Kazakhstanis to start paying for real estate insurance in a couple of years
ALMATY. KAZINFORM Kazakhstani citizens will likely start paying for real estate insurance in a couple of years, as soon as the economic situation in the country stabilizes, Executive Director - member of the board of Salem Insurance Company Chingis Amirzhanov says.
“The adoption of the law on real estate insurance against natural disasters has been postponed for an indefinite period of time. To my mind, the law will be implemented in two or three years when the economic situation in the country stabilizes,”Amirzhanov noted in an interview with Kazinform.
According to him, payments will be obligatory only for the real estate owners. The law will determine also payment deadlines.
“We predict that the minimum amount of insurance premium per one apartment in Almaty will not exceed 5,000 tenge. The amount will vary depending on the apartment’s location, region and character of the building. The implementation of this norm allows to protect people and cover the damages caused by natural disasters,” he adds.
“Unfortunately, we are far apart from the model applied in developed countries. The citizens should think about safety of their housing and other assets. The amount of insurance premium will depend on the level of vulnerability and exposure to natural disasters,” says Chingis Amirzhanov.
Recall that Kazakhstan has been debating for several years the possibility of adopting the law on real estate insurance against natural disasters.