When you buy home insurance, you want to be protected from anything that happens to your home. However, not all insurance policies are the same. Discover the 5 essential covers you must have.
Although home insurance is not mandatory, it is important that you choose a policy that will give you the best possible protection for your building and contents. If you already have insurance, do you know what coverages you have or should have? Here we talk about the topic and present five coverages that the best home insurance has that might be more useful than you think.
Depending on the type of home you live in, you'll have to deal more or less with some specific benefits, but in general there are some basic ones when getting your insurance.
Basic protection of home insurance:
Personal Liability It is fundamental to any insurance policy and you may be familiar with this term when you associate it with car insurance. This is the guarantee by which third parties are protected from your actions and in the case of home insurance they would also be protected from the actions of the people living in the house itself. That means private liability protects your neighbors from the damage you might cause by: having a burst pipe, starting a fire, dropping a flower pot, or causing any other unintentional accident that may affect a neighbor's home.
Damage caused by meteorological phenomena: rain, strong winds, heavy snowfall ... Natural phenomena are practically unpredictable. In prone areas such as coastal cities, hurricane-prone areas, or areas with high snow concentrations, it is important that your insurance protects your home from accidents that bad weather could cause.
OVE (Objects of Special Value): This doesn't necessarily apply to everyone, but if it does, it's best if your policy is broad enough to protect your objects of special value: works of art, paintings, antiques or precious metals. It is important that you tell your insurance advisor at the time of contracting that you have items of special value so that they are properly insured.
Theft: One of the worst situations you can experience in your home is burglary. Not only because of the items that could be stolen from you, but also because of the feeling of vulnerability that this event usually leaves behind. If you're at risk of theft in your home, it's always a plus to have a good policy to cover you. Not just to compensate for the damage or replace your belongings, but because with a good policy you can even have access to psychological help if you need it.
Legal protection: Defending the insured against neighborhood situations or vulnerabilities as tenants is an increasingly important issue for insurance companies that also offer insurance coverage outside of the residential area, such as B. Labor law defence, tax defence, claims for damages and others.
Finally, remember that home insurance should not be chosen based on price alone. It is a necessary investment that complements your family protection and should therefore be as far-reaching as possible.