The second story which happened to a BTA client, but the insurance company refused to respond and comment on the situation.
Ludmila, in turn, who bought a summer cottage near Riga on credit, when signing an insurance contract, emphasized that she would like to include an additional flood risk in the policy, since the house is located near a river.
Once, when the river overflowed and flooded Ludmila’s summer cottage, the insurance company refused to visit the site and record the damage.
“It turned out that my summer cottage is insured against flooding, the one when, for example, a water leaking happens due to upstairs neighbours. But not from the floodwaters. Moreover, in the case of an overflow of the river, they qualified it as a “predictable flood”, in case of which the client is not entitled to anything. I just do not understand why is the insurance needed? – Ludmila wonders. – No, I will not play these games anymore! With a mortgage loan, real estate insurance is a must. Now I insured my summer cottage for the smallest amount possible, because I realized that if something happens, anyway, I won’t get anything. As soon as I repay the loan, I will no longer insure my summer cottage.”
(Source: newspaper “Миллион” (Million) No. 5, column “Важно знать” (Important to know), 07.02.2019.)
