of refusal of life insurance, 17,500.00 each. The difference for the year is 12 * 1.5 = 18 thousand rubles. This is more than 2 times more than the cost of a life insurance policy. So, it makes sense to agree with all the requirements of the bank, otherwise the overpayments can be much more than "savings".

Advantages and disadvantages of mortgage insurance in Sberbank

The advantages of mortgage insurance are primarily that the client, in the event of loss of collateral or damage to it, will not be forced to pay both the debt and the restoration of the object. The insurance company will do everything for him. And given the fact that this is still a mandatory requirement of the law, there are still no alternative options here. Yes, in theory the client can refuse to renew the insurance for the next year. The bank can't force him to pay. But he has every right to demand immediate early repayment of all debts.

There is only one drawback - you have to pay the insurance company. And this will have to be done annually until the debt is repaid in full.

The question of determining the cost of insurance is of a private nature, it may vary from client to client.

IMPORTANT! The price of property insurance is determined by the condition of the property and the value of the apartment. Age, gender, the presence of unhealthy inclinations, specialty, the state of human health, etc. are also taken into account.

The insurance will not be paid if the client hid information about serious illnesses (tuberculosis, oncology, HIV, etc.).

The death of drug addicts, mentally ill, intoxicated, clients with heart disease will not be an insured event.

The insurer will reject the payment in the following situations:

If the client himself refuses insurance, this will reduce the likelihood of acquiring a mortgage. If the application is approved, the person undertakes to make payments on time, even in the event of disability, illness, etc.

In the event of death, his debt is inherited. In order not to repay the loan, the heirs can refuse the inheritance. Inheritance rights will pass to subsequent generations. In the absence of heirs, the bank has the right to put the property up for auction.

When the loan is closed, the insurance is still valid, and the cost of the policy remains the same. Then the insurance payment is made not to the bank, but to the client.

What is the percentage of the mortgage amount?

The amount of insurance usually ranges from 0.18-0.32% to 1-1.5% of the debt.

IMPORTANT! Sberbank offers to issue an insurance document at the Sberbank Life Insurance company. A person will have to pay 1% of the loan amount.

Sberbank has various types of mortgage loans. Base rates apply only to human life insurance. Failure will increase the rate by 1%.

Calculation example for Sberbank

The insurance rate at Sberbank is 1% of the amount of debt.

In particular, housing was purchased for 3 million rubles, the entry fee was 1 million rubles, the cost of the policy is determined by the size of the debt, then the insurance will be 20,000 rubles.

The document is valid for 12 months. Then you should reissue the insurance document. For all persons, the conditions of insurance are identical. Benefits are not provided.

How much does insurance usually cost?

Apartments


Sberbank provides a program - "Mortgage Insurance Online".

The price of insurance is determined by the amount of debt based on a 1% tariff. You can register it through Sberbank Life Insurance.

The policy will be sent by e-mail, and a copy of it will be sent to the bank.

Insured:

  • parts of the structure (walls, ceilings, partitions, windows, entrance doors, roof, foundation);
  • property in general from fire, lightning strike, gas explosion, car collision, natural disasters, illegal acts of unauthorized people, falling trees, poles, billboards.

life

Object of insurance

Property interests of the Insured related to the loss or damage to the insured real estate (apartments, houses, cottages, garden houses, land plots).

Insured events:

Loss or damage to real estate as a result of:

  • fire;
  • explosion;
  • flooding;
  • natural Disasters;
  • theft;
  • robbery;
  • robbery;
  • intentional destruction of property by third parties;
  • other circumstances.

Sum insured

The sum insured is determined by one of two options:

  • in the amount of the actual value of real estate (the sum insured remains unchanged throughout the entire term of the Insurance Contract);
  • in the amount of the balance of the debt on the loan (the sum insured is reduced annually in accordance with the decrease in the balance of debt on the loan).

Deadline for payment of the sum insured

The amount of insurance payment

In the amount of actual costs for the restoration of damaged (lost) property, taking into account wear and tear on replaced parts and materials, but not more than the sum insured.

auto insurance

Object of insurance

  • Property interests of the Insured (the Beneficiary) associated with the possession, use, disposal of the vehicle, as well as additional equipment installed on it.
  • Property interests of the Policyholder (the Beneficiary) related to the possession, use, disposal of the Vehicle and additional equipment installed on it due to their damage or loss (destruction, loss), including before the Vehicle is registered.

Insured events:

Destruction or damage to the vehicle as a result of:

  • fire;
  • explosion;
  • collision with another vehicle;
  • collision (impact) on stationary or moving objects (structures, obstacles, animals);
  • overturning;
  • falling of any objects, including trees, snow and ice;
  • ejection of gravel, stones and other objects from under the wheels of vehicles;
  • falling into water;
  • failure under the ice;
  • natural Disasters;
  • illegal actions of third parties;
  • theft of the vehicle (loss as a result of theft, robbery, robbery).

Sum insured

Not more than the actual (market) value of the vehicle; not less than the balance of the debt on the loan.

Deadline for payment of the sum insured

Within 5 working days from the date of receipt of all documents necessary for making a decision.

The amount of the insurance premium

In accordance with the tariffs of the insurance company.
Detailed information can be obtained at any office of Sberbank.

When applying for a mortgage, all borrowers are faced with the need to take out insurance. For most of them, this position of the bank does not cause much enthusiasm: the additional costs of obtaining an insurance policy can significantly increase the financial burden on the family budget. In this case, you will have to pay every year, until the final repayment of the loan. Not surprisingly, many borrowers are trying to save money on this. Therefore, they are interested in what needs to be insured with a mortgage at Sberbank without fail, and what can be refused? In order to secure borrowed funds, banks often impose a large number of insurance products. And clients are afraid that by their refusal they will harm when the lender makes a decision on issuing a loan.

Features and the need for insurance when obtaining housing loans

The issue of insurance when issuing a loan for the purchase of housing is regulated by the Law of the Russian Federation "On Mortgage". According to its provisions, all aspects of the relationship between the credit institution and the borrower are provided for. This also applies to the purchase of insurance policies. Paragraph 31 obliges the home buyer to insure it in favor of the bank that issued the mortgage without fail. At the same time, minimal risks are taken into account - damage or loss of real estate. Using the legislative right, all banking institutions, including Sberbank, require borrowers to have compulsory insurance of the purchased apartment or house, which act as collateral for the loan. The amount of insurance must match the amount of the loan.

According to the same law, all other types of insurance policies when making a mortgage agreement are purchased only on a voluntary basis and on the personal initiative of the client.

Types of mortgage insurance

When a potential borrower refuses to insure a mortgaged apartment in Sberbank, the bank may, on quite legal grounds, refuse to sign a mortgage agreement. At the same time, the lender pursues its own commercial goal and seeks to minimize its own risks as much as possible: housing loans are among the loan programs with the lowest interest rates and are concluded for a long period. Therefore, banking specialists insist on additional insurance. There are 3 main types of mortgage insurance:

  • collateral property,
  • life and health of the title borrower,
  • title (risk of loss of ownership of housing).

Most often, banks offer comprehensive insurance on three points at once. A distinctive advantage of Sberbank is that it is the only bank where title insurance is not a mandatory condition.

But at the same time, many clients are aware that in today's real estate market, double deals are very common. This is especially true for the secondary market. Title insurance, which is concluded for only 3 years, can protect against fraud and accidental errors when drawing up documents for an apartment. 3 years is the statute of limitations for which you can legally challenge the transaction.

Borrowers are more willing to purchase personal insurance. And this is due not only to the fact that the bank reduces the interest rate for this option. If a mortgage is taken for 30 years, then no sane person guarantees that during this time he will not have health problems.

It follows from this that insurance is of mutual benefit, both for the banking institution and for its client.

life

By law, personal insurance is not mandatory for the title borrower. But customers are most interested in the point where, for the lack of such insurance, the bank increases the interest rate by 1%. This slight reduction will save you significant money over the long term.

The insurance of the title borrower covers a certain list of insurance risks: death, disability, injuries and serious illnesses that lead to long-term disability. If, upon the occurrence of the listed risks, the borrower has problems repaying the loan, the insurance company will pay the lender the resulting debt.

By purchasing personal insurance, the client himself determines the sum insured. Its size directly depends on many factors: gender, age, place of work, health status and much more. The size of the mortgage also affects the amount of contributions.

Since Sberbank provides for a reduction in the rate subject to personal insurance, it can be revised if there are delays in paying for insurance. If the client does not renew the annual insurance, the bank obliges him to repay the loan taken ahead of schedule. In case of non-payment of the debt, the creditor has the right to impose sanctions on the mortgaged apartment.

Apartments

It will not be possible to avoid insurance for the acquired property, since this is a legal requirement of the bank, confirmed by Russian law. The client will have to insure the apartment with a mortgage loan at Sberbank for two risks at once - from damage to property and its loss. The maximum insurance payments after the occurrence of an insured event are equated to the amount of the loan amount. This means that in such a situation, the IC pays the bank the entire amount necessary to repay the loan.

When signing a loan agreement, bank managers actively campaign to use the services of their own insurance company Sberbank-Insurance, but the client himself has the right to choose an insurance company. The Bank cooperates with many insurance companies, among them there are many leaders in this field. The list of accredited companies can be found on the website of the financial institution.


What is more profitable to insure with a mortgage at Sberbank

Customers are most interested in how to save money when applying for insurance. In the mortgage agreement, a separate clause states that the borrower has the right to insure in any company accredited by Sberbank. This right must be used, and among all insurers, choose the one where the tariffs are the least. Some SCs offer packages with various services. With comprehensive insurance, you can get a discount on a larger number of risks, and separately it would cost much more.

Choosing the option of mortgage lending, it is necessary to study the question of how to insure the purchased housing. How much does Sberbank mortgage insurance cost, is it mandatory, what does it affect and what are the conditions for its registration? And also, is it possible to issue a refund - you can learn about this from the article.


Many are interested in the answer to the question: is it necessary to obtain insurance for housing loans?

Today, only mortgaged housing is subject to compulsory insurance. These are the conditions of any financial institutions, confirmed by the law of the Russian Federation. This is primarily due to the need to reduce risks.

In case of damage or complete loss of property, the borrower is entitled to an insurance payment in the amount specified in the contract, which is redirected to the bank to pay off his debt. Therefore, the policy is in favor of the bank.

Each bank cooperates with a certain insurance company, and Sberbank has its own subsidiary - Sberbank Insurance.

List of insurance risks

Apartment insurance for a housing loan at Sberbank includes a standard list of risks that resulted in complete destruction or harm:

  1. intentional damage or destruction of property by outsiders;
  2. theft, robbery;
  3. flooding;
  4. fire, explosion;
  5. natural disasters;

Approximate list of risks in housing lending

The amount of coverage is determined by the client according to one of the options:

  • The sum insured is equal to the price of the property. The value is determined on the basis of expert reports and remains constant for the entire period of validity.
  • The amount is equal to the balance of the debt. As payments are made, its value decreases.

In this case, if one of these risks occurs, the insurer pays an amount equivalent to the amount of losses (damage) within the total amount, without exceeding it.

How is the sum insured determined?

Since a housing loan is issued for several years, and sometimes for 20-30 years, a mortgage insurance policy at Sberbank is issued anew every year. This is due to the duration of the contract, which is equal to one year, after which it is subject to extension.


What percentage of the mortgage loan will have to pay for insurance?

The amount of contributions is determined individually, but does not exceed 1% of the loan amount per year.

Voluntary life insurance with a mortgage at Sberbank

Unlike property security, personal insurance when applying for a housing loan occurs on a voluntary basis. Of course, it is more profitable for an institution to deal with an insured borrower, as this guarantees him the repayment of the debt under any circumstances. For the client, this is an opportunity to protect loved ones from their obligations if he himself has lost his previous financial condition due to an unforeseen event.

Life insurance risks

The Sberbank life insurance policy includes the following risks:

  • death;
  • disability, disability, serious illness;
  • short-term loss of working capacity due to illness or accident;
  • involuntary job loss.

You can choose a set of risks at your discretion or take a standard program. They differ in cost and conditions.


Is it obligatory for the borrower to insure life and health during mortgage lending?

Each situation has its own refund policy. So, in the event of death or disability, the UK fully repays the borrower's debts. If the time period is short-term and the client has certificates confirming his condition (for example, sick leave), the insurer makes the amount of his monthly payments to the bank during this time.

Benefits of concluding a contract

In order to provoke borrowers to take out a voluntary policy, they reduce the percentage for insurance on a mortgage loan at Sberbank. The client receives a rate of 1% less than with similar parameters without life support. With large loan amounts, this opportunity is very beneficial and also provides a guarantee for repayment of the debt if an unforeseen situation occurs with the client, which is quite possible due to the long terms of the housing loan.

Thus, the client will need to conclude at least one insurance contract, and therefore it is worth knowing about such an opportunity as to return the funds spent after paying off the debt. Borrowers are rarely aware of it, and employees are deliberately silent, but the client has the right to receive paid insurance premiums for a period exceeding the mortgage period.


Reimbursement of the sum insured - when possible

Yes, certain rules apply:

  1. After repayment of the entire amount, the term of the insurance contract is greater than or equal to 11 months - the borrower receives all the money paid earlier.
  2. Less than or half of the term has passed - the client is entitled to a payment within 50% of the funds spent.
  3. More than half of the validity period has passed - more often they refuse to pay. If you want to return the money spent, you will need to go to court. It is worth considering in advance whether such an action will pay off. The company will provide a list of costs where the client's funds were spent, and the balance can be very small.

The return process is accompanied by the submission of an application and is confirmed by a bank statement on the absence of debt.

Documents for issuing a return

Video - Everything about mortgage insurance

The video will inform you whether it is possible to do without life and apartment insurance when applying for a housing loan, and which options are best for the borrower.

Conclusion

It is impossible to avoid insurance of the property being financed: this procedure is enshrined in legislation. But as far as personal insurance is concerned, the borrower has the right to refuse it. But first, it is worth weighing all the possible risks associated with this decision.