Habitation & Property Insurance
01.09.2006
It is known, that the flat bought on the bank or mortgage loan, is insured by the bank. But we never ask what exactly is insured and against what.
So, the building itself is insured against the fire, natural hazard (like hurricane, flood), earthquake, falling of airplanes and their parts, against the damage caused by strangers. Indoor plumping and sewage systems are insured against bursting of the pipes.
If you transfer this insurance from the bank to the private agency, for the same monthly premium you'll get the insurance of the built-in furniture, air conditioner, solar boiler and insurance of your neighbors' property against the damage you or your guests may cause, as well. You will also get a right to call any private plumber, which is very convenient on weekends and holidays.
In addition to the insurance of the building, there is the insurance of the home properties. It's not obligatory. But if you don't include this item into the policy, you won't get the compensation payment in the case of damage or total loss of your property. It may take you many years of inconvenience and deprivation to regain everything.
On the other hand, for a small monthly premium you can protect your property and place responsibility on the insurance agency. Property, as well as the building, is insured against the fire, nature disasters and earthquake, falling of the airplanes, damage and theft.
Windowpanes, mirrors, toilets and sinks are insured against breakage.
Jewelry is usually insured against «all risks». You'll get the compensation even if you lost your ring.
You may insure valuable musical instruments, antique things, works of art, carpets, furs, silver- and gold ware, collections of coins and stamps, cameras.
Pay attention! All your property should be assessed according to the current value of the goods of the same category. If you possess some rare or antique things, you'd better invite an appraiser (on the account of the agency).
Into the insurance policy, you may include some additional risks as well: «all risks» for the works of art on the period of exhibition, or for the camera abroad and others.
There is the possibility to insure your dog against the damage it may cause to other people.
Like in any other field of insurance, your personal participation is supposed
(something like 400-700 shekels) in a case of damage.
Israel's magazine of real estate
|
Print this Article
EMail this Article