Having your home insured, whether you are the owner or the tenant of a property, can give you a lot of peace of mind since there are various benefits of having a home insurance.
Home insurance is a contract that covers us for the different types of risks that can be caused in the building or in the goods that are in it.
In some countries, such as Spain, it is not compulsory to take out insurance, but it is highly advisable to contract one in order to avoid future unexpected costs that could lead to a major economic problem.
If you would like to know what the advantages of home insurance are, at BMI Spain we will tell you everything you need to know in this article:
Guarantees of home insurance coverage
This contract is designed to prevent situations where an unexpected event has occurred, and the consequences are hard to deal with in economic terms.
Movable goods are the objects that are part of the house but are not included in the structure. Because of their tangible nature, movable goods can be moved from one place to another without being damaged.
Some examples of movable property are televisions, clothing, jewellery, vehicles, furniture, artworks, etc.
Immovable goods are defined as those things that are part of a structure and cannot be moved without damage. Immovable property includes buildings, parcels, estates, garages, roads, or rights over the title of the property such as the right to buy, sell, lease, among others.
The Third Part Liability
One of the benefits of home insurance is that it generally covers the damage that has been caused to other persons or to other properties as for example in case of a fire.
benefits of home insurance
There are many advantages to taking out home insurance, these are the most important:
Home insurance protects our patrimony
The home is the result of years of hard work and dedication as well as being considered an investment. The benefit of having a home insurance is that it allows you to protect your home and all of the material goods that are inside.
In many occasions to afford a house we have to request a loan, for this reason when we contract a home insurance, we will protect this investment from numerous unexpected events such as earthquakes, thefts, fires, floods, among others.
The great benefit of home insurance is that if an incident occurs, the insurance company will be in charge of paying the expenses.
Home insurance as a guarantee of civil liability
One of the other benefits of home insurance is that it covers damage that has been caused to third parties, in other words, the insurance company will cover the costs of those contingencies that may have caused damage to third parties or to other properties.
Having a home insurance can avoid many problems with the neighbours.
Home insurance covers robbery and theft
In the case that you suffered some damage because of a robbery, such as the door lock being forced or damaged, or any other damage, many home insurances also cover this kind of contingencies in addition to the value of all the belongings that have been stolen.
On the other hand, other of the benefits of home insurance is that it can also cover damage that has occurred outside the home, such as theft or burglary that occurs in the street.
Home insurance covers all common incidents
There are some problems that are common in homes such as water leaks, water filtrations from the facade or inside the house, broken pipes, damage to electrical installations.
In these cases, the repairs are usually priceless, and this is why having a home insurance can be a great advantage, since the insurance company will be in charge of the expenses.
In most cases, insurance companies offer the possibility of selecting from different types of insurance coverage, in this way you can choose according to the type of home and needs you may have.
In some cases, we have to deal with extra expenses that we cannot afford due to the fragile situation that we are living in, which is why home insurance offers the possibility of covering additional expenses through the policy.
Legal and health assistance
The last of the great benefits of having a home insurance is that the insurance companies provide legal assistance services and take over the expenses derived from the legal assistance such as contracting the lawyers or the judicial taxes.
In many cases, they also include the transfer of the insured person or his family members by ambulance in the event of a serious accident.
How to take out adequate home insurance
To determine which Home Insurance is best for you, consider the following keys:
- Do a total valuation of all the goods in your home, both movable and immovable.
- Take out an insurance policy that provides full assistance, every day of the year and 24 hours a day.
- You have to define all the characteristics of your home: number of years of construction, the area where it is located or the square footage, among others.
- Depending on the amount you will pay, the policy will cover some contingencies. The more you pay, the greater the coverage.
Other solution to enjoy the major benefits of an insurance contract is to count on specialists who will help you find the one that best suits your needs.
At BMI Spain, we are specialized in insurance. You can count on us to find the company that has a policy that suits your needs and you do not have to worry about anything else.
If you have any questions, please do not hesitate to contact us, we will be happy to help you find the ideal home insurance for you and your family.