When buying a home there are many issues that we don’t think about, such as the new responsibilities that come with it. It is time to think, for example, about taking out home insurance. And the same is true when we buy a second home: protecting our home becomes a fundamental step.
Are you looking for the right policy for your home? The reality is that many people do not know what their home insurance covers and what it does not. As an insurance brokerage, at Moné we can help you choose the right home insurance that best suits your needs.
In this post we are going to tell you about all the things that home insurance covers and we don’t know, there are many more than you think. Keep reading to discover them!
What does home insurance cover?
Did you know that nowadays home insurances are called “multi-risk”? In the past, these insurances only covered fire, and cost much more. Now, however, for a fairly affordable price, these types of policies include a wide variety of coverages.
Before delving into the more unknown ones, let’s take a look at what basic home insurance covers:
- Liability. Imagine that a fault in the pipes of your home leads to leaks in your neighbors’ house. In that case, your home insurance would cover the damages being caused to third parties, so you would not have to dip into your pocket. Liability is an essential coverage in any homeowner’s policy.
- Electrical damage. Short circuits or abnormal currents can cause electrical damage – to your television, refrigerator, etc. – which is covered by your homeowner’s insurance.
- Fires. If your home catches fire, the insurance covers the damages up to the limit included in the policy.
- Theft. Most home insurance policies cover the building and the contents, that is to say, both the damage to the structural part of your home in the event of theft and your personal property.
So, are there things covered by home insurance that we don’t know about? That’s right, and many of them are not apparently related to our home. We’ll tell you about them!
1. Theft of your credit and debit cards
Has your credit or debit card been stolen? Your home insurance will vouch for you. If, in addition to stealing your card, they have made fraudulent use of it by accessing your bank account, your insurer can compensate you for this expense. Of course, always within an agreed limit.
2. Lock change
If you are naturally absent-minded and can’t find your house keys, you will probably have to change the lock. Don’t worry! In many cases, your home insurance covers the costs of lost keys or lock replacement, although this guarantee will depend on each policy . In addition, it is important that you call your insurer to see if you can count on any locksmith or if it should be the assistance professionals who attend to you.
In some instances, your company’s backing is virtually assured. For example, if your lock jams and prevents you from leaving or entering your home, the company will cover the opening of the lock.
3. Loss of refrigerated food after a power failure
Have you ever gone on vacation and when you came back you noticed a putrid smell coming from the kitchen? This happens much more often than you think. A simple power outage can ruin all the food we had in the fridge and freezer.
When this happens, the costs of losing all that refrigerated food may be covered by your homeowner’s insurance. Keep in mind that most insurers set a maximum amount of compensation to replace your spoiled food. On the other hand, it is important that you provide evidence, such as photographs of the spoiled food.
4. Handyman service
If you are not particularly good at DIY or do not have the time to dedicate to it, do not despair! Many home insurance companies include the “handyman” service so that you can solve small maintenance tasks in your home with the help of a real professional.
Putting up curtains, assembling furniture or putting silicone on the shower tray are tasks that sometimes require not only tools, but also knowledge and experience. Home insurance usually covers travel and labor. Although companies usually impose a maximum number of annual interventions, this help is always useful!
5. Solar panels
There are many people who, nowadays, are encouraged to install solar panels in their single-family homes to supply themselves with this energy. These panels can be included in your home insurance, and thus be covered in case of fire, theft or breakage, remember that they are part of the building of your home! For that reason, it is convenient that you communicate their existence to the company or to your insurance broker.
6. Replanting gardens and groves
Your home may have a garden or wooded area. Unfortunately, unexpected weather phenomena happen and can do a lot of damage to this area of the house. That is why there are many home insurance policies that cover, for example, the replacement of these trees, although always with previously agreed limits.
7. Deletion of the fingerprint
The digital footprint involves all those traces that we unwittingly leave behind when we surf the Internet and use social networks. Many home insurance policies offer to erase that digital footprint in the event, for example, of the death of a person, but also when there is damage to our reputation or personal image and we want to disappear from the network.
8. Uninhabitability of the dwelling
If a fire or similar damage temporarily prevents you from living in your home until it is repaired, the insurer may cover the cost of rent or a hotel, so that you can cover the costs until you can return to your home .
9. Medical and psychological counseling
Among all the things that home insurance covers and we don’t know about are medical and psychological counseling. For example, the Allianz Home Plus policy includes a 24-hour telephone assistance service 365 days a year, thanks to which policyholders can resolve any queries they may have.
10. Aesthetic damage
One of the most important coverages is that of aesthetic damage. Imagine that a pipe breaks in your house and floods part of a room and there is no longer a parquet of the same type, you would have to change the floor of the entire room! And it is precisely there, to help you repair the part that is not directly damaged, that this coverage would intervene. The same happens if a tile breaks in your bathroom and there are no replacements.
As a piece of advice, we recommend that you subscribe at least 3,000 euros in this coverage since, many times, 1,500 euros is not enough.
What is not covered by home insurance?
We are sure that some points in the above list have surprised you, but all that glitters is not gold. If we talk about this type of policy, we must also talk about what home insurance does not cover. We will tell you about it:
- Claims caused by lack of maintenance or misuse of the home, such as burst pipes that you know are deteriorated or in poor condition (e.g., rusted) and you do not repair.
- Damage caused by a PPP pet, as potentially dangerous dogs require pet insurance. specific pet insurance insurance.
Get good home insurance coverage
At PIB Group Iberia we work with more than 20 home insurance companies and we handle almost 1,000 claims per year in our clients’ homes, so we know perfectly the necessary coverages in case of an incident. If you are looking for the best home insurance 2023, you can trust our team.
It doesn’t matter if you want to take out a basic home insurance policy or a much more complete damage coverage. If you decide to contact us, we will advise you to find the policy that best suits your requirements and your home. Afterwards, we will continue to be there, backing you up in case of any doubt or problem with your insurer.
Don’t wait any longer and get the best home insurance coverage from us, we look forward to helping you!
