News

Whether buying or renting a property, the housing should be covered for possible damages that may occur to them or be cause by third parts. Taking out a home insurance is an issue not to be ignored. But which one suits you? Please find below Hermes & Mathew advice.

There are many risks faced by tenants or homeowners, which go from possible water leakages, short circuits, glass breakages, thefts, fire, etc. Damages or losses that usually derive from them may end up, representing high economic amounts which can be triggered even more when a third party is also affected. Home insurance is in these cases, the help to minimize the consequences by giving coverage, care and support.

Before hiring a home policy it is important to consider all different modalities offered by insurance companies, in order to choose the one which best suits our needs.

Home insurance. Converage types

In general, the differences between one home insurance and another are given by the amount of coverage offered which will ultimately affects,

– The container. This mainly refers to all the structural elements of a property such as roofs, floors, walls and also the gas, electricity or heating installation. Walls, ceilings, floors, or other facilities such as heating, water, or electricity, are also included.

–The content. In this case, all the assets inside a property owned by the insured or the tenants who inhabit the housing should be included. That is, furniture, appliances, lamps, paintings, jewelry, computers, etc. are incorporated within this concept.

– Civil Liability. This covarage has to do with damages caused to third parties, for example, your neighbors as a result of a problem in your home (water leakage, fire damage, etc.). In this case, insurance companies respond economically by indemnifying the third party affected.

Home insurance. Main modalities

Most insurance companies include their different home insurance policies in three different types,

–Basic home insurance. This policy is especially recommended for owners who have a property, but do not live there on a regular basis. As a general rule, the coverage offered meets the main needs which have to do with the continent and Civil Liability is included.

–Multi-risk home insurance. It is one of the most complete as container, continent and Civil Liability are included. In case of having any kind of incident, even caused by a third party, everything would be covered and the cost of the repair will be assumed by the insurance company.

Among other damages covered by multi-risk home insurance are fire, smoke, explosion, destruction by vandalism, theft or robbery, breakage of mirrors, glass, electrical damage, stand out. In addition, there are usually other complementary services included such as 24/7 assistance, legal protection, medical emergencies or computer assistance.

–All risk ensurance. It is designed to meet the needs of the most demanding owners and tenants. It is the most complete policy, with practically all coverage at all times, with the best protection against any misfortune. It also offers added services such as legal assistance, 24-hour assistance, etc.

If after reading all these tips there are still doubts, at Hermes & Mathew we can also offer more advice about the policy that suits you best depending on the property you purchase. And also bear in mind that there are more specific modalities for rental or tourist licensed properties.