|
|
|
Property Investment Insurance Talk |
Investment insurance companies do not guarantee the safety of the
investment
property. In case of the invalidation of the purchase and
sale contract the investor may recover compensation only within the sum
of credit indebtedness.
Property investment is often considered by investors as very reliable
and lucrative type of investment. So one of the most important
tendencies of insurance companies' activities is a property investment insurance. It
is especially relevant for those insurance companies dealing with
long-term insurance.
Unlike property insurance, investment insurance is a protection of
property interests of legal subjects of investment from the risks of
devaluation, forfeit, or destruction of investment.
If you are going to invest your money in property, you should analyze
all the necessary factors to make the best property investment
insurance contract. First, you should understand what to insure. If
your money are invested in the construction of your future apartment,
real estate doesn't de facto exist, and your ownership of
this real estate hasn't de jure come into force. You risk losing your
money in such a case. Under such circumstances, you should insure
financial risks connected with the investment of your money in your new
apartment. Also it is necassary to make an insurance contract against
all possible risks. Under such contract, the insured shall get the
compensation for damages in any case, by any reason which doesn't
depend on the insured. You should remember that the sum
insured can't exceed the real price of the property.If the sum insured
specified by the insured exceeds the real price of property, the
insurance contract will be worthless in that part of the sum insured
which exceeds the real price. That's why, despite that fact that the
price of the apartment is increasing as the building is constructing,
it is impossible to augment the sum insured. This is a peculiarity of
this type of insurance.
Besides above-stated, you should determine the terms of insurance.
Futher, you should find out whether the price of the insurance policy
includes legal services within the whole term of the insurance
contract. If the insurer accepts such a duty, it is very important:
first, he is an expert, second, you'll be guaranteed a reliable and
free lawyer. |
|
|
|
|
|
|