Property in pledge / leasing
The program aims to protect the borrower's obligations to the credit organization.
Nowadays, Credit makes it possible: to solve various kinds of problems, meet current needs or implement interesting ideas, and sometimes, it even gives an opportunity to fulfill a cherished dream. In addition, for entrepreneurs, Credit provides an opportunity for the development of their own business.
Knowing the size of his earnings or estimated income, the Borrower, by contacting the Credit Institution, calculates the amount and duration of allowable payments for the Loan.
By issuing loans of large sizes, any bank wants to ensure their repayment, which can be come back with the help of real estate collateral, industrial equipment of the borrower or other types of property. The integrity of the collateral is in the interests of both the Borrower and the bank, but no one can guarantee it to you. The probability of partial or complete loss of property is very high. Risks can be of all kinds, from the borrower's negligence to damage from natural disasters and cataclysms.
In the event of a similar case with the borrower in addition to the obligations of the loan, there is also a need to restore the property.
Insurance organization "BIMA" offers a program of insurance of pledged property against fire and other hazards in case of partial damage or complete loss (loss) of property
The, main idea of the Program is, as follows:
If the insured property pledged under the loan suffers full or partial loss during the insurance period, the Insurance Organization will reimburse the losses incurred by the Insured in accordance with the terms of the insurance.
This allows the Borrower in the event of unforeseen situations to shift the burden of responsibility on the shoulders of the Insurance Organization, to avoid fines and penalties for the overdue Credit, financially not to burden their loved ones and get the opportunity to restore the lost property.
What will happen if an insured event occurs?
The figures in the calculation are conditional and are not a substitute for tariffs.
Estimated loan of 100,000 somoni for a period of 12 months
Insurance object: Property (for example, inventory)
Insurance amount: 100,000 somoni
Suppose that an insurance event occurred on the 7th month of the loan agreement
Insurance case: fire