First of all, it should be clear that home insurance is mandatory. Whether you are a tenant in a rentedapartment or an owner ofan apartment, villa, apartment, house, etc., it is imperative that you have it contracted. At the end of this entry we recommend some further reading.
Before we get into the subject, we will explain a little of the slang and its meaning that you will find when requesting a quotation. quote and / or make the policy, so you can be aware at all times of what you are asked and why. In this way to choose the best insurance in Andorra is the one that covers just the unforeseen events that usually happen throughout life, and not that cheap insurance that when we have problems will not take care, because there was, for example, a lot of fine print. Accidents at home are frequent and usually expensive.
The following concepts should be taken into account:
- Continent
A very simple way to understand what the continent is, is to visualize the floor/house in our hand and pose it head by valley. The continent would be everything that would not fall, the one that cannot be separated from the surface, that is to say, the walls, ceilings, floors, doors, windows, anchors, walls, closings, grills and even garage and/or storage room.
- Content
Same as the previous formula but in reverse, it would be everything that would fall in the case of turning the floor/house upside down. That is to say, furniture, appliances, jewelry, decorative objects, etc. We recommend that you do it by parts and this way you will avoid leaving any element that in case of loss would be covered. For example, garden / terrace objects (awnings, sofas, chairs, tables, sculptures, swimming pool,…,…etc) are almost always forgotten and should also be included in the policy.
- Liability
These are the damages you may cause to a third party, such as a neighbor or even a visit at your home of a relative/friend. And also the family civil liability, which is in case for example, if your son scratches a parked car with his bicycle, you would be covered for the claim expenses. Also with regard to pets, the damages they may cause to a third party would be included, therefore it is very important to indicate if you have a dangerous breed dog to the insurance salesman, since it must also be included in the civil liability policy .
When you have to value these three guarantees, we recommend you to do it with common sense and above all not toundervalue, underinsure or overinsure.overinsuring“.
And now you are probably wondering what is underinsurance?
It is when the sum insured of the home is less than the actual value of the property you own. To understand how this is applied as an example, if you have declared 20.000€ and in total your property is valued at 40.000€ in case of loss, theproportionalrule is on the 20.000€ and therefore you will charge much less, inevitably taking over the difference. Saving on insurance in this case would simply be false.
To save on your insurance, we also recommend to indicate if the house has security measures against theft, for example if it has armored doors, in case of a first floor house such as a villa, if the windows have bars, and even if you have a security alarm. All this will obviously lower the final premium.
Type of home insurance
Renter’s insurance
We will have to contract a home insurance that basically covers Civil Liability and it is highly recommended to add coverage for the contents, so if we have furniture or high-end appliances and/or a collection of watches or even some valuable jewelry, they will be covered.
In the event that the apartment already has the furniture and/or household appliances, it is also advisable, since they will also be covered and we will not have to take care of them in case of loss.
As for the building, it is also highly recommended to insure a minimum amount of capital, so that in the event of a water damage claim, for example, if the owner makes a claim, you will have a guarantee of coverage.
The owner is also obliged to have one, insuring the building and the Civil Liability of the apartment.
Finally, make sure that the owner does it for his part.
Homeowners insurance
In addition to having the policy with the community of neighbors, it is equally obligatory to contract a second policy that includes the content and the building (supplementary), since the policy with the community does not include the particular claims of the house.
Therefore you will have to insure the building, content and Civil Responsibility. It is also very important to insure the works of reform in the house.
Finally, make sure that the tenant does it for his part.
Therefore, to reassure ourselves that we have the apartment very well insured, we summarize what you have to take into account, so that we are not left hanging at the moment of truth:
- To value as closely as possible to reality both the contents and the building. Insurance companies are not appraisers.
- Indicate in the policy all the contents that we want to be covered and insured. All that is not included will not be insured.
- Describe perfectly the characteristics of your home.
- You don’t want to do it fast or think only about the cheapest price. Saving has to make sense and having peace of mind requires a bit of dedication.
Above all, if you have any doubts consult with your insurance agent or insurer. and always as far as you can, you have to read the conditions of your insurance, since if there is any deficiency or even franchise, that these are not exclusive to the insurance of the vehicles, it can condition the coverage.
Other sources of interest: