Home insurance

What is Home Insurance?

Home insurance is a type of "multi-risk" insurance that covers damage to your home and the belongings inside. It also covers liability for damages caused to third parties.

Is Home Insurance mandatory?

No, home insurance isn't currently mandatory. However, we highly recommend it, especially if you live in an apartment. With home insurance, you'll have greater peace of mind!

Is Home Insurance mandatory in a mortgage?

Most banks grant mortgages requiring the homeowner to take out building insurance. This policy transfers the insured's rights to the bank.

What is the "continent" of home insurance?

The building structure of a home includes all the fixed installations: walls, floors, utilities, etc. The building structure value is the cost of replacing these installations in the event of a major incident.

How do we calculate the continent value of the home?

It is calculated based on the surface of the house and the quality of the construction.

What is the "content" of Home Insurance?

The contents of the home are everything inside the house: furniture, clothes, appliances and computers… The homeowner must provide the value of everything they have in their home.

Does my home insurance cover water leaks?

Yes, water damage coverage is one of the main coverages offered by the home insurance policies we provide at our Insurance Brokerage in Tenerife and Las Palmas. It covers damage caused to your own home or to your neighbors' homes by leaks from the home's water system. It's important to distinguish between water damage (damage to plumbing fixtures) and rain damage. Canarisk home insurance also covers rain damage.

Is jewelry covered in home insurance?

Generally, jewelry is covered up to a certain percentage of the declared contents. For jewelry of a higher value, the policy must specify the type of jewelry and its individual value. Our insurance brokers in Tenerife and Las Palmas will advise you when taking out your home insurance in the Canary Islands.

Can I take out insurance for a rented home?

At Canarisk, you can insure your home , whether you're a landlord or a tenant. If you own a rental property, you can take out specific coverages such as protection against tenant vandalism or loss of rent if an incident renders the property uninhabitable. If you're a tenant, you don't need to insure the building itself; you can insure only your belongings and household goods.

Is there comprehensive insurance for homes?

Home insurance policies can include accidental damage coverage. The insurer assumes the financial consequences of any accidental damage to the home, provided it is not expressly excluded in the policy.

What do I do if my home insurance goes up for giving a part?

If you're a Canarisk customer, we guarantee we'll always review your insurance policy at expiration to ensure your premium doesn't increase. If you're not a Canarisk customer, call us and we'll explain how to get affordable home insurance with the best coverage.