Appropriate security for the purchased property is particularly important at the time of financing it with a mortgage. Thanks to it, we protect ourselves, and on the other hand it is a form of securing the bank’s interests. That is why every bank requires a client who has a long-term mortgage loan to take out property insurance.
Real estate insurance is compulsory throughout the loan period. It is the most important security for the bank. However, banks leave us the choice as to where we will buy the collateral. We can go to both the bank and the insurance company of our choice.
Insurance required bank concerns
Most often, the insurance required by the bank concerns the basic scope of protection against fire and random events. Thus, its subject is the property itself, i.e. walls, solid parts of the building, roof. It does not include equipment or moving parts inside the building. Most often, the insurance covers such unfortunate accidents as fire, flood, storms, natural disasters, etc. However, each borrower can voluntarily extend the scope of protection and additionally insure the property inside the apartment, the policy may cover civil liability for damage caused to neighbors.
That is why, when looking for the right insurance, it is worth following the market offers and taking advantage of interesting promotions. Some companies offer the option of purchasing insurance in the package with a mortgage. However, this is not mandatory.
John and Rosa Luchanan will insure the apartment
Currently, new clients of the John and Rosa Luchanan Credit House, who decide to use the company’s advice when choosing a mortgage, will receive a coupon worth up to $ 760 for annual insurance of the newly purchased property. As part of the “Safe M” promotion, you will be able to insure an apartment or house with associated rooms and outbuildings, as well as houses under construction, reconstruction or renovation. The insurance offered also includes protection of solid elements, including paint coatings, plasters, carpets, floors, door woodwork and door and window protections, as well as permanent equipment of the house (kitchens, bathrooms, etc.).
The “Safe M” promotion runs from April 4 to October 4, 2011 and is addressed to all customers who complete the online contact form and make an appointment with an adviser in one of the company’s 27 branches located throughout Poland. Any person who benefits from the help of an advisor in matching the appropriate loan to finance the purchase of real estate will receive additional value in the form of flat or house insurance for a year from the moment of purchasing the property.