Mortgage insurance appeared in the late 1950s. Its appearance is to provide more protection for mortgage loans and prevent mortgage loans from defaulting. Under the protection of this kind of insurance, the borrower can use the loan funds to buy a house without worrying about loan default. If the borrower defaults, the insurance company will pay the loan amount, thus protecting the mortgage lender, namely the bank.

What is real estate mortgage insurance? There are three main types of housing mortgage insurance.

According to the Measures for the Administration of Personal Housing Loans issued by the People's Bank of China, when handling personal housing loans, mortgage housing should be insured with housing insurance.

Housing mortgage insurance refers to the special housing loan insurance purchased by the borrower according to the contract when applying for mortgage loan. The insurer shall be liable for the property losses caused by the possible accidents stipulated in the contract. The insurance period of mortgage loan is from the date of mortgage registration to the date of paying off the principal and interest of the loan. The subject matter of the insurance is not less than the total principal and interest of the loan, and the first beneficiary of the insurance is the bank.

At present, there are three main types of housing mortgage insurance in China. One is comprehensive insurance, life insurance for borrowers and credit insurance for borrowers. The second is credit insurance, which combines the credit guarantee of housing enterprises with the mortgage guarantee of borrowers; The third is collateral property insurance.

How to apply for a policy mortgage loan?

A policy mortgage is a policy loan. Policy loan refers to a loan method in which the insured mortgages the policy he holds to the insurance company and obtains funds according to a certain proportion of the cash value of the policy. Since the customer's insurance protection is not affected in this process, the policy is still valid. Loans are recommended by Mo Long, which are aimed at groups over the age of 25-55 who need large loans, as well as non-online lending groups, such as flowers and flowers, small degrees, etc. Students and groups need to be excluded.

Policy loan application conditions:

1, the policy is valid for more than 6 months;

2. Insurance with monthly premium above 200 yuan (that is, the annual premium is not less than 2,400 yuan);

3. Other conditions stipulated by the bank.

Application materials that the lender needs to prepare:

1, ID card;

2. Work certificate;

3. proof of address;

4. Insurance policy (three copies can be superimposed);

5. Other materials specified by the bank.

For more information about loans, please consult Mollon. Mo Erlong not only has three promises: employees are strictly forbidden to collect sincerity money privately; Do not require customers to pay liquidated damages; There is no extra charge for standard service. There are also eight guarantees: the safety of funds comes from licensed institutions; Professional loan assistance, 0 down payment without routine; Customer first, honesty as the rest assured; Refuse to disclose and protect your privacy; Legally operate and provide formal invoices; Post-loan management, guarding personal credit information; Open and transparent, all business can be checked; Adhere to integrity, do not make false promises, and have a high reputation in the same industry.

What is personal loan mortgage in home insurance?

Personal loan mortgage in home insurance refers to material losses and related expenses caused by fire, explosion, typhoon, hail, rainstorm, flood and other reasons, and insurance companies can be responsible for claims settlement.

After 2004, the mortgage insurance was upgraded to comprehensive mortgage insurance, also known as comprehensive mortgage insurance or mortgage insurance, and the repayment guarantee clause was added: if the borrower died or was disabled after an accident, the insurance company could be responsible for repaying the remaining loan principal.

After 2004, various localities upgraded mortgage insurance to comprehensive mortgage insurance, referred to as "comprehensive mortgage insurance" or "mortgage insurance", and added repayment guarantee clauses: when the borrower dies, is disabled or loses repayment ability due to accidental injury, the insurance company will repay the remaining loan principal.

Content editing and broadcasting

The contents of housing mortgage insurance include:

(a) the object of insurance, that is, the owner of the house who handles the mortgage loan;

(2) Insurance property, mainly houses purchased by mortgage loans; Other related properties attached to the house due to decoration and purchase are not covered by insurance;

(3) The insurance period is consistent with the loan period. During the mortgage period, if the borrower interrupts the insurance, the loan bank has the right to provide insurance on behalf of the borrower, and all expenses shall be borne by the borrower;

(four) the amount of insurance and insurance premium, the amount of insurance is determined according to the fixed price of the house purchased, and the insurance premium is charged once a year;

(5) Obligations of the insured.

(6) Compensation for losses.

Editing and broadcasting of insurance clauses

Insurance property

A house purchased by a purchaser through a bank mortgage.

scope of responsibility

The insurance company shall be responsible for the compensation for the material losses and expenses caused by the following reasons:

1, fire;

2. explosion;

3. Lightning;

4. Hurricanes, typhoons and tornadoes;

5. Storms, rainstorms and floods; However, it does not include the change of normal water level, seawater intrusion and discharge from reservoirs, canals and dams below normal water level;

6. Hail;

7. Landslides and landslides;

8. Volcanic eruption;

9. Land subsidence, but excluding land subsidence caused by piling, underground operation and excavation;

10, flying objects fall and fixed objects such as foreign buildings collapse;

1 1, bursting of water tank and water gate, but excluding bursting of water tank and water gate caused by corrosion.

Excluded liability

Our company is not responsible for the compensation for the following items:

1. Any losses and expenses caused by intentional acts and gross negligence of the insured, the insured and their representatives;

2. Losses and expenses caused by the earthquake and tsunami;

3, devaluation, loss of market or use value and other consequences;

4. Losses and expenses caused by war, similar acts of war, hostile acts, armed activities, rebellion, coup, riots and civil strife;

5. Confiscation, requisition, destruction and destruction by government order or any public authority;

6. Any losses and expenses caused by nuclear fission, nuclear weapons, nuclear materials, nuclear radiation and radioactive pollution;

7. All kinds of losses and expenses caused by air, land, water pollution and other kinds of pollution, but excluding the risks listed in Article 2 of this insurance policy;

8. The exemption amount stipulated in the relevant clauses of this insurance policy schedule that should be borne by the insured;

9. Losses caused by other risks not listed in Article 2 of this insurance policy.

10, man-made loss

Insurance period

The term of the house purchase loan remains unchanged.

insurance

It is the actual total value of the house purchased.

Compensatory therapy

1. In case of loss within the scope of this insurance, the Company can choose the following methods to compensate:

(1) Compensation according to the value of the damaged property;

(two) to pay the cost of repairing and restoring the damaged property to its original state;

(3) Repair and restore the damaged property to make it basically consistent with similar property.

2. The compensation loss of the damaged property shall be calculated according to the current market price. When the market price is lower than the insured amount, the compensation shall be calculated according to the market price; When the market price is higher than the insured amount, the compensation shall be calculated according to the ratio of the insured amount to the market price. If there is more than one item in this insurance, the compensation amount shall be calculated item by item according to these provisions.

3. If the company pays the total loss after the loss of the insured goods, the residual value shall be deducted from the indemnity, and the company has the right not to accept the abandonment of the damaged property by the insured.

4. If there is any loss of a pair or set of articles, the company's liability for compensation shall be based on the whole pair or set, and shall not exceed the proportion of the damaged articles in the insured amount.

5. The Company shall compensate the reasonable expenses incurred by the insured after taking necessary measures to reduce losses, but the expenses shall be limited to the insured amount of the insured property.

6. After the company compensates for the loss, it will issue an approval to reduce the insurance amount from the date of the loss, and the insurance premium will not be refunded for the reduced amount. If the insured requests to restore the original insurance amount, he shall pay the insurance premium calculated on a daily basis from the date of loss to the date of termination of the insurance period according to the agreed insurance rate.

7. The claim period of the insured shall not exceed two years from the date of loss.

accountability

The insured and its representatives shall strictly perform the following obligations:

1. When applying for insurance, the insured and his representative shall make a true and detailed explanation and description of the matters listed in the application form and other matters proposed by the Company;

2. The insured shall pay the insurance premium in one lump sum when insuring;

3. During the insurance period, the insured shall take all reasonable preventive measures, including seriously considering and implementing the reasonable loss prevention suggestions put forward by the company's representatives, and all expenses arising therefrom shall be borne by the insured;

4. In case of losses that cause or may cause claims under this policy, the insured and its representatives shall:

(1) notify the company immediately, and provide the course, cause and loss degree of the accident in the form of a written report within seven days or within an extended period agreed by the company in writing;

(2) Take all necessary measures to prevent further expansion of losses and minimize losses;

(3) Keep the scene of the accident and relevant evidence before the investigation by the company representative or inspector;

(4) According to the company's requirements, provide all supporting documents, materials and documents as the basis of the claim.

special agreement

During the insurance period, after the buyer pays off the loan, the lender issues a certificate, the lender's insurance rights and interests are lost, and the insurer issues a letter of approval, and the insurer continues to be responsible.

settlement of dispute

All disputes concerning this insurance between the insured and the Company shall be settled through friendly negotiation. If negotiation fails, you can apply for arbitration or bring a lawsuit.

What are the requirements for purchasing mortgage insurance for personal first-hand housing loans of China Bank?

Purchase of Mortgage Insurance for Personal First-hand Housing Loan of Bank of China;

Borrowers can purchase mortgage insurance on a voluntary basis. To purchase insurance, it is necessary to transfer the insurance benefits enjoyed by the insurer under the policy due to the occurrence of insurance events to the lender, and the original policy shall be kept by the lender during the mortgage period.

Due to the differences in business in individual regions, please consult the bank branch for details. You can also enter the bank's online customer service manual service and call the bank's customer service hotline 95566 (please call 86 10-95566 for overseas and Hong Kong, Macao and Taiwan) for consultation.

The above contents are for your reference. Please refer to the actual business regulations.

Insurance purchase of personal consumption automobile loan collateral in China Bank

If the borrower applies for a loan with the purchased vehicle mortgage or (and) the property mortgage other than the purchased vehicle as the guarantee, the handling bank shall require the borrower to apply for collateral insurance.

1. The insurance period shall not be shorter than the loan period, and the insurance amount shall not be less than the sum of the loan principal and interest. The handling bank shall be the insurance beneficiary.

2. During the validity period of the insurance, the handling bank shall require the borrower not to interrupt or cancel the insurance for any reason; If the insurance is interrupted, the lender has the right to take out the insurance on its behalf. In case of damage beyond the scope of insurance liability, the handling bank shall reconfirm and implement the borrower's loan guarantee.

3. For the insurance during the loan period, we should strive for one-time insurance. In the case of underwriting only the insurance of the current year, the handling bank shall require the borrower to provide certain guarantee methods for the insurance of the next year.

4. If the purchased vehicle is mortgaged to provide guarantee, the handling bank shall require the borrower to at least insure the collateral against vehicle loss insurance, burglary insurance, spontaneous combustion insurance and third party liability insurance.

The above contents are for your reference. Please refer to the actual business regulations.