In short
- The bank may require building insurance for the whole loan term.
- Assignment (cesja) means any payout goes to the bank first.
- A non-bank policy must meet the bank's requirements: sum, scope, assignment.
- Life insurance for a mortgage is usually optional but can lower the margin.
How assignment works
You buy the policy in your name and the policy or an annex assigns the rights to the bank. The bank receives the assignment confirmation and, every year, proof of payment.
How to save
- Compare the bank's policy with offers from several insurers — the difference can be significant.
- Check whether the bank accepts a policy for the full term or yearly.
- Watch the renewal date — a lapse may increase your loan margin.
Mortgages in our group
HipoCenter, our mortgage service, arranges the loan. We prepare the assigned insurance in parallel so it's ready for signing.