Home insurance is the most effective tool to maintain your home and continue to live peacefully within the four walls. Protecting your home, in fact, means protecting yourself, your loved ones, and your belongings from various possible risks.
Home insurance is considered a type of multi-risk insurance product, as it guarantees protection from the most disparate occurrences and the resulting damage.
Fire, theft, flood, earthquake. There are many circumstances that put your home at risk. This is why it is important to take policies that can materially protect you from the damaging consequences stemming from this situation.
Home insurance is not mandatory.The law, in fact, stipulates liability only for home insurance for mortgage and fire outbreaks, which protects your property from damage caused by fire, explosion or gas leaks. Without the establishment of this specific policy, the loan itself cannot be granted.
Below we will try to answer all the doubts related to this topic in order to understand how home insurance works and whether it is really convenient to establish it.
Home insurance: what the policy covers
When you buy a home and live in it permanently, it is always advisable to take out property insurance to ensure protection in the event of major material damage to the home and to the assets contained therein, caused by third parties or from external elements.
Here is the RC Home policy what it covers :
- House fire (and related elements such as lightning, explosion, explosion or implosion etc …);
- Theft, robbery, mugging and extortion;
- Conducted water;
- Electric phenomenon;
- RC House.
RC Casa is nothing more than a home insurance for damage to third parties , such as neighbors. This insurance tool is designed to relieve the insured and his family members from any compensation due to third parties in the event of damage related to the management of the house or property.
Additional Home Insurance Coverage
The home is the most important asset an individual possesses. Therefore, many insurance companies offer the policyholder further extensions and guarantees to live their home in complete serenity.
These are obviously optional guarantees and coverage, to be chosen according to the individual needs of those interested in taking out home insurance.
Among these are:
- Earthquake and natural disaster home insurance;
- Glass and crystal breakage;
- Home insurance for atmospheric events (snow, hail, heavy rain, tornadoes, etc.);
- RC Head of the family;
- RC Owner;
- RC Tenant;
- RC Building;
- RC pets (for damage caused by the dog or other owned animals);
- Injuries in the home and during free time.
The home insurance policies also include the legal protection, in the event of legal disputes for the reimbursement of legal costs and the lawyer’s fee, and 24-hour assistance by professionals and specialized technicians, in case of small daily unforeseen events.
Types of home insurance
First of all, it must be said that a property is not insured for its commercial value, but for the reconstruction value, which does not vary – if not minimally – with respect to the area in which it is located.
Secondly, when evaluating the home insurance policy, the differences between the different insurance formulas proposed by the insurance companies must be clearly understood, namely:
- First absolute risk;
- Second risk;
- Integer value.
Full-value home insurance is a type of insurance that provides for a correspondence between the maximum insured and the real value of the assets that have been insured.
The first risk home policy instead establishes a fixed value as a maximum repayment limit in the event of a claim, without making any prior appraisal of the actual value of the insured assets.
Second risk home insurance, on the other hand, offers insurance coverage in excess of the expected ceiling.
Home Rental Insurance: Who Should Pay?
For rental homes, the question is often asked whether home insurance is the responsibility of the tenant or the owners.
Article 1590 of the Civil Code establishes that at the end of the lease of a property, the tenant is required to return the leased property in the same state in which he took over.
The house will therefore be returned without structural changes or significant damage, except those caused by natural deterioration due to daily use.
For all other damages the tenant is to be held responsible and obliged to compensate the owner for the expenses necessary to restore the initial conditions of the property.
The stipulation of a rented home insurance or tenant liability insurance is not mandatory, but it is a useful tool for the tenant to protect himself in the event of:
Damage caused involuntarily by the tenant to third parties, things or people;
Damage caused to the structure of the house in which he lives (including fires and explosions).
Damages deriving from thefts occurring without fault or negligence of the tenant, and damage due to fires and thefts occurring for causes outside the responsibility of the tenant are excluded from the tenant RC.
This policy provides for a maximum reimbursement limit, which is the maximum amount of compensation, and an excess, which is the minimum amount within which the insurance coverage does not take effect.
How much does home insurance cost?
The annual premium of home insurance obviously depends on several variables. First of all by the type of insurance chosen and then by other factors such as:
The number of square meters of the house to be insured;
Selected Warranty Covers.
However, there may be a discount on the home insurance policy if the home is equipped with an effective security system such as an integrated system of sensors connected to your smartphone to monitor any type of danger in real time.
And the more sophisticated the protection systems are, the higher the discount will be. On the contrary, in the case of passive systems, such as armored doors and windows or railings, the discount is significantly reduced.
Taking out home insurance is an effective way to protect your peace of mind in the event of accidents that can cause significant damage not only to the home but also to those who live inside it.
