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What kind of insurance is required for a mortgage in a savings bank. Is Sberbank mortgage insurance mandatory?

21.04.2022

Mortgage lending, in accordance with the legislation of the Russian Federation, is accompanied by mandatory insurance of the collateral object. In addition, Sberbank mortgage insurance can be carried out in the following areas:

life and health insurance of the borrower;
title insurance.

Life insurance with a mortgage at Sberbank is not a mandatory requirement and is issued at the request of the client. In case of its registration, the following risks are taken into account:

death;
disability (including temporary);
disability, serious illness;
job loss (involuntary).

The cost and terms of the contract are individual and depend on the validity period and the set of included risks. Insured events "death" or "complete disability" provide for the full repayment of the borrower's debt by the insurance company. If the disability is temporary, the insurance covers the payment of monthly payments until the borrower recovers or returns to work.

Home insurance

Compulsory home insurance for mortgages in Sberbank, as in any other financial institution, is necessary to reduce risks. According to clause 31 of the Federal Law "About mortgage", the buyer of the apartment insures the purchased object in favor of the holder of the pledge (in this case, Sberbank). Minimum set of considered risks:

Loss of property.
Property damage.

The sum insured is equal to the amount of the loan, which guarantees full compensation for damage by the bank in the event of an insured event (fire, flood, etc.). The implementation of the functions of an insurance company is performed by a subsidiary of Sberbank Insurance. At the same time, for the conclusion of the contract, the client has the right to choose any other, from 17 insurance companies accredited by Sberbank. These include:

VTB Insurance;
Ingosstrakh;
RESO-Garantia;
Absolute Insurance;
Rosgosstrakh;
Renaissance Insurance Group;
Insurance company "Surgutneftegaz";
SC PARI
and others.

If the client wants to take out insurance in an insurance company that is not included in the list of recommended ones, it is necessary to send the documents of this company to the bank. After checking the insurer, Sberbank will approve or refuse to cooperate with him.

Considered risks and duration

The following events are considered an insured event when insuring collateral:

intentional damage or destruction of the object of insurance by third parties;
theft;
fire, flood;
domestic gas explosion;
natural disaster (including hurricane, lightning strike).

In case of complete destruction of the apartment, the insurance company pays the mortgage in full. If the apartment is partially damaged, all damages will be compensated.

The amount of coverage is determined individually and must not be less than the total debt on the loan. The option of mortgage insurance for an amount equivalent to the value of the object is carried out on the basis of the relevant appraisal reports. This amount is fixed and does not change throughout the duration of the contract. Mortgage insurance at Sberbank is subject to renewal every year, according to the conditions specified in the policy.

How to apply for a policy

Before taking out insurance, it is important to carefully study the terms of the agreement.

You should pay attention to the following points:

amount of insurance coverage- the standard contract assumes an amount equivalent to the cost of the loan with interest (if desired, you can increase the amount, including possible fines and penalties);
insurer's premium- for Sberbank clients there is a single tariff - 0.15% of the cost housing ;
term of the insurance policy- as a rule, corresponds to the validity period of the loan agreement;
prolongation conditions- some insurance companies change the interest rate upwards after the first year of the insurance;
terms of early repayment- a standard agreement allows you to return part of the paid insurance premiums in case of early repayment of the loan. In the absence of this clause in the contract, problems may arise when trying to return funds.

To draw up an insurance contract, you must have a passport, a mortgage contract and a certificate with an assessment of the value of real estate. Based on the data of the last two documents, the cost of the policy is calculated. The following factors also affect the amount of the insurance premium:

general condition of the apartment;
duration of the insurance contract;
the number of risks considered.

How to return insurance premiums

The borrower has the right to return payments made for a period exceeding the term of the mortgage. The opportunity is provided for by a standard contract and is governed by certain rules:

To implement the refund of the amount, you must submit an application, confirmed by an extract from the bank, about the absence of mortgage debt.

Property insurance or life insurance with a mortgage at Sberbank is one of the issues that must be studied before signing a loan agreement. In addition to certain guarantees, in the event of insured events, the client gets the opportunity to receive a lower interest rate on the loan.

The obligation of the borrower to ensure the safety of the collateral is provided for by the law "On Mortgage (Pledge of Real Estate)". For this, a real estate insurance contract is drawn up against the main group of risks, which include complete loss or partial damage. This is a guarantee of repayment of the loan amount even if the borrower has serious problems.

The beneficiary under the insurance contract shall establish:

bank - in the amount of the debt under the loan agreement;
the insured - in excess of the amount payable to the creditor under the loan agreement.

If there are no delays on the loan or if the amount of insurance indemnity is less than 70% of the cost of the apartment, the amount of insurance indemnity is transferred to the borrower according to the details specified in the insurance contract. If there were violations or losses of more than 70% of the market value of housing, the money is transferred to the creditor to pay off the debt under the loan agreement.

In the event of an insured event, the insurer must pay the costs of restoring the apartment, or pay the full insurance amount in the event of a complete loss of housing. The amount insured is usually equal to the amount of mortgage debt.

Important! Sberbank requires that there be no deductible (a loss not covered by the insurer). In addition, borrowers are also prohibited from paying insurance premiums in installments.

What policy is required?

Just like any other bank, in Sberbank, only insurance of the lending object itself is required(apartments, houses, townhouses, apartments). Land plots do not need to be insured. Insurance includes the provision of financial protection in the event of loss or damage to property in the event of:

fire;
natural disaster;
bay;
explosion of a boiler, gas;
illegal actions of third parties.

Structural elements must be insured(bearing or non-bearing walls, partitions, doors, windows).

When choosing Sberbank Insurance as an insurer, you can visit the bank's website.

Only for participants in the lending program with state support at a preferential 6% per annum, an obligation is provided to insure not only real estate, but also their lives. But these are not legal requirements, but the conditions for participation in the program.

On a voluntary basis, you can conclude:

comprehensive mortgage insurance contract (includes property, life, title insurance);
life insurance contract.

By choosing voluntary insurance, the borrower achieves a reduction in the Sberbank mortgage rate to the established level under the “protected loan” condition. In other words, it decreases by 1 percentage point. With life insurance, the borrower insures himself against the risk of getting 1 and 2 disability groups, which can become a serious obstacle to the payment of the loan.

Naturally, the insurer will pay the bank and 100% of the sum insured if the borrower dies from an accident or sudden illness. In this case, his heirs will not remain indebted to the bank, because credit obligations are inherited.

Is it possible not to insure a SB mortgage loan at all?

It is impossible to refuse mortgage insurance because it is provided for by law, and not by the conditions of a bank or a loan program. When filling out an application form, you can, of course, indicate that you are not planning to buy any of the proposed policies, but the chances of obtaining a loan in this case will be minimal.

Effects

The borrower can always terminate the contract ahead of schedule after receiving a loan and buying an apartment. In this case, he will be able to recover most of the premium paid. But the insurer will certainly transfer information about the termination of the contract to the bank. In this case, Sberbank will require you to draw up an agreement with another company from the list of accredited partners. This list includes in particular:

Sberbank insurance;
Adonis;
AlfaInsurance;
VTB Insurance and other companies.

Read more about the cost of insurance in various companies.

Attention! It is worth breaking the insurance contract only if the borrower intends to change the insurer. Completely do without mortgage insurance - will not work.

Sberbank is one of the leaders in the mortgage lending market. All mortgage borrowers of the bank are required to purchase a policy to protect their property. On a voluntary basis, they can also purchase life insurance or immediately draw up a comprehensive insurance contract.

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Reading 6 min. Views 39.7k.

On the Internet, the topic is often discussed: “Is it possible to refuse mortgage insurance at Sberbank for the second year?”. Many participants in the discussion complain that Sberbank violates the terms of the mortgage agreement and illegally raises the loan rate. This situation causes a strong reaction among users of the global network. At banking forums, people share their experience and give recommendations for competent communication with employees of the financial sector.

Real estate acting as collateral for a mortgage loan can cost tens of millions of rubles. In the event of the loss of collateral, Sberbank will incur significant losses. Insurance of the collateral object is a mandatory measure in accordance with Russian law.

If the client does not want to purchase a policy, then Sberbank may refuse to provide a loan. The bankers will hide the true reason for their decision. If the property is damaged due to the fault of the borrower, no compensation will be paid. The Sberbank counterparty will have to compensate for material damage on its own.

An additional type of protection is life insurance of a citizen. This service is not legally required. It helps Sberbank reduce commercial risks. If the borrower dies before the loan is fully repaid, the rest of the debt will be paid by the insurance company (IC). In the absence of a policy, the debt burden will fall on the shoulders of the relatives of the deceased.

Not only life is insured, but also the risk of permanent disability, as well as loss of a job. The debt obligations of the counterparty who has become disabled will be repaid at the expense of the profit of the IC. A legally significant event in the event of a job loss is the liquidation of the employing organization or forced dismissal from the company (leaving the company of one's own free will does not allow one to receive financial compensation).

If the owner of a mortgage loan wants to refuse additional insurance services, then a financial institution may not issue a loan. In fact, we are talking about the imposition of paid services. Most people agree to buy a policy in order to get a loan to buy an apartment. After the expiration of the contract, Sberbank's counterparties refuse to renew it. The bank unilaterally raises the interest rate, violating the current agreement.

Many agree with the actions of the bank, and begin to pay a loan with a higher rate. The most literate people ask themselves the question: “Is it possible to refuse mortgage insurance at Sberbank for the second year?” After studying the norms of the current legislation, they understand that the bank imposes a financial product. Next, an application is made for the return of overpaid funds.

This paper states:

Passport data;
Address of registration and actual residence;
Number and date of conclusion of the loan agreement;
The alleged reason for the interest rate cut;
Method of notification of the decision;
Citizen's contact number.

Attached to the application:

A copy of the policy;
Copy of the passport;
Copy of loan agreement;
Certificate of no debt.

The manager will notify the applicant of the decision by registered or e-mail. Another notification option may be a personal visit of the client to the bank office. If the decision to reduce loan payments is positive, then the borrower will have to familiarize themselves with the updated payment schedule.

Is it possible to refuse mortgage insurance at Sberbank for the second year? Lowering the interest rate is possible if there are relevant clauses in the contract. If a bank employee refuses to accept a package of documents, then you must write a complaint addressed to the head of the branch. The unwillingness of employees and management to accept documents must be recorded in writing. If the negotiation process has reached an impasse, then you need to contact law enforcement and regulatory authorities (the prosecutor's office, the Ministry of Internal Affairs, Rospotrebnadzor).

The application can be sent through the Sberbank Online application. The document must be filled out in printed form and signed with a transcript. The paper is then scanned and converted into an electronic file. Then you need to go to your Sberbank Online personal account and click the "Letter to the Bank" button. Next, you need to open the Outbox folder and create a new message. After compiling the text of the appeal, a file with a digital copy of the application is attached to the message.

Usually, Sberbank does not go into confrontation with customers and voluntarily adjusts the rate. In some cases, it comes to litigation. Some borrowers are trying to recover from the credit institution moral damage and a penalty for using other people's money. The court usually rejects these claims, returning the overpaid interest to the plaintiff.

Cases rarely reach court because mortgage disputes often attract the attention of journalists. Reports and stories on television create a negative information background, which leads to a reduction in the bank's client base. People who decide to refuse to conclude a contract should not become movie heroes.

Managers of a credit institution often insist that a person buy a policy from Sberbank Insurance. Such proposals are against the law. The client is not obliged to insure life in a particular company. The insured should study all the offers of third-party insurance companies and choose the most advantageous option.

"Cooling off period" and cancellation of insurance

The issue of refusal of Sberbank mortgage insurance for the second year worries many. The massive imposition of credit products by banks has led to the emergence of the concept of a "cooling off period".

The new economic term was introduced by the Bank of Russia and fixed in a special instruction published on the website of the mega-regulator. “Cooling off period” (CO) is the period during which the client can cancel the insurance and return the policy to the insurer. After that, the insurance company is obliged to transfer the overpaid money to the insured. In 2018, the Central Bank of the Russian Federation changed the duration of the PO. Now it is 14 days.

If at the time of filing an application for a refund, the contract has not entered into force, then the funds are returned to the policyholder in full. Refunds under the current agreement are carried out with a certain discount (the amount of the fine depends on the number of days that have passed since the conclusion of the agreement).

Not all economically active citizens know about software. Until the Central Bank obliges credit institutions to inform customers about software, the situation with the imposition of policies will not change. An alternative solution to the issue of "forced agreements" could be the introduction of large fines for the aggressive promotion of financial products.

Countermeasures preventing cancellations of insurance

Refusal of mortgage insurance at Sberbank for the second year is of interest not only to mortgage borrowers, but also to a credit institution. Bankers are doing everything to reduce the number of terminated agreements.

Sberbank is not conducting a massive reduction in mortgage rates. This happens only in isolated cases. On the website of the credit institution there is no application form for a refund. The document must be searched on the Internet and edited independently. Not all clients can correct the application without the help of a lawyer. This creates additional difficulties for the return of funds.

Sberbank financiers have developed a special product called " Protected borrower for the term of the mortgage". The buyer of the extended policy will not have to renew the contract annually, as the “Protected Borrower” is valid until the client fully repays the mortgage loan. The cost of insurance is determined by the balance of debt on a mortgage loan.

The new financial product is designed to replace conventional insurance policies. "Long-term insurance protection" is imposed on citizens who live in Moscow and the Moscow region. In the near future, the Protected Mortgage Borrower product will be sold in all branches of Sberbank. Mortgage prices will rise again. You can find answers to the most popular questions about mortgage insurance at Sberbank

Having decided to use a mortgage loan, you need to familiarize yourself with the issue of insurance and find out how much mortgage insurance at Sberbank will cost, whether it is mandatory and under what conditions it is issued.

The insurance clause is written into the loan agreement. Including it says that in case of termination or non-renewal of the personal insurance contract (the usual term of such an agreement is 1 year), the bank has the right to increase the interest rate. The insurance clause in the Sberbank loan agreement looks like this:

Insurance is a prerequisite for obtaining a subsidized mortgage at an attractive rate of 11.4%.

If you take a mortgage from Sberbank, the housing being financed, according to the law of the Russian Federation, is subject to compulsory insurance, which minimizes all risks. If the property is lost or damaged, the borrower will receive the amount specified in the contract, which is redirected to Sberbank to repay the loan funds.

How to choose an insurance company for taking a mortgage at Sberbank

Although there are many insurance companies, the subsidiary of Sberbank is Sberbank Insurance, here you can insure an apartment and get a policy.

In almost all branches of Sberbank, borrowers most often hear from mortgage managers that they can insure their life and health under a mortgage agreement only at Sberbank Insurance. But this is not so: in fact, you can insure your life and health in any insurance company accredited for this type of insurance in Sberbank. The clause on insurance in accredited companies is spelled out as follows:

The borrower has the right to insure life and health in any insurance company that meets the Bank's mandatory requirements for insurance companies and the conditions for providing insurance services.

As of May 2017, 21 companies are accredited for personal insurance with Sberbank:

"VSK"
AlfaStrakhovanie
"Absolute Insurance"
"Sberbank life insurance"
SOGAZ
"Zetta Insurance"
"Ingosstrakh"
"RESO-Garantia"
National Insurance Company TATARSTAN (JSC NASKO)
"Rosgosstrakh"
"SC "PARI"
Renaissance Insurance Group
"RSK Sterkh"
"SF "Adonis"
IC "RegionGarant"
"SG "Spassky Gate"
"Insurance company" Surgutneftegaz "
"Liberty Insurance"
"Helios"
"Insurance company" SDS "
"Chulpan"

From June 1, 2016, you can return the money for imposed insurance. This also applies to personal mortgage insurance. However, remember that no one has canceled the increase in the interest rate, if it is written in the contract - it will increase if there is no insurance.

Apartment insurance

Apartment insurance includes the following risks:

Fire, explosion, flood.
Robbery.
Natural disasters.
Damage or destruction of property by third parties.

The cost of insurance is determined by the borrower. It can be equal to the price of the apartment or the balance of the debt. In the latter case, as the debt decreases, the value of the policy decreases.

The insurance policy is issued for 1 year, so it needs to be renewed every year.

Life and health insurance

If apartment insurance is mandatory, then life and health insurance with a mortgage is voluntary. Having insured his life, the borrower will protect his relatives from obligations if, in the event of force majeure situations, he loses his previous financial condition. The life insurance policy includes the following risks:

Disability or serious illness.
Death.
Brief loss of performance.

Depending on the chosen risk, Sberbank offers its own conditions for compensation. If in the event of death or permanent disability, the insurance company fully covers all debts, then in case of temporary disability, funds are covered for the period when the borrower was unable to work (confirmed by a sick leave).

Reading 6 min. Views 39.7k.

Real estate acting as collateral for a mortgage loan can cost tens of millions of rubles. In case of loss, Sberbank will suffer significant losses. Insurance of the collateral object is a mandatory measure in accordance with Russian law.

An additional type of protection is life insurance of a citizen. This service is not legally required. It helps Sberbank reduce commercial risks. If the borrower dies before the full repayment of the loan, then the balance of the debt will be repaid (SC). In the absence of a policy, the debt burden will fall on the shoulders of the relatives of the deceased.

Not only life is insured, but also the risk of permanent disability, as well as loss of a job. The debt obligations of the counterparty will be repaid at the expense of the profit of the IC. A legally significant event in the event of a job loss is the liquidation of the employing organization or forced dismissal from the company (leaving the company of one's own free will does not allow one to receive financial compensation).

If the owner of a mortgage loan wants to refuse additional insurance services, then a financial institution may not issue a loan. In fact, we are talking about the imposition of paid services. Most people agree to buy a policy in order to. After the expiration of the contract, Sberbank's counterparties refuse to renew it. The bank unilaterally raises the interest rate, violating the current agreement.

This paper states:

Passport data;
Address of registration and actual residence;
Number and date of conclusion of the loan agreement;
Suggested reason;
Method of notification of the decision;
Citizen's contact number.

Attached to the application:

A copy of the policy;
Copy of the passport;
Copy of loan agreement;
Certificate of no debt.

Is it possible to refuse mortgage insurance at Sberbank for the second year? Lowering the interest rate is possible if there are relevant clauses in the contract. If a bank employee refuses to accept, then it is necessary to write a complaint addressed to the head of the branch. The unwillingness of employees and management to accept documents must be recorded in writing. If the negotiation process has reached an impasse, then you need to contact law enforcement and regulatory authorities (the prosecutor's office, the Ministry of Internal Affairs, Rospotrebnadzor).

The application can be sent through the Sberbank Online application. The document must be filled out in printed form and signed with a transcript. The paper is then scanned and converted into an electronic file. Then you need to go to and click the "Letter to the Bank" button. Next, you need to open the Outbox folder and create a new message. After compiling the text of the appeal, a file with a digital copy of the application is attached to the message.

"Cooling off period" and cancellation of insurance

Countermeasures preventing cancellations of insurance

Sberbank is not conducting a mass reduction. This happens only in isolated cases. On the website of the credit institution there is no application form for a refund. The document must be searched on the Internet and edited independently. Not all clients can correct the application without help. This creates additional difficulties for the return of funds.

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