Insurance for properties coming from donation
I have already written a post to explain what are the problems arising from the purchase of a donated home and you can read at the following link Building with purchase through donation – practical solutions
In this article, I proposed two insurance forms that protect the buyer or the mortgage giver.
Currently the ones I know are Easy Donation and Sure Donation (click on the names to access their websites, in Italian).
This time I prepared an infographic to group all the most important features, common to both insurance.
I predict that soon, other companies will choose these insurance formulas, then there will be more brands, I limit myself to list the first two that I have known and studied.
Also, I think it’s important to know that for the whole duration of the policy, the original insured amount can be adjusted(by adjusting it, the market value changes) and that the policy can be selected at any time, at the time of donation or later, when needed.
But how much it costs?
The cost of insurance varies of course depending on the property value, it is obviously better to ask for a quote, but to give you an idea, for a property of 250,000 € the policy has a premium of approximately 0.4% of the value of the sale, to be paid once. The higher the price of the home, the lower this percentage.
The notary Vanina Gatti held a conference about at the headquarters of Verbania of the Italian Federation of Professional Estate Agents, you can find the slides of her course (in Italian) at the following Donazione – Conferenze Notaio Gatti
Please forgive me if my English level does not respect the importance of the topic discussed, for any information please write me firstname.lastname@example.org
Alice – www.ortalloggi.com