Currently, the number of apartments for rent has increased significantly. Moreover, every owner knows that renting a home involves a certain risk that is associated with damage to property. This is due to the fact that the tenant does not treat other people’s property as carefully as his own. That is why fires or floods occur so often in rented apartments. After that, the owners themselves have to repair the apartment, and this is a significant financial loss. The only way out of this situation is apartment insurance. Consider the subtleties of such a procedure.
Insuranceis made regardless of who will live in it: the owner or the tenant. The living space can be insured against various troubles, both from the more common ones – fire, pipe breakage or robbery, and from rare for our country – hurricane, flood or other natural disasters. In fact, the list of risks is very large, but, as a rule, each insurance company has standard packages that include a list of certain risks.
In this case, the owner of the apartment only needs to choose what suits him best. Thus, owners of economy-class apartments most often choose the cheapest insurance package, while owners of elite and business-class apartments prefer some of the most expensive packages. Moreover, the latter most often choose to insure not only the apartment, but also the property in it..
According to experts, any apartments need to be insured, regardless of their purpose and cost. This is due to the fact that a fire can happen in every apartment, and theft is a fairly common phenomenon that can affect anyone, regardless of the presence of guards or strong locks. Undoubtedly, if we compare the cost of elite and ordinary housing, then in the event of an insured event, the damage will be different, but the funds paid subsequently will not hurt anyone.
Consider now who benefits from insurance? If the owner is going to live in the apartment, then insurance is certainly beneficial to him. But if the apartment is supposed to be rented out, then it can be beneficial for the tenant as well. The fact is that most owners include in the lease agreement liability clause. It is much more profitable for the tenant that the insurance company pays the damage, and not himself.
However, the most interesting question is: what to insure? If the owner is going to live in the apartment himself, then no problems arise, you can insure anything, even decorative elements or furniture. For those apartments that are supposed to be rented, this is impossible. Even if the tenant broke all the windows in the apartment or cut the upholstery of a luxury sofa with a knife, no insurance company will compensate for the damage. This situation is due to the fact that the owner himself allowed unauthorized persons into the apartment, respectively, he himself is responsible for their actions.
The cost of insurance is influenced by many factors: the condition of the house, its location, number of storeys, the presence or absence of communications, for example, electricity or gas, the presence of security in the house or alarm in the apartment. Also, the cost depends on what list of risks will be included in the insurance policy..
At the conclusion insurance policy it is worth paying attention to the assessment of the apartment itself and the property located in it. Such an assessment is carried out by the insurance company, but it does not always suit the owner of the apartment. This is due to the fact that the cost may be underestimated, then, in the event of an insured event, the payment may not cover all the costs incurred by the owner.
In such a situation, you can contact an independent appraiser. But you can immediately count on the fact that determining the real cost of an apartment and property can be significantly delayed. Each of the parties will try to change the value – the owner upwards, and the insurance company downwards.
In conclusion, we can say that insurance is still necessary if you think about tomorrow.