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Mortgage insurance

Mortgage insurance (property transferred under a pledge) is conducted in accordance with the Civil Code, of the Republic of Uzbekistan, of RUz Law "On insurance activity" from 04.05.2002y., of RUz Presidential Decree № PP-10, "On further development of housing construction and the housing market" since 02.16. 2005., of RUz Law "On Mortgage» № 3RU-58 since October 4, 2006. 

The issue of housing – today is one of the most relevant for each person. And bank credit is becoming more popular way to resolve it. But crediting the so important acquisition of the Borrower, as an apartment or a house, the bank requires guarantees of repayment of funds provided. Therefore, a prerequisite for obtaining a mortgage loan is the insurance.

 
For customers of SJSIC "Kafolat" (JSC) on the mortgage terms assumed on mortgage insurance for insurance of the following objects:
- Property interests related to the possession, use and disposal of property.
- Property taken by the bank bail:
- Building.
 
In the framework of mortgage insurance the property is foreseen for insurance as the subject to collateral against such risks as:
- Direct losses from the physical loss of or damage caused to insured property, which occurred as a result of:
- Fire;
- The explosion;
- The storm;
- Hurricane;
- Shower;
- Collapse;
- Land subsidence;
- Landslide;
- The action of groundwater;
- Mudflow;
- A lightning strike;
- Earthquake;
- Hail;
- Heavy snowfall or frost;
- Burglary;
- The fall of the machinery, building materials and structures;
- Aircraft;
- Accidents heating system, water supply and sewerage networks;
- Break through the internal plumbing systems;
- Intentional misconduct of third parties.