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Property insurance also includes real estate insurance (home insurance). It provides insurance compensation for damage caused to real estate for any reason and under any circumstances. This type of insurance is often also applied to household items, home appliances, other movable property located in the insured object.

Home insurance in the US is the second in terms of insurance premiums, second only to automobile insurance.

In the United States, insurance policies have a high degree of harmonization for insured risks. Across the country, only seven major types of policies are used. From these standard tools, individual homeowner insurance coverage is collected. Common additional conditions put forward by the policyholder are usually the requirement of accounting for inflation, giving a slight increase in the cost of the policy, as well as a deductible, that is, the minimum level of loss that the policyholder covers on his own. The most common franchises are $ 250, $ 500, and $ 1,000. The franchise is very attractive to the insured, because it allows you to reduce the insurance rate by 20-30%.

In addition to the house, detached buildings can be insured: a garage, a swimming pool, etc., within 10% of the value of the house, and green spaces - up to 5% of the value of the house.

There is a separate type of property insurance designed for tenants. It provides compensation for damage caused to rental property and movable property. Thus, the tenant will not have to pay the landlord the damage caused by himself or another person during transportation, for example, to personal items (baggage during transportation), including jewelry, fur from deterioration when worn in a home environment and other circumstances .

Home insurance, which is used as a working room, for example, by small entrepreneurs or persons with free professions, is carried out at other rates and policies (Small Business Insurance). The reason for this is the greater saturation of such housing with social devices and appliances, as well as the more free third-party access to such office apartments. Insurance companies carefully monitor the nature of the use of insured housing, refusing to pay to ?violators of the convention?.

For many years, US citizens have developed a kind of reflex to home insurance. It is not only a matter of the impressive mass media of the spectacular pictures of the destruction done by typhoons and hurricanes. Almost all housing is purchased in installments, and one of the prerequisites for the loan is insurance of the purchased house or apartment. Abramov V.Yu. Insurance: theory and practice.



0 #1 Property insurance 2019-12-05 18:39
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