Extending the mortgage insurance policy - nuances. Sberbank lending conditions: is it necessary to insure an apartment with a mortgage every year? Sberbank mortgage insurance policy renewal

Welcome! Today we will look at insurance when applying for a Sberbank mortgage. Banks force them to insure real estate purchased on credit, and when applying for a mortgage, borrowers agree to additional costs for the purchase of property insurance policies. What other types of insurance will the lender require? We will discuss the terms of mortgage insurance at Sberbank later in this post.

When taking out housing loans, banks offer three types of insurance:

• real estate;
• life and health of the borrower;
• title.

Which of them are mandatory for Sberbank, and which can be refused? Let's consider the guarantees of each policy, their cost and the conditions of the insurers.

Insurance of collateral property

Insurance of the purchased property is issued for the period of mortgage lending. The conditions provide for compensation for property damage in the event of a fire, flood, house destruction, etc.

Mortgage insurance with Sberbank is mandatory; it guarantees the lender the good condition of the collateral until full repayment debt. The property is insured in favor of the bank in the event of insured event the beneficiary will be Sberbank.

For the borrower compulsory insurance entails additional expenses: every year you need to renew the contract, pay obligatory payments. A positive point is the insurer’s guarantee of reimbursement of unforeseen expenses. In other words, collateral insurance mortgage loan Sberbank withdraws everything possible risks damage and loss of property. Many people perceive the price of the policy as the price of their peace of mind: in the event of force majeure, you will not have to look for money to repair the premises, all expenses will be paid by the insurance company.

How much does such a guarantee cost, and is it possible to reduce the cost of Sberbank mortgage insurance? The price of the policy depends on a number of characteristics of the property. The technical condition, year of construction, number of storeys, and basic structural elements of the house are assessed. Therefore, the rates for insurance of an apartment in a new building and for secondary market may vary.

In 2019, tariffs are offered in the range from 0.12% to 0.25%. IN this year the conditions have not changed and it is easy to calculate that with a mortgage in the amount of 3 million rubles, the cost of the policy can range from 360 to 750 thousand rubles for the entire loan term. As you settle with the bank and the amount of the principal debt decreases, the annual cost of insurance will also decrease.

Insurers offer two models of mortgage loan insurance: based on the value of the property being purchased or based on the amount of the remaining debt to the bank.

As a rule, bank managers recommend insuring your mortgage loan through the partner company Sberbank-Insurance. This is convenient for the borrower because it is fast: insurance can be issued online, and a copy of the policy will be automatically sent to the bank. There is an approximate service calculator on our website.

If you compare the prices of insurers, each one has attractive offers. large company. By the way, Sberbank does not place restrictions on choice and offers a list of 25 accredited companies.

Life and health insurance

The borrower can insure life and health by taking out a loan from Sberbank at his own request, this is not prerequisites lending. But it is worth noting that the bank actively lobbies its interests by reducing interest on loans if you have a personal insurance policy.

The lender's interest is explained by additional guarantees: in the event of the borrower's illness or death, the insurer will repay the balance of the mortgage loan with Sberbank.

The policy includes such risks as: death, disability, serious disease, loss of work in case of illness or at the initiative of the employer. You can select risks at your own discretion, taking into account their set full cost insurance.

The price is influenced by the age, gender, profession and health status of the borrower at the time of applying for the loan. Insurers will ask for certificates from medical institutions and, in the presence of serious illnesses, will increase insurance rates. Hence the range of rates: health insurance today is offered from 0.3% to 1.5%. What percentage will be set for the borrower is decided individually.

For an approximate calculation, we use the previous example: with a mortgage amount of 3 million rubles, the cost of insurance will be from 9 to 45 thousand rubles per year.

You can calculate your insurance yourself by using the calculators on the company websites. But to obtain accurate data, you should contact the managers and provide all the necessary information. The final conditions depend on several factors, including the loyalty of the insurer: regular customers will provide discounts.

You need to calculate the savings on the rate for mortgage credit lending: It is usually 0.5% -1.0% lower if you have life insurance. For the insured person, the risks of loss of real estate in the event of illness or transfer of debt to his loved ones (heirs) in the event of death are reduced. Sometimes these arguments are decisive when making a decision.

Title Insurance

Title insurance for mortgages at Sberbank is issued on a voluntary basis. The essence of the procedure is to insure the borrower's right to the purchased property.

Typically, title insurance is chosen by buyers of secondary homes, cottages and land plots. But in Lately Buyers of new buildings also insure themselves, preferring to protect themselves from possible problems.

Title insurance for a mortgage at Sberbank is perceived positively when approving a loan application, but it does not affect loan rates. The average policy price in 2019 ranges from 0.3% to 0.5%. With a mortgage of 3 million rubles, the borrower can pay from 9 to 15 thousand rubles.

Mortgage title insurance at Sberbank provides guarantees in repaying the loan debt in the event of deprivation of rights to real estate. This can only happen by court order:

• when a transaction is declared invalid due to identified errors;
• upon presentation of the rights of legal copyright holders, if their interests were not taken into account in the purchase and sale agreement;
• when identifying illegal schemes and forgery of documents during the sale of real estate.

Thus, each borrower independently decides whether title insurance is required for him: this policy will not affect the terms of the Sber mortgage.

Online calculator

Calculation of the cost of a mortgage insurance policy for Sberbank can be done in online mode. To do this, you need to fill out the fields of the calculator on our website. After receiving the calculation, you can issue a policy online and transfer it to Sberbank.

Insurance registration procedure

To buy a mortgage insurance policy from Sberbank, you must select insurance company and submit an application. You will need to submit a package of documents. A complete list can be obtained from your insurer. Typically this list includes:

• Borrower’s passport (original and copy provided);
• application on insurance company letterhead;
• a questionnaire with the borrower’s personal data and characteristics of the mortgage loan;
• certificate of ownership of the purchased property;
• report on the assessment of the collateral;
• copy of the technical passport.

The registration procedure will take a little time. If the borrower chooses Sberbank-Insurance, the service can be issued on the day of the transaction. After signing the contract, you need to pay the insurance premium for the first year and give the bank a copy insurance policy.

The policy is renewed annually. If you use the services of one insurer, you do not need to collect documents for each next installment: The borrower’s data is stored in an electronic database. With standard loan repayment, the insurance company calculates and reports the amount of the next installment. After payment, the insurer will send a copy of the policy to the bank.

If the borrower changes insurance company, you will need to provide the entire set of documents and a certificate from the bank about the balance of the debt.

How much does a loan cost without insurance?

The total cost of a mortgage for a borrower consists not only of the amount of the “body” of the loan and interest, but also of all additional expenses. Over the course of a number of years you will have to pay insurance premiums so that the company renews the policy. This is a significant burden on personal budget, but the terms of the loan do not imply otherwise. If you refuse insurance for the next year, you can receive a notification from the lender about an increase in the rate or an offer to repay the loan in full.

Therefore, it is necessary to comply with the obligatory conditions of the lender in order to avoid the risk of loss. As for voluntary insurance, each borrower will answer the question of whether insurance is mandatory for him, based on his personal situation. How to calculate costs in this case? A calculator on the insurer’s website or consultants in its offices will come to the rescue.

Practical clients choose comprehensive mortgage insurance from Sberbank, which includes all two types of policies. The packaged service is cheaper, the total fee can be about 1% per year of the mortgage amount.

Return of mortgage insurance

Not all borrowers are aware of their right to return insurance after repaying the debt to the bank. Insurers are reluctant to share such information, but by law they cannot refuse a refund. How to return mortgage insurance from Sberbank?

In order for the company to return the fees, the borrower must submit an application. Let's consider in what cases this is possible:

• after early full repayment of the loan, if the insurance period is more than 11 months, the borrower has the right to receive an annual contribution;
• at early repayment, if the policy is valid for 6 months, the client will be refunded 50% of the cost of paid mortgage insurance premiums;
• If the policy is valid for less than six months, refund may be refused. In such a situation, you can file a lawsuit if the financial benefit is obvious.

Sberbank Insurance will receive information about early repayment of the loan directly from the bank.

To apply for a refund of insurance after paying off a mortgage from another insurer, you should attach a Sberbank certificate to the application about the debt being fully or partially repaid.

Conclusion

So, for everyone who plans to get a mortgage from Sberbank, mandatory It is necessary to insure the purchased property against the risk of loss or damage. As for voluntary insurance, each borrower must make his own choice. We recommend that you do not neglect the opportunity to protect your financial position from risks: the mortgage is issued for long term and no one knows what might happen during this time.

If you need help with your insurance return, we recommend that you sign up for free consultation to our lawyer in a special form.

We are waiting for your comments about the article. We will be grateful for your rating and like on social networks.

The life situation in the family is such that the only way out is to get a mortgage. It is necessary to have information about the cost of the monthly payment, as well as the cost of mortgage insurance. The insurance product is issued for one year; the entire mortgage amount is not paid during the year and the policy will need to be renewed. This clause is specified in the loan agreement. There is a condition that if a person does not renew the insurance, then the bank has the right to review the rate and increase it.

Options for extending mortgage insurance at Sberbank.

There are several options for extending insurance. If you have free time, you can go to the Sberbank office. The second option is via the Internet. And the third option, which is gaining popularity, is through mobile app Sberbank Online. Each person can choose and complete the design in a way convenient for him.

How to renew your mortgage insurance through the website?

Nowadays, the Internet has firmly entered our lives. Many services can be done without leaving your home. To apply for mortgage insurance, you need to go to the official website of Sberbank. Next, go to your personal account and enter your username and password. Next, select the “policy renewal” option and fill out the form again. We enter new information about the loan balance, indicate the policy number and loan term.

Delay in mortgage insurance at Sberbank, what to do?

A situation arose that it was necessary to deposit the amount on the 5th, but the person forgot to do it or was unable to do so. A day or two passed, after a while the borrower remembered about it. Then you can make the payment amount at this moment. If there is no way to pay, for example there is no work, then you need to contact the bank managers. Possible penalties are specified in the contract, please read it again.

Is it possible to change insurance company?

When you took out insurance, you signed up with Sberbank. There was no time to look for other offers. Now you have begun to devote time and have found information that another insurance company has better insurance conditions. The question arises: is it then possible to change the organization and insure the mortgage loan in another place?

Of course you can, the main thing is to check the information that this organization included in the bank's approved list.

Now you know how to extend your mortgage insurance. Penalties will not affect you, and you will sleep peacefully. Store transaction documents in a special folder. On a calendar or in notes on a mobile phone, you can highlight the end date of the contract with a marker. A year is a short time and it will pass quickly. Again, a policy renewal will need to be completed.

Important condition happy life- peace of mind for the safety of residential property. And even more so if you buy a home with a mortgage loan. The borrower needs confidence in the future and the absence of risks. Sberbank offers mortgage insurance for its clients on favorable conditions. Let's look at some questions clients have about concluding an agreement, and how much insurance costs at Sberbank for a mortgage.

Advantages and features of the service

Insuring real estate purchased with a mortgage from Sberbank is primarily beneficial for those who took out a housing loan from the same bank. Registration of insurance simultaneously with the conclusion mortgage agreement reduces annual interest loan by 1%. As the outstanding balance decreases, the cost of the policy decreases. Insurance can be obtained in the shortest possible time directly from the bank or by placing an application on the website.

Sberbank does not prevent the registration mortgage insurance will be concluded with another bank, but then the interest rates on the loan will be increased by 0.25% of the original rates.

What is insured

Sberbank offers insurance packages covering real estate, ownership, as well as the health and life of the borrower.

The housing policy includes insurance of the structural elements of the property - windows, doors, load-bearing and non-load-bearing walls, partitions and ceilings. When insuring a private residential building, the foundation and roof are also covered. The list of risks when insuring a mortgage from Sberbank includes:

1. illegal actions of third parties;
2. natural disasters;
3. damage or loss of housing due to fire, gas explosion or lightning strike;
4. falling trees or any large objects;
5. detection of structural defects in the insured property;
6. water flooding;
7. collision with a vehicle;
8. other negative impacts.

Mortgage life insurance at Sberbank in 2017 includes:

• loss of ability to work resulting from a serious long-term illness, disability, or unsuccessful surgery;
• death of the borrower - relatives are exempt from mortgage payments;
• loss of employment due to bankruptcy or liquidation of the company in which the borrower was employed.

How to get insurance

If the document is drawn up directly at the Sberbank office, the client receives it in his hands immediately after payment. Registration of mortgage insurance with Sberbank online is the most in a convenient way obtaining a policy. Submission of an application for insurance is made using the form on the website. The electronic application must indicate:

• type of housing (house, apartment);
• list of risks;
• contract time;
• year of construction of the residential property, presence of wood in the floors;
• the insured amount based on the results of an independent assessment;
• mortgage loan agreement number;
• personal data of the policyholder;
• contacts of the policyholder;
• address of the property.

The price for a year of insurance can be only 4-5 thousand rubles, it all depends on the balance of debt on a mortgage loan at Sberbank PJSC. To accurately calculate the cost of insurance, use the calculator at https://online.sberbankins.ru/store/mort/index.html#/viewCalc

When registering online, payment is made immediately. Then you need to wait for an SMS notification that the application has been accepted and the policy has been generated in personal account. The bank sends the original document by Russian Post by registered mail to the location of the insured residential property. Delivery is carried out on average in 1.5-2 weeks. If it is not possible to pick up the envelope with the policy due to the remoteness of the post office, you should provide the bank with your personal information and the address to which the letter should be sent a second time.

Information about issuing a policy with insurance is automatically transmitted to Sberbank.

Calculation of the cost of an insurance policy

This happens automatically when you place an application on the site. However, the exact price of the service is set upon signing loan agreement for housing. An electronic policy format with all the information the client needs is also available. Registration takes place on the website of Sberbank Insurance LLC

The calculation shows that insurance premiums combined with monthly mortgage payments. That is, if annual rate for a mortgage is 12%, then together with insurance it will increase to 12.5-13%. The full amount of the loan is indicated in the repayment schedule, but you will also have to add the amount of insurance premiums to these values.

For example, interest rate for a loan together with payment of insurance - 13%. This means that about 1% goes to paying for the insurance policy. If the client refuses to take out insurance with Sberbank and chooses another institution, the rate increases to 13.25%. But if third party bank offers insurance on more favorable terms that cover Sberbank’s interest surcharge for refusing the service, it makes sense to get insurance there.

About the need for insurance

The law states that voluntary insurance is not among the necessary ones. But concluding a mortgage agreement implies simultaneous registration of insurance.

This is explained by the fact that the rules for obtaining insurance upon receipt of ownership of residential premises are regulated separate laws about mortgages. Home insurance is thus pledged and must be taken out without fail. Therefore, the question of whether mortgage insurance is mandatory at Sberbank should be answered in the affirmative. Another thing is what to choose insurance organization By home loan in Sberbank the client can at his own discretion. But this will be unprofitable, since the bank will increase the annual interest. In addition, it is necessary to check that the selected organization is on the list of those accredited by Sberbank, otherwise the bank will not accept the document.

Mortgage insurance from Sberbank really allows you not to worry about the safety of your home. Therefore, it is advisable to issue it to those who have received mortgage loan in the same large and reliable bank.