Home insurance has achieved the disgraceful position of leading the complaints against insurance, surpassing that of the automobile. The competition, to get new policies, puts the price as a hook without warning the consumer when signing the policy that the discounts thin the coverage.
Paying for a policy with little coverage can lead to a difficult payment to assume. A broken pipe, for example, can lead to a leak on the ground floor and damage expensive paintings belonging to a neighbor. Ignorance does not exempt from guilt, and the payment of civil liability is based on the amount contracted, like the rest of the claims.
Multi-risk insurance for the home is less standardized than car insurance, the types of coverage differ from one company to another and can be partially contracted
To avoid surprises in claims it is advisable to be advised by an insurance broker of trust that compares between several offers of insurance companies with a quality and contrasted service in the Canary Islands. The difference in the price of insurance goes, above all, depending on the coverage and the amount of compensation.
Recommendations
1st Access the insurance of the community of neighbors to know the contracted coverage that may affect your home (assessments of continent, water damage, etc). If the conditions are adequate, it is advisable to consider home insurance with the same insurer in the community, to avoid conflicts.
2nd Hire the capitals well to adjust the policy to reality. The value of the building known as continent, is the amount that the insurance will pay in the event of a total destruction, it will cover damage to roofs, floors, windows, pipes, electrical installation or air conditioning, and anything contained in its infrastructure.
3rd Keep in mind that the content insurance covers furniture and household items. How much would it cost to buy back all the contents of the home? A contract made at new or replacement value with automatic revaluation saves the difference. It is advisable to update the policy with each significant purchase, and to know the goods excluded from the standard policies (collections or jewellery) in order to expressly declare them. Ask about the unit value of coverage and declare assets greater than that amount, such as household appliances or unique furniture.
4th Assess that the Civil liability covers the payment of repairs or compensation for damage caused to third parties. Take into account the type of neighbors to assess the amount of civil liability or the type of business installed under your floor, you must pay for the damage caused to them. At Canarisk we consider that the minimum capital to be contracted should never be less than €300.000
5th Keep in mind that the legal defense includes claims for damage caused by third parties to your property. Check the inclusion of your rights as a landlord, as a tenant and criminal defense.
At Canarisk Correduria de Seguros we can advise you on the best coverage and home insurance in the Canary Islands with the main insurers present in our Autonomous Community