Collateral insurance
Protect your property from unforeseen circumstances
Property insurance for individuals
Your property is insured against fires, natural disasters, and other accidents. This allows you to protect yourself from debt to the bank - in a critical situation, the insurance company will assume financial responsibility. The Property Insurance Policy is a guarantee of fulfilling the Borrower's financial obligations to repay the received loan and ensures the possibility of quick and complete restoration of the insured property.
Objects of insurance
- Houses, apartments, residences
- Outbuildings, separate premises
- Household items located in the insurance territory
- Land
- Other objects of movable and immovable property
Advantages of a Property Insurance Policy
According to Article 729 of the Civil Code (published in Monitorul Oficial No. 66-75 of 03/01/2019), the mortgage debtor is obliged to insure the mortgaged item in favor of the mortgage lender at replacement cost against all risks of accidental loss or accidental damage.
- The Insurer assumes the financial burden of the Insured, fulfilling its financial obligations to the creditor bank within the limit of the insured amount in case of complete loss of property, and also compensates the Insured for damage caused to the insured property
- Maximum reliability and complete protection of property from a wide range of risks
- Low tariffs and a flexible system of discounts in the absence of damage
- A minimum set of documents and a simplified process for concluding an agreement: a voluntary Property Insurance policy is issued simultaneously with the loan agreement without providing additional documents
- Possibility of concluding an agreement and paying the insurance premium at any MAIB branch
Actions of the Policyholder upon the occurrence of an insured event
Take all possible measures to reduce the damage caused
Immediately notify the competent authorities (Police, Fire Service, State Hydrometeorological Service, Civil Protection and Emergency Situations Service, others)
Notify the Insurer within 2 working days from the date of occurrence of the insured event
Preserve the damaged property in a damaged state until inspected by a representative of the Insurer
Required documents
- Identity card of the owner (debtor)
- An assessment report of the insured property issued by an authorized company
