What does my home insurance cover?

When we decide to buy a home and we do not have enough liquidity to make that payment, we are obliged to request a loan from financial institutions .

These take advantage of the clients’ situation and after carrying out several studies on whether it is viable to grant the requested amount or not, most of the time, they advise us to contract certain products with them so that, in this way, that concession becomes effective, and among them is home insurance .

But it is not only mandatory when requesting a loan , but it is usually advisable in any case, even if you are a tenant, since the home is threatened by a multitude of risks that can damage it to different degrees, even reaching, in some cases, its destruction. physical disappearance or total destruction with the consequent economic loss that this entails.

There are many times when we ask ourselves why we should pay these amounts of money annually for home insurance , if then in reality, most of the time no accident occurs and therefore, the insurer is not forced to satisfy nothing, and therefore we believe it is wasted money.

But that is because we normally do not use this insurance due to ignorance of what exactly our home insurance covers . Nowadays, most insurance policies, in addition to possible accidents that may arise within our own homes or even to neighbors and surrounding areas , offer a series of services, sometimes within the blocks called basic guarantees and other times, included in optional guarantees , and of which the majority of customers are unaware of their existence.

What are the basic guarantees that all  home insurance has ? should I cover ? You must always be very attentive to the exclusions, deductibles and limitations that each insurer offers, but in general terms it could be said that the minimum guarantees are usually the following:

• Damage that occurs as a result of fires, lightning and explosions.
• The catastrophic and most of the time extraordinary ones such as floods, earthquakes or hurricanes.
• Malicious or vandalistic acts .
• Damage caused by water leaks.
• Breakage of marble, ceramic hobs, glass, toilets…
• Expenses derived from if, for example, you have had the bad luck that an apartment catches fire and that family and neighbors, if they exist) have to be out of their homes (for example, rent) until things return to normal ( each insurer usually sets maximum limits)
• Civil liability , when through our acts or omissions or even those of our children, we cause damage due to our negligence and fault
• As well as the money or securities that are found at the time of the incident and are lost due to it, that is, again with maximum limits.

There are other guarantees that, depending on the insurer we hire, may be basic or may be optional:

• Robberies and robberies , inside and outside the home, storage rooms or garages
• Thefts
• Fraudulent use of credit cards , with maximum limits
• Breaking glass, lamps…
• Food spoilage in refrigerators
• Aesthetic recomposition
• Legal and legal advice , as well as legal defense
• Or individual accidents etc.

These are, then, in general terms, the guarantees that home insurance offers us and as I have said before, it is important to take into account what are the limits and restrictions that each insurer has marked , both when we talk about continent or what is the walls and ceilings of our houses, as well as the contents or everything inside them.