Home Insurance in Spain

Why do you need Home Insurance ?

If you have a mortgage, your lender is most likely going to require that you have homeowners insurance, . That's because the lender wants to be sure its financial investment in your home is protected should it be damaged or destroyed by a fire or certain other risks.

However even if you do not have a mortgage on your home as you own it outright or you rent your home you should still ensure you have insurance cover to protect your own financial investment and property.

Imagine if you had a flood or fire as a homeowner or a tenant just how much it would cost to put things right and buy new personal, household and electrical items.

Main cover

The main 'perils' of home insurance are as follows:*

-Fire

-Lightening

-Aircraft / Collision

-Explosion

-Civil commotion

-Storm

- Floods

-Malicious damage

- Earthquake

-Theft

* Please note in certain circumstances claims may be covered by the 'Insurance compensation consortium'.

Covered extraordinary risks include earthquake, tidal waves, volcanic eruptions, storms with gusts of over 120km an hour and tornadoes and falling of astral bodies.

Also events such as terrorism, rebellion riot and civil unrest and acts of armed forces in times of peace

You should always ensure you choose an insurance company that are prepared to help you follow up with the 'ICC' should the need arise.

Cover

A standard homeowners policy helps provide protection for your house, it also extends to more than the main structure of your home. From your personal belongings to outbuildings and more.

• Your dwelling - If your home and attached structures, like a patio or or swimming pool, are damaged by a main peril, this helps pay for repairs.

• Personal property - This helps to pay to replace belongings such as furniture and electronics, that are stolen or damaged by a main peril.

• Additional living expenses -f you cannot stay in your home after a fire or other covered risk, your insurance cover helps pay for temporary increased living costs, such as hotel bills.

• Public Liability - Your policy will also include an element of public liability This covers If you or a family member are found legally responsible for accidentally damaging someone else's property or injuring someone, the liability cover help pay for related repair costs, legal fees and medical bills.

It's important to note that all cover has limits — the maximum amount your policy will pay out in the event of a claim.

With regards the buildings sum insured this is calculated by the m2 of the main property and the m2 of land that is built on such as pools, patios and terraces. It is very important to ensure this is calculated correctly.

It is also just as important that you calculate the contents sum insured correctly. Go from room to room to calculate everything within that room. The easiest way to explain contents is 'anything that if you turned the house upside down would fall out'

If you do not have a policy with the correct sums insured this can cause issues in the event of a claim whereby an amount can be deducted based on the calculated under insurance - This applies to both buildings and contents.

Security

Even though you take home insurance you should still ensure it is protected at all times - This is where the security of the property comes into play.

When answering questions with regards the security of the property please ensure you are accurate as incorrect information can be the cause of claims to to rejected in the event of a theft claim.

Remember theft cover is always by 'forcible or violent entry' so if you leave a door or window unsecured theft cover would not apply

Extras

Extra covers offered by an insurer may include accidental damage, freezer food, valuables, legal cover, DIY support, Cover outside the home, IT support, Water consumption loss, Solar panels, garden reconstruction and more .

Some of the above you will find are included for free some attract an extra premium.

Home insurance is the kind of thing you hope you never have to use, but if you need it, it's invaluable. Whether it pays for natural disasters, such as flooding or lightning damage, or man-made problems, such as fire, vandalism or theft, home insurance can get you back on your feet and give you back a normal life after your house or possessions are damaged or lost.

Having a home insurance policy won't prevent damage to your home or belongings, but it may help provide a financial safety net should the unexpected occur. crisis — knowing that your homeowners insurance may help cover the cost of damages and get on your feet again.

To request a no obligation quote click on the following link

https://goo.gl/1bHRJe