Home Insurance : How does the guarantee flight ?

Home insurance – Every insurance contract contains a comprehensive home warranty flight will be very useful in case of burglary. Logical, right? Certainly. But for the home insurance policy that was executed to produce because it is still necessary that certain conditions are satisfied from the evidence to the obsolescence of the property stolen.

Home insurance for Burglary

What is needed to guarantee flight comes into play? Burglary. Thus, it is necessary that someone be brought to your home break-in, trick, by using force or using false keys.

In most home insurance cases, the guarantee contained in the home insurance contract unit serves not only to cover the stolen goods but also those that have been damaged or destroyed. This provides compensation for damage (lock forced, door torn off, alarm system destroyed, …) by the thief at his intrusion.

Home Insurance terms and conditions

Whether or not insurance apartment for warranty protects you, you must:
• meet the requirements contained in the contract as the installation of a door, using an alarm system, the fact of having a three-point lock, …
• Estimate as accurately as the value of property because it is from that amount the insurer will calculate the annual fee
• provide evidence of the burglary, hence, the interest to keep the lock forced, or torn flap
• provide proof of ownership and value of stolen property (invoices, photos, delivery notes, credit card statements, expert report for valuables …)
• complaints and to report the theft within 48 hours after the discovery of the theft
• provide an estimate of the object components, destroyed or damaged with the relevant proofs within 5 to 30 days

Reimbursement and obsolescence

The refund amount will depend only on the level of coverage in your insurance contract; in this area, there are:
• the replacement value: the age will not be taken into account and compensation will reflect the purchase price
• the replacement value: the age and compensation will be deducted shall be the value of the property stolen from the day of the flight

Note that in case of disagreement on the estimate of the expert for flights fairly consistent, the insured is able to apply to the Ombudsman of the insurance company. If this does not resolve the dispute, against a second opinion can be achieved at the expense of the insured – Home Insurance.

Mortgage Insurance Contract Borrower Effect on the Loan Agreement

Mortgage Insurance contract is incidental to the loan agreement. The loan insurance generally covers the risk of death, disabilities and, for certain contracts, the risk of job loss. This is not a compulsory insurance under the Insurance Code, however it is in almost all cases, required by the lender for the mortgage. The Consumer Code contains provisions that guarantee in Articles L. 312-9 for the mortgage and L. 311-12 for consumer credit.

The mortgage insurance contract protects both the borrower and the lending institution. Indeed, if development of the guarantee, the beneficiary of benefits that paid by the insurer is not insured, but by the credit institution.

Mortgage Insurance Contract for Future Borrower

In practice, the mortgage insurance that offered to the future borrower is usually an mortgage insurance contract, also called the group contract, subject to Articles L. 140-1 et seq of the Insurance Code, with the exception of Articles L. 140-4 and L. 140-6. In this case, the credit institution has subscribed to directly benefit its borrowers an insurance contract, which has many advantages for the borrowers (including simple procedures for membership and the pooling of risks, risks being split between all borrowers who joined the group insurance contract), but that may not always take intothe specific situation of a borrower account because of its age, health status or occupation.

Mortgage Insurance Contract to Secure the Loan

The borrower may also, to secure the loan, use an individual insurance (insurance delegation) to the extent that it has the same guarantees as the mortgage insurance contract group. However, the credit institution may, within the current legislative framework, to refuse the use of the borrower to an insurance contract other than his group. Since 1 October 2008, unless the lender requires membership in a group insurance contract, the supply of mortgage must include the ability for the borrower to maintain insurance equivalent as written in mortgage insurance contract.