Protection for real estate and the lender’s interests under a mortgage
For companies and business owners who pledge real estate as collateral. Terms are calculated for the property, appraised value, loan term and beneficiary requirements.
The contract protects the owner’s property interest and recognises the bank’s priority right to indemnity within the agreed sum insured.
The address, value and main characteristics of the property are recorded when the contract is issued.
The organisation that issued the mortgage loan has priority in receiving the insurance indemnity.
Cover applies to loss, destruction or damage caused by events listed in the contract.
The insurer’s obligations apply to the insured property within the Republic of Uzbekistan.
The sum insured, deductible and price are determined individually
The insurance contract records the exact risks covered and the indemnity terms.
Fire, explosion, lightning strike and impact by an aircraft.
Earthquake, flood, storm, hurricane, heavy rain, landslide, mudflow, hail and other listed hazards.
Theft or robbery when the event is confirmed by the competent authorities.
Vandalism and other unlawful acts supported by the required documents.
Failures of heating and internal plumbing systems, including burst pipes.
Water entering from premises that do not belong to the policyholder.
The contract insures real estate purchased with a mortgage loan and pledged to the bank. Until the loan is repaid, the bank has priority in receiving the insurance indemnity.
The property address and value, sum insured, deductible, term and payment schedule are recorded when the contract is issued.
fire, explosion, lightning strike and impact by an aircraft
earthquake, flood, storm, hurricane, heavy rain, landslide, mudflow, hail, heavy snow and other listed natural events
theft, robbery and acts of vandalism when confirmed by the competent authorities
failures of heating and internal plumbing systems, as well as water entering from neighbouring premises
Destruction, loss or damage to the insured property is covered only when caused by an event expressly listed in the contract.
deliberate or fraudulent acts and breaches of mandatory safety rules
wear and tear, corrosion, rot, mould, damp, insects, hidden defects and the property’s natural characteristics
design errors, defective materials and electrical damage to equipment or wiring
war, civil unrest, terrorism, confiscation, nuclear or radiation events, and non-pecuniary loss
This is a summary. The complete exclusions and grounds for declining a claim are determined by the contract and applicable law.
Act quickly and preserve evidence — this helps establish the cause and amount of damage.
Take reasonable steps to protect the property, contact the relevant emergency services and document the damage.
The contract requires initial notice immediately, but no later than three days.
Provide the written claim, policy, reports, expert findings, invoices and other evidence without delay.
Once the cause and amount of loss are established and the event is accepted as insured, a report is prepared and a payment decision is made.
To assess the property and risk, a specialist will confirm the parties, property value and insurance parameters.
Details of the policyholder, property owner and beneficiary bank.
The loan agreement, mortgage or pledge agreement, and the bank’s insurance requirements.
Name, use, address, technical characteristics and information about the property’s current condition.
An agreed valuation statement or appraisal between the policyholder and beneficiary.
Preferred sum insured, term, currency, deductible and premium payment schedule.
Access for inspection and information about damage, repairs and previously reported events.
Submit a request and provide the basic property and mortgage details — we will confirm the remaining parameters with you.
Complete the form on this page. A specialist will contact you and clarify your requirements.
We will need information about the property, loan, bank, appraised value and preferred protection term.
We will determine the sum insured, deductible, premium, payment schedule and documents required for issue.
It is insurance for real estate pledged to a bank as security for a mortgage loan. The contract protects the owner’s property interest, while the bank has priority in receiving indemnity until the loan is repaid in full.
The product is available to legal entities and individuals who own real estate, or have a lawful right to possess it, and pledge it under a mortgage agreement. This business page is primarily intended for companies and business owners.
The beneficiary is the bank or other organisation that issued the mortgage loan. It has priority in receiving the insurance indemnity.
The insurance covers specified real estate purchased with loan funds and pledged to the bank. Its use, address, value and other characteristics are recorded when the contract is issued.
The contract may include fire, explosion, lightning strike, earthquake, flood, storm, hurricane, heavy rain, landslide, mudflow, hail, theft, robbery, failures of heating or internal plumbing systems, water from neighbouring premises and acts of vandalism.
Yes, the contract may include these risks. The event must be reported to the competent authorities and supported by the required documents. An unconfirmed theft may not be accepted as an insured event.
Examples include deliberate or fraudulent acts, breaches of safety rules, wear and tear, the property’s natural characteristics, mould, corrosion, hidden defects, design errors, defective materials, electrical damage, war, terrorism, confiscation and radiation events.
The price is calculated individually based on the property, its appraised and insurable value, condition, term, selected risks, deductible, payment schedule and beneficiary bank requirements.
The sum insured is recorded in the contract schedule and agreed with regard to the property value and mortgage terms. If it is below the actual value, indemnity may be reduced in proportion to the ratio between the sum insured and the property value.
The contract takes effect after it is signed by the parties, provided the premium or first instalment is paid on time. If payment is late, the insurer’s payment obligation begins only after the payment is credited.
Typically, we need the parties’ details, loan and mortgage agreements, bank requirements, a property description and address, a valuation or agreed-value statement, preferred sum insured, term and deductible. A specialist may request additional information or an inspection.
Take reasonable steps to reduce the damage, contact the relevant emergency services, document the damage and inform the insurer immediately. Keep the property in its post-incident condition when this is safe and does not increase the loss.
The contract requires immediate notice, but no later than three days. A written claim must be submitted within ten days. It is safer to notify the insurer and submit the written claim as soon as possible.
For damage, necessary repair costs are considered within the sum insured, less the deductible. Improvements, temporary repairs and expenditure beyond what is necessary to restore the property are not included.
Once the cause and amount of loss are established, the event is recognised as insured and the report is signed, payment is made within fifteen days, provided the required documents have been submitted.
After early repayment, the contract may remain in force until the end of the insurance period, with the policyholder becoming the beneficiary. The exact procedure should be agreed with the insurer and bank in advance.
Tell us about the property and mortgage transaction, and a specialist will help prepare individual terms.
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