The question "is it possible to refuse insurance onloan "is currently very relevant for many borrowers. However, some ask this question before you get a loan, and others - after. In this case, the situations are equal.
What is insurance cover necessary for?
Today financial institutions offervarious lending programs, ranging from ordinary consumer to mortgage. Some may think that with a consumer loan, insurance is completely unnecessary, and they are looking for different ways to refuse insurance on a loan. However, refusing, it is necessary to understand that at this moment you become a borrower risky for the bank.
Insurance must be clarified in advance.
In many cases, all the answers to this question are alreadyprescribed in the loan agreement and the insurance contract. Therefore, after signing in most cases, it is too late to think whether it is possible to refuse insurance on a loan. Therefore, when choosing a loan program, you must familiarize yourself with the loan agreement in advance and consult with the manager on all issues. First of all, you need to know the conditions of insurance and the amount of the premium on all terms of lending.
If the loan agreement states thatinsurance is not necessary, find out whether it is possible to cancel insurance on a loan immediately before signing the contract, and how this refusal will affect the interest rate.
Avoid property insurance fails
According to many lawyers, according to Article 935Civil Code of the Russian Federation, a citizen may be imposed obligations related to the insurance of the acquired property. Article 31 of the Law "On Mortgage" stipulates that the borrower must ensure the insurance protection of his apartment (purchased on credit) against possible risks. In connection with the introduction of this law, no one can refuse to take out mortgage insurance.
Waiver of this type of insurance can servereason for denial of credit. Some banks are ready to offer alternative programs. For example, some people ask to arrange insurance only for constructive elements, others, by a significant increase in the interest rate, do not require any insurance contract at all. The difference in rates can sometimes reach 10% per annum. It turns out that it is more profitable to insure your own property against mandatory risks.
Is it possible to refuse insurance on a loan through the court?
If after signing the loan agreement youLearning about compulsory insurance, without which the bank refuses to provide borrowed funds, you can go to court. In this case, you need to make a claim in which you need to express your own request to return the money. Today, the imposition of non-mandatory insurance services is a common financial violation.
In the judicial order, if there is documentary evidence, you can return the money for insurance.
