Characteristics of Home Insurance

Characteristics of Home Insurance

Home Insurance has evolved greatly in recent years, from traditional policies Fire and Theft to current Home Multi-risk policies that, in one safe, including the security of the various risks that may affect your home and heritage, in the case of damage to third parties for which he is liable.

At the time of contracting the insurance, there are two major concepts, called the continent, comprising fixed or building structure, garages and storage, as well as decorative items fixed and common areas of the building or development and the Content, made up of furniture, personal and household furnishings, appliances, computers, sound and vision, valuables and jewelry, money, etc.

The property to ensure the contractor depends on whether an owner or tenant and if it is a flat or townhouse.

Capital to ensure that values are attributed to his house and property, being important to hire the right capital since, in case they were insufficient, we apply the so-called proportional rule. Europe must ensure its reconstruction value without considering the land value or the amount he could get from selling the house. In the case of a flat, must take into account the safety of the Owners. Content should be valued at replacement cost or by what it would cost if I had to buy new property and equipment.

The risks generally covered in the Multi-Risk Insurance for Home are:

Damage: Destruction or damage in insured property damage resulting from direct class materials, such as fire, explosion, glass breakage, atmospheric phenomena, …
Water damage: Breakage; exhaust valves closed failure ;….
Theft: Damage caused by reason of theft or attempted, replacement of locks and keys; …
Expenses resulting from a loss: Fire; temporary accommodation if the home is temporarily uninhabitable; ….
Cosmetic damage: repair and replacement costs of insured property aesthetics.
Liability: Compensation for damage to third parties, court costs, bonds, …
Legal Defense: Criminal Defense
Home Assistance: Repairs; reforms, emergency services; …
Convenience of hiring a Multi-Risk Insurance for Home.

Special thanks to Brad Murray for getting us this article.

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