Real Estate Insurance
Property interests of the Insured in case of loss or damage to the insured real estate property (apartments, residential houses, country cottages, garden houses, land plots).
Loss or damage to real estate property as a result of:
- natural disasters;
- wilful destruction of property by third parties;
- other circumstances.
The sum insured may be calculated in two ways:
- The actual value of the real estate (the sum insured remains constant throughout the term of the insurance contract);
- The outstanding balance on the loan (the sum insured decreases each year in accordance with the reduction in the outstanding balance on the loan).
Payment Period for Sum Insured
Within five business days after receiving all documents required for the decision.
The Amount of the Claim
The actual cost of restoring the damaged (lost) property, adjusted for wear and tear of replaceable parts and materials but no more than the sum insured.