How does home insurance work?

The home insurance is a type of insurance designed to protect your home and its contents against a series of risks. In general, it covers both damage to property and civil liability in the event that someone is injured in your home. Below, we explain in detail how a home insurance policy works to resolve all your doubts:

Most common cover

• Damage to property: this is the basis of any home insurance policy. It covers the structural damage caused by unexpected events such as fires, storms, vandalism or burglary. Make sure all household items are covered by your home insurance.

   

• Contents:  This section protects your personal belongings, such as furniture, household appliances, clothes and valuable items (jewellery, works of art, etc.).  

   

• Civil liability:  this type of insurance protects the insured person against claims for damage or injuries to third parties that occur in their property. For example, if a visitor slips and falls in your home. 

   

• Additional expenses: if your home becomes uninhabitable after an accident, home insurance can cover additional temporary housing expenses, such as renting a home or paying a mortgage if you have to move temporarily. 

   

• Domestic animals: some policies may include cover for injuries caused by your pets or even damage to property caused by them.  

   

• Electronic equipment and technology: many owners are not aware that damage to electronic devices, such as computers, telephones or household appliances, may be included in the insurance policy. It is important to ask about these coverages when you take out home insurance, as some may involve an additional outlay. 

   

• Protection against natural disasters: Other important cover is that which guarantees the damage and losses caused by adverse natural events, such as floods, earthquakes or hurricanes. In areas prone to these disasters, it is crucial to check whether the policy includes them, since the cover may vary depending on the region, and you may need to take out additional insurance.

   

• Home assistance: some insurance policies offer assistance services, which may include emergency repairs, locksmiths, plumbing, etc. This can be a great relief in the event of minor unforeseen events that are usually costly. If you are looking for 24/7 home assistance to take care of any breakdown, installation or home improvement, our home insurance is your best option.

Terms and conditions and premiums

The cost of the insurance (premium or price of the insurance) depends on several factors, such as the location of the home, the value of the property and insured belongings, the type of cover you choose and the excess (the amount you must pay in the event of a claim). The higher the coverage and the higher the value of the home, the higher the insurance price will be.

Common exclusions

There are certain situations that are not usually covered, such as damage from normal wear, lack of maintenance or intentional damage. It is also common that damage caused by phenomena such as earthquakes or wars are not covered, unless additional coverage or insurance is purchased.

Claim process

If an accident occurs, you must notify the insurer as soon as possible. The insurance company may ask the insured for evidence of the damage, such as photos, testimonies or police reports, depending on the type of incident. Once the claim has been approved, the insurer will be responsible for covering the costs according to the terms of the policy.

In short, home insurance provides you protection against possible risks, insuring both your home and personal belongings and protecting you against legal liabilities. If you don't have one yet, we recommend that you take a look at our DKV home insurance.