Property Structure Insurance

Owning property in Israel: for many, it’s a dream come true. But along with the dream comes the reality that, more often than not, you are entirely dependent on this property to shelter your family. While damage to the physical structure of the property from natural causes like fire, flooding, earthquakes, or from human causes like terrorism or vandalism, may be uncommon, these things do happen, and can leave devastation in their wake.

Property structure insurance is there to protect you and your family from potential loss if such an event arises. Get a free, no-obligation consultation with someone from our team who can help guide you to the best property structure insurance plan for your needs.

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Property structure insurance is calculated in two possible ways:

Rebuilding Value Insurance

This basic coverage includes the cost of rebuilding the structure in the event of total damage, giving you the ability to rebuild your structure on the property or land that you already own. The disadvantage in insuring the rebuilding value is that the rebuilding of the structure may be delayed or dependent on your neighbors’ ability to rebuild, since if you’re sharing an apartment building, you share walls and structure, and therefore potentially costs for those shared assets.

Market Value Insurance

This more comprehensive coverage covers the market value for which the structure is insured. In the event of total damage, the insurance company takes ownership of your property, giving you the ability to take the money from the claim and purchase another property at any location.

It’s critical to choose the right type and level of insurance for your property structure so that you can be assured that you’ll have appropriate shelter for your family, no matter what the eventuality. Get a free, no-obligation consultation with someone from our team who can help guide you to the best property structure Insurance plan for your needs.