Category: Insurance tips Release Date: 2006-08-01
One carrying a monopoly of color born of financial products in the market economy environment, quiet transformation, personal housing mortgage insurance turn the fate of becoming another example of validation of this rule.
Race to cut prices
Beijing individual mortgage insurance market in the fourth quarter of last year to break the ice and started a revolution.
First People's Insurance Company Beijing Branch announced the reform of the earlier terms of the housing mortgage insurance, a new provision to break the past price to buy the insurance in accordance with laws and regulations, but can be used into buyers cost, purchase price, appraised value, market price, the loan amount, or other price to buy insurance, the new regulations, terms and conditions than in the past have become complex, but the decline in overall insurance costs. For the purchase of a 100-million housing loan 500,000 yuan as an example, calculated that if the insured far as personal loans mortgage home insurance comparison, after the reform than before the decline in premiums of about 950.
People's Insurance price cuts gain an advantage over Beijing mortgage market, the other two forces? ? CPIC and Ping An Qi Ken Gan fall behind, the sound hardly ever lower prices PICC, CPIC on the launch of a new program, the end result is still lower prices, according to the new program Taibao personal mortgage insurance, the rates generally from 5 � 6 ᾿down to 3 � 4 �
Personal mortgage insurance, the very day of its birth, it was banks, the insurance industry as a way for the housing, financial services to consumers special varieties, insurance companies are born with a monopoly of consciousness, but never hesitated. However, the advent of reform, after all, the driving force behind this change is a personal mortgage insurance market pie in recent years expanded.
Problems still exist
To break the monopoly, so that individuals show their true colors only the first step mortgage insurance, personal mortgage insurance, the road will go in the future then?
"It's personal mortgage insurance also have not really involved in credit risk, even in the loan repayment insurance, contents insurance is also very limited." Said an insurance company. It is said that according to the current terms of each company, housing, insurance coverage was simply: fire, explosion, burst water pipes, lightning, heavy rain, floods, typhoons, cyclones, Leizai, hail, icicle, landslides, cliff collapse, sudden landslide , the ground suddenly subsidence, falling objects, as well as running the air outside buildings and other fixed objects, such as disasters, the collapse of the housing losses, even in the loan repayment guarantee insurance, the People's Insurance Company of protection include: death due to accidental injuries caused by accidents or disability, as well as the insured people are missing after being declared dead people's court, while the Pacific Insurance Company to protect the content is more narrow, and only to protect the former, "a result of injuries suffered due to accidental death or disability," does not include the latter referred to missing and so on.
Strictly limit the use of insurance to protect the content is due to the insurers take into account the greater risk in this area, "now that I have had personal mortgage insurance, insurance is divided into two terms, one is a personal housing mortgage loan insurance is to protect the property loss (loss of housing), including the credit aspects, and the second is a comprehensive personal housing mortgage loan insurance. "PICC said Miss Yang Rong, North points.
Who should pay for what to buy individual mortgage insurance section is another disputed issue, the current policy, said those who hold negative views of the insurance, intended to avoid risks for the bank mortgage, why should the consumer to pay. Insurance companies that "In the West, due to banks under a floating exchange rate system, it is not on the insurance buyers will enjoy different interest rates, but the current domestic fixed exchange rate system, so under normal circumstances by buyers to pay the insurance fee, which has become a practice. "
