Insurance will be specified in the contract – Kommersant FM

Banks are now required to specify all insurance products in the loan agreement. The corresponding law came into force on October 1. This means that the borrower will be able to see the full cost of all financial services with overpayments and insurance premiums. The Central Bank, for its part, promises to strengthen control over the imposition of banking services and significantly increase fines for violators. Will this help eliminate excess insurance? And is it possible to reduce them? Aelita Kurmukova found out.

It is almost impossible to take out a loan without insurance, even a consumer loan. A loan is always a risk for both the bank and the client himself. But sometimes the borrower does not even know that there are, in fact, only two mandatory bank insurance products. You cannot refuse them.

For a mortgage, this is property insurance (against loss and damage), and for a car loan, it is MTPL. Everything else, even comprehensive insurance, is voluntary. But in practice, the same home loan can be covered with at least three more insurance policies. How much the borrower ultimately pays for this was calculated for Kommersant FM by the head of the analytical center of the Rusipoteka company, Sergei Gordeiko:

“There are three types of insurance that everyone should take out. This is loss of property, loss of ownership and life. Depending on age and gender – from 1% to 1.5%. Over-insurance or, as they say, “forced”, is, as a rule, life insurance with an inflated rate. Not the standard average for a young person – 0.7%, but 2%, 3% or 4%.”

So now banks will be required to register all these tariffs. And the borrower will be able to see not only overpayments on the loan itself, but also on all insurance products, including premiums. And that means choosing, notes the head of the ONF project “For the Rights of Borrowers” ​​Evgenia Lazareva:

“This innovation will open a person’s eyes to the fact that there are different types of insurance. You need to look at how much each of them costs and how much the payments increase. The second is to remember that if these conditions do not suit him, he can refuse the product that, for example, was imposed on him. And lastly, there is the right to choose which insurance services a person can use, that is, it does not have to be the company that the bank offers.”

But is it really possible to choose your own insurance company, even if it is prescribed by law? After all, most often this list is provided by the bank. And, as a rule, it offers the most expensive insurance, since the agent’s premium depends on it. It turns out that it is possible, assures Vice-President of the All-Russian Union of Insurers Viktor Dubrovin:

“You can ask the manager to explain everything, but it’s better to figure it out yourself. Nothing stops you from going to the bank’s mobile application, looking, and calculating. In some cases, it can actually be cheaper with insurance. Moreover, you can return everything, including insurance in loans. If the bank begins to create some conditions that are not entirely correct for you, your rate may change, you can return it within these 14 days or buy some other insurance that turns out to be cheaper. The main thing is to make sure that the other insurance is accredited by your bank.”

Borrowers now have more rights than the banks themselves, according to Kommersant FM’s interlocutors. And even manipulations in the form of increasing the interest rate on a loan in the event of refusal of voluntary insurance products do not mean anything. The main thing is to do everything in 14 days, during the so-called cooling period, reminds the head of the Kislov.Law law office, Sergei Kislov:

“If a bank says that it will terminate or change the terms of a loan agreement depending on how many types and volume of additional services taken, including if we are talking about an insurance agreement, then all this, of course, can have a negative impact at the financial institution itself. Courts of general jurisdiction stand up to protect the consumer. With good legal support, such a person can successfully defend himself before the bank and leave exactly the rate that was originally in the loan agreement.”

The regulator itself is on the side of the borrowers. Last week, Elvira Nabiullina said that the Central Bank may significantly increase fines for banks imposing financial services. And in some cases, even suspend the sale of certain products and demand a buyback. Currently, such violations are subject to a fine of 0.1% of capital, but not less than 100 thousand rubles.

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