Mortgage insurance in Ingosstrakh: what is compensation for damage to an apartment and what rates exist, how can it be issued and what is a late payment?

Advantages and disadvantages

The main advantages of mortgage insurance with Ingosstrakh include the following:

A wide range of banks with which Ingosstrakh cooperates.
Relatively small insurance premium.
Ease of purchasing and renewing mortgage insurance (all done online).
When an insured event occurs, the borrower simply needs to issue the required payment.
A large number of Ingosstrakh branches throughout Russia, which makes the services of this insurer more accessible to citizens living in remote regions of the country.

At the same time, this insurance company is not without some disadvantages that clients encounter when applying for mortgage insurance. This includes the following:

sometimes borrowers have to wait a long time for payment of the required compensation for an insured event;
For some banks, not all insurance options are available (for example, if a client has taken out a mortgage with Sberbank, he will not be able to insure his title with Ingosstrakh).

Express Help program

The company provides monetary compensation in case of bodily injury, permanent loss of performance or death of the insured person in the event of an accident.

Pros of this program:

worldwide protection;
availability of an extended package of insurance services;
execution of the contract only using a passport;
uniform amount of insured amount for all risks;
no need to undergo a medical examination.

Insurance services are available to citizens aged from 1 year to 65 years.

Cost and tariffs

It should be noted right away that it is impossible to indicate the average cost of mortgage insurance at Ingosstrakh, since its size depends on a large number of factors. Thus, in each individual case, the price of insurance will differ significantly.

In general, the insurer’s website states that the average insurance rate varies from 0.6 to 1%. Moreover, if we are talking about comprehensive mortgage insurance, then the final price of the policy consists of the tariffs in force for each type of risk.

For clients of Sberbank PJSC who have obtained mortgage insurance online, a 15% discount is provided.

What does the price depend on?

The price of mortgage insurance at Ingosstrakh is influenced by the following factors:

Requirements imposed by the creditor bank on the amount of insurance coverage.
Mortgage loan size.
Insurance option (comprehensive or only individual risks).
Characteristics of the collateral (area, location, general condition of the apartment, etc.).
The number of past mortgage transactions (this factor is taken into account when calculating the price of title insurance).
Characteristics of the borrower himself, namely: age, gender, health status, past illnesses, etc. All this information is used to calculate the price for life and health insurance for the client.

How to get apartment insurance if you have a loan?

The procedure for obtaining mortgage insurance at Ingosstrakh is as follows:

It is necessary to clarify with the creditor bank the basic requirements for insurance coverage.
Fill out an application for insurance services and send it to one of the Ingosstrakh branches.
Provide a full package of documents necessary for obtaining mortgage insurance.
Next, the client will be asked to familiarize himself with the terms of the contract and the insurance rules in force at Ingosstrakh, and will also be presented with a preliminary calculation of the insurance premium.
The final stage is signing the insurance agreement, paying the insurance fee and receiving the completed policy. In the future, it will need to be provided to the creditor bank.

What documents will be required?

The entire set of papers that may be required when applying for mortgage insurance with Ingosstrakh can be divided into 4 groups:

Are common – these are the documents that the borrower will need regardless of the chosen insurance option. This includes the following (clause 3.3.1, clause 3.3 of section 3 of the Order of JSC Ingosstrakh dated June 22, 2018 No. 199):
ID card (passport);
migration card;
a document confirming the legality of stay on the territory of the Russian Federation (if a foreign person acts as the policyholder);
certificate of registration with the Federal Tax Service;
mortgage agreement concluded with a bank, etc.
When insuring the collateral – in this case you will additionally need:
an extract from the Unified State Register of Real Estate on the transfer of ownership of an apartment with an encumbrance;
paper from BTI, etc.
When taking out title insurance – in addition to the general list of papers, the following will also be added here:
identification cards of all persons entitled to claim the collateral;
permission from the guardianship and trusteeship authorities (in some cases if there is a minor in the family), etc.
In case of life and health insurance of the borrower – here you will need documents that will allow the insurer to assess the client’s health status and, based on this, calculate the insurance premium. Such papers include:
certificates from dispensaries (oncological, drug treatment, etc.) with a note indicating whether the client is registered or not;
results of various medical studies and tests, etc.

The exact list of documents required in a particular case is usually announced when submitting an application.

Application options

Currently, Ingosstrakh clients can apply for a mortgage loan in one of the following ways:

By personal visit, after printing and filling out the appropriate application form posted on the insurance company’s website.
Online, by filling out the form located in the “Send an application” section (tab on the website: “Types of insurance” - “Mortgage”).

Ingosstrakh management approved in advance uniform application forms for the provision of services in the field of mortgage insurance. All of them are posted on the insurer’s website, from where they can be easily downloaded, filled out and printed. Thus, the content of the application for comprehensive mortgage insurance includes the following points:

a list of risks that the borrower wishes to insure;
personal data of the policyholder;
information about the client’s place of work;
the main provisions of the mortgage agreement concluded with the bank;
subject of mortgage;
information about the health status of the policyholder;
Additional Information.

We do not recommend completing the documents yourself. Save time - contact our lawyers by phone:

+7 (499) 938-90-71Moscow

Online mortgage insurance at VSK

VSK company is one of the leaders in mortgage insurance on the Russian market. You can apply for life and health insurance here online under the Sberbank PJSC program, and other types of mortgage insurance by visiting the company’s office.

Recommended article: Mortgage for a garage, parking space or parking in 2020

Online insurance can be completed at any time of the day, without leaving your home. This feature greatly simplifies working with the insurance company and saves time.

How to find a cost calculator

Calculating mortgage insurance using an online calculator is a simple and quick way to obtain all the necessary information about the policy. The procedure takes place in a few simple steps, and in order to open the calculator, follow the following recommendations:

Go to the VSK-shop company website - https://shop.vsk.ru.
Open the Mortgage section and then Buy online.
A calculator interface will open in front of you, where you need to enter data to calculate the insurance.

What can you calculate mortgage insurance for online at VSK

You can calculate the policy only under the Protected Borrower program. This is a special program from Sberbank PJSC for health and life insurance of the borrower.

Title and structural insurance can only be calculated at the VSK office during a personal visit.

What does each insurance at VSK provide?

Constructive. A mandatory policy when obtaining a mortgage, which is issued at a branch of the VSK insurance company. Guarantees the return of funds to the bank in the following insured events:

fire, flood, destruction of real estate due to the actions of intruders;
earthquakes, hurricanes and other natural disasters that caused damage to the structure of the house;
destruction due to falling flying objects, collisions and explosions.

When insuring a mortgaged property, the policy includes:

load-bearing walls;
household appliances and interior items;
finishing facilities.

Title. This type of policy covers the possibility of loss of rights to real estate. Insured events:

the transaction is declared illegal;
claims have arisen from third parties on this property;
During the conclusion of the transaction, facts of fraud were revealed.

In this case, the VSK company returns the cost of the apartment to the bank, without the possibility of preserving the borrower's ownership rights to the property.

Life and health . Recommended type of insurance, which can be purchased online on the VSK website. The Protected Borrower program guarantees payment of compensation in the event of:

loss of ability to work;
receiving disability (first and second groups);
serious illness;
death.

Life insurance for a mortgage - calculate online using a calculator

To get an accurate calculation of the cost of the policy, you will need the following data:

loan amount or exact balance of loan debt;
date of birth, first and last name of the borrower;
expiration date of the previous insurance policy.

You can calculate the cost as follows:

Go to the calculator.
Fill in the blanks with your mortgage information and personal information.
Wait for the data to be calculated.
A window will appear in the right panel with the amount of insurance for your case.

You can proceed to issue a policy or change the data for a new calculation.

Factors influencing the cost of insurance

The calculation of a life and health policy always takes into account several characteristics of the borrower:

health conditions;
age;
floor.

The company takes into account all risks related to the client’s ability to work and announces the cost of the policy based on the number and severity of such risks.

Life insurance for mortgage – online calculation and registration

Having calculated the exact amount of the policy, you can immediately proceed to obtaining insurance, for this:

Click on the Get a policy button.
In the window that appears, fill in all empty fields.
Check the boxes to agree to the declaration statement.
Check that the entered data is correct and click on Pay for policy.
On the new page, enter your payment details and click on Pay again.

Within a few minutes after payment, you will be sent an electronic version of the insurance policy to the email address specified when applying for insurance.

VSK mortgage insurance online: how long the contract is valid

VSK life insurance for a mortgage is calculated online for a year, after which a contract is concluded with the possibility of annual renewal.

Note! Unlike compulsory property insurance, you may not renew the life and health policy for another period - it all depends on your wishes and the bank’s recommendations.

How to renew your insurance contract

To renew your policy, you will need to go through a process similar to paying for your insurance for the first time.

In this case, you indicate the validity period of the existing policy, and a new one will be issued on the next date after the expiration of the old policy.

Pros and cons of insurance at VSK

The VSK insurance company offers clients a high level of service, modern offers and services that greatly simplify the issuance of a policy. Advantages of obtaining insurance from VSK:

convenient website - in a couple of seconds you can find on the company’s website all the information you need on mortgage and other types of insurance;
professional consulting – if you have any questions during the process of applying for insurance, you can ask them to the manager by calling the hotline;
security – the company guarantees the safety of personal data, so your money and personal information will be protected from intruders;
speed of registration - you do not need to go to the office to receive a life and health policy, just fill out an application on the website and pay for the insurance. All this will take no more than 5 minutes;
favorable conditions when applying for a mortgage through Sberbank - you receive a preferential interest rate on the loan.

Flaws:

impossibility of obtaining all types of policies - you cannot obtain title and property insurance on the VSK website. These policies are only available at the company's office;
Suitable only for Sberbank borrowers.

The VSK company offers optimal prices for insurance, taking into account a number of factors when calculating the cost - this makes it one of the most attractive companies for life and health insurance.

Features and cost

The main features of insurance of the collateral (mortgage living space) are prescribed in the Order of SPAO Ingosstrakh dated June 22, 2018 No. 199. Thus, according to paragraphs. 2.1.2 of Section 2 of this regulatory document, insurance of an apartment means its protection against the risk of death and damage.

In this case, the following structural elements of real estate are covered by insurance:

load-bearing and non-load-bearing structures;
ceilings and partitions;
windows with glass;
doors (excluding interior doors);
balconies and loggias.

For a fee, the borrower can also insure the interior decoration of the apartment and the engineering equipment in it. Regarding the cost of insuring an apartment with Ingosstrakh, there is no single amount. The specific price of this service is determined individually for each client.

When is a payment considered late?

According to the rules in force in Ingosstrakh, insurance payment will be considered late in the following cases:

the next insurance premium was not received by the date established in the contract;
there was a delay in payment for a period of more than 90 days (unless otherwise specified in the contract).

In case of delay, the insurer has the right to take the following actions:

Terminate the contract with the policyholder. In this case, the latter will still have to make the payment that he is overdue.
Conclude an additional agreement with the borrower, under which the deadline for paying the next installment will be postponed by 60 days.

For what period is the contract concluded?

An insurance contract with Ingosstrakh can be concluded for one year or for the entire period during which the policyholder must repay the loan to the bank. In the case of a mortgage, the second option is the most common.

If the mortgage insurance agreement was concluded for the entire mortgage payment period, it will need to be renewed annually. You can do this in several ways:

by personal visit to an Ingosstrakh branch;
online on the insurance company's website.

You will find all the important information on how to obtain mortgage insurance in various insurance companies on the pages of our website. We will tell you how to do this in such insurance companies as Rosgosstrakh, RESO-Garantiya, AlfaStrakhovanie OJSC and SOGAZ JSC.

Documents for purchasing a policy at Ingosstrakh

In order to purchase a policy that protects a citizen’s home and property, you will need to provide a list of documents:

Identity card of the owner or beneficiary;
Documents certifying the right of ownership of a residential property;
Contract of sale;
Extract from the Unified State Register of Real Estate.

In some cases, an insurance agent's opinion on the condition of the property may be required. An inventory containing the number of valuable things in the home is also attached.

Home insurance will allow a person to cover losses caused by various situations. Taking out an insurance policy is a modern way to protect your home and the property in it.

How to pay for mortgage insurance?

The first payment for mortgage insurance must be made within 5 days from the date of signing the contract with the insurance company. In this case, the next installments must be made before the start of the next insurance period (usually a specific date is specified in the contract).

There are several ways to pay for mortgage insurance at Ingosstrakh:

online on the insurer's website;
at a branch of any bank;
through payment systems (for example, Western Union);
at one of the Ingosstrakh cash desks.

Ingosstrakh clients can take out both insurance for certain types of risks and comprehensive mortgage insurance, which includes protection of the collateral, legal title, as well as the life and health of the borrower.

Why do you need mortgage insurance?

When concluding a mortgage lending agreement, each party bears certain financial risks that can cause damage to both the borrower and the lender. Mortgage insurance is a comprehensive program, the key task of which is to compensate for losses in the event of the borrower’s loss of the ability to bear its loan obligations.

An insurance contract is a document with legal force, according to which the bank can claim full compensation for losses in the event of insolvency of the borrower. As for the borrower, taking out insurance provides the opportunity to cover risks such as damage to property, loss of ownership, loss of work, and disability.