A home is one of the most important investments. However, it is not immune to hazards and unforeseen incidents. These can happen at any time in your home. In order to protect it, taking out home insurance may be the right solution.
What is home insurance?
Fire insurance which is used to cover fires. Home insurance, on the other hand, offers more coverage. It protects a family heritage against damage to your property. The sources of the damage can be multiple, namely fire, theft, storm, vandalism, etc. This type of contract also covers civil liability.
When should you take out home insurance?
You must take out home insurance if you rent movable or unfurnished property. For good reason, you are responsible for the damage and their repair remains your responsibility. In order to cover any damage, it is your duty to take out at least insurance with a rental risk guarantee. Home insurance covers damage caused by an explosion, fire or water damage. In addition, if you are in seasonal rental, you are not obliged to take out home insurance. On the other hand, you must compensate the owner in the event of damage.
For owners of a shared apartment, it is recommended to take out fire insurance. Each roommate can subscribe to the contract individually. If you have applied for a mortgage loan, the lender often asks for insurance. The latter saves you from spending a large sum to repair the damage in the event of an incident.
How much does home insurance cost?
The cost of home insurance is set by your company. The amount of the contribution is calculated according to many criteria, namely:
- The place of residence;
- The use of materials likely to present a higher risk;
- The value of the house and that of the goods;
- Your status, i.e. owner or tenant;
- The area of the house;
- The guarantees requested;
- The taxes ;
The amount of deductibles.
Your insurer provides you with a risk declaration form. You must complete it when taking out the contract. If you want to know how much home insurance costs, you can use a simulation. The insurance company can increase the premium if the contract indicates a revision clause.
Who should pay for home insurance?
The payment of this insurance is the responsibility of the tenant. The latter is responsible for protecting the accommodation against rental risks. Failure to comply with this contract may terminate the rental. Each year, the tenant is also obliged to give a certificate of insurance to the owner.
What does home insurance cover?
Whether you are an owner or a tenant, home insurance offers you the possibility of benefiting from compensation from the insurer in the event of an incident or claim. Insurance companies offer several options. In general, this contract covers most property damage.
- The fire guarantee: fire, lightning, explosion… there are many causes of a fire. This guarantee therefore makes it possible to cover this loss.
- The water damage guarantee: it allows you to be compensated in the event of damage caused by water leaks, overflows, etc. in your accommodation.
- The theft guarantee: it covers objects and property damaged and stolen during a burglary. To obtain coverage, you must provide proof of loss to your insurer.
- Natural disaster cover: this allows the policyholder to benefit from coverage in the event of damage caused by climatic events and natural disasters. It can be an earthquake, a storm, a landslide, a mudslide, etc.
- Home insurance can also include liability coverage. This guarantee covers bodily injury or material damage caused to third parties. If you want to protect your entire home and belongings in the event of a claim, it is better to opt for multi-risk insurance. This type of contract offers interesting additional guarantees. It covers in particular valuables, household appliances, embellishments made in the home, furniture, etc.