- 25 February, 2021
- Posted by: Fincas La Clau
- Category: Fincas La Clau
Whether you own a home or rent, you should consider the need to have home insurance to avoid having to face certain expenses when an accident occurs.
Although in our country having home insurance is not mandatory, unless the property is mortgaged, the majority of Spanish households take out home insurance in order to have the security and peace of mind that it will be covered against any breakdown or damage that may occur in the home.
Types of home insurance
There are different types of home insurance policies depending on the risks that are covered, and although different modalities can be found, depending on the type of home or specific needs, in general, there are three types of insurance:
- Damage policy: this is the most basic policy and it is usually the one that is usually contracted in the event that a mortgage is applied for, since the law requires having a damage policy in the event of a mortgage loan .
- Multi-risk policy: this policy is the one that usually covers what is called the container (which is the structure of the house) and the content (which are all those objects and fixtures, including furniture and goods that the house contains). This multi-risk policy also includes coverage for civil liability, that is, any damage that may be caused to a third party and has a series of basic coverages including: coverage for fire, atmospheric phenomena, water damage. , electrical damage, cosmetic damage etc.
- Loan amortization policy: this is what comes to be life insurance, which is also linked to a mortgage or personal loan. It is not mandatory to hire it but it is always recommended to be covered in certain situations. It is a fairly basic policy that usually guarantees capital in the event of death or permanent or absolute disability.
How to choose home insurance
To be able to choose the home insurance that best suits our characteristics and needs, in addition to going to a professional who can advise us, certain aspects must be taken into account:
Make a good assessment of both the container and the content
With the aim of not falling into underinsurance, that is, that the value of the insured capital is less than the replacement value, and therefore, in the event of an accident, the damages are not fully covered.
Choose the coverage well
We must check which are the basic coverages that cover the most frequent damages and adapt those additional coverages to the particularities of our home.
Although many policies make payment of compensation to compensate for any breakdown or accident in the home, it must be taken into account that there are policies that do not make compensation ‘new’, this means that they will discount the value of the depreciation suffered in the objects over the years that have been insured.
Know the grace period and exclusions
There are companies that impose a grace period, that means that during a period of time the policy will not be effective and therefore, it will not cover any damage that occurs during that time, also, all the exclusions that appear must be taken in to account in the insurance policy.
In order to choose a suitable insurance, it is very important to review the entire existing offer and check both the prices and the coverages that the different companies include in order to choose the most appropriate insurance for you.
At Fincas La Clau we have been home insurance agents since 1982 and we are dedicated to providing services to both the homeowners’ communities and individuals.
We offer independent advice and an agile and efficient service, putting at your disposal a wide variety of possibilities to choose the insurance that best suits your needs.Our more than 20 years of experience in the insurance market allows us to offer you personalized products adapted to your budget so that you do not have to worry about anything