What are the basic covers in a home insurance policy?

Before choosing your home insurance, you need to know what are the basic covers that all insurance policies must have:

• Damage to the building: that is to say, everything that forms part of the structure of the house such as floors, ceilings, installations, windows... If there is damage to any of these elements, the insurer will take care of the repairs. You have to be alert to check which causes (fire, flood, theft...) are covered by the insurer.
• Damage to the contents: in this case, what is insured is everything that is inside the house such as furniture, electrical appliances... 
• Civil responsibility: this is very important, as it covers the repairs or compensation that may be necessary in the event that the insured person causes damage to other people. An example would be the case of a leak between neighbours. 
• Legal defence: in the event that you need it in case someone else has caused damage to your property and you have to claim for it. 

Multi-risk insurance: pros and cons

The leaky sink, dampness in the ceiling, a small fire in the kitchen, the windstorm that destroys the roof... There can be multiple causes for which to report to the insurer. Therefore, you have to be very aware of what your insurance covers and above all, what is left out of the list.

Multi-risk insurances are the most common insurances and their policies detail everything that is covered and what is not covered in case of damage and damages. Because of its name, it seems that it covers everything, but this is not the case, which is why it is important to check and assess before taking out insurance for your home.

Usual list of incidents that are usually covered:

• Fire, smoke, lightning strike or explosion.
• Impact of aircraft and spacecraft
• Impact of waves or sonic detonations
• Impact of objects or animals coming from outside and not belonging to the insured person.
• Non-extraordinary flooding, for example, due to the overflowing of large pipes or ditches.
• Power surges or short circuits.
• Burglary in the home with access by means of force or violence or intimidation of persons.
• Theft, i.e. theft without violence or threat, inside the home.
• Burglary outside the home with the use of violence or threat.
• Change of locks due to theft of keys that may lead to undesired events. 

Usual list of incidents that are not usually covered

• Meteorological phenomena with rain and wind that do not exceed a certain intensity or with other factors (open window, etc).
• Water leaks if in certain cases with the absence of the home for a certain period of time.
• Water damage due to freezing or rusting of the installation, as well as 'inherent defect of the object'.
• Damp due to condensation
• Breakage of objects that are not property of the insured person and are in his possession.
• Theft outside the home. That is to say, robbery without violence.
• Damage due to extraordinary risk occurring in the following 7 days to insure for the first time.

Keys to choose the best insurance

1. Seek advice. A professional who can recommend you the best according to the needs of your home.

2. Search and compare. Don't take the first option, there are many possibilities on the market and one of them is sure to adapt to what you are looking for.

3. Be very clear about the final instalment you will have to pay and everything that is included, so that you don't have any surprises later on.

In Espígul Real Estate, we take care of finding the home of your dreams, we have more than 30 years of experience in the real estate and construction sector. If you want more information do not hesitate to contact us at hola@espigul.com or call us on 972 220 110.