The Best Five Insurance Homeowners For 2023 And What To Know Before Hiring Them

 

Have you moved house? Are you thinking of changing your home insurance, insurance company? Surely you are immersed in the search for the best home insurance. We are going to show you which are the insurers with the best home insurance in terms of a series of criteria: coverage of their policies, the competitiveness of their prices and the degree of customer satisfaction. We know that comparing is complicated and your time is not infinite and the decision has to be very thoughtful. You don't want to pay more, but you don't want to pay less either; In addition, you want to have all the necessary benefits and be protected in case you have a problem with your home.

Best home insurance

This time you will be able to verify that the list of home insurers is enormous, and that in addition, the best-known insurance companies such as AXA, MAPFRE, Santa Lucía, etc. They usually carry out very aggressive campaigns when it comes to promoting their products and you have to be careful to know what exactly we are hiring.

Home insurance is usually one of the insurances that raises the most doubts for the insured, since they have numerous coverages, but also with an endless list of limitations that can cause us to stay without notifying our company in the event of an accident that covers us for pure ignorance, or, on the contrary, not being covered for mishaps that we thought were included in our policy.

As with other insurances, common sense must prevail, so that we are aware of what we need, what our budget is and what we are willing to give up and what not. It is not convenient for us to pay attention to claims that can leave us without coverage that our home needs, or end up hiring others that we will never get to use.

To prevent you from making the wrong decisions, we help you analyze some of the most important coverages and, above all, the pros and cons of some of the companies that offer the best home insurance. The perfect policy does not exist, but there is adequate insurance for every need. For this reason, we want to help you choose the one that best meets your needs, fits your budget and has the coverage you really need. The intention is that we can help you stay up to date in the world of home insurance.

One of the options you have is to find out by consulting the lists of the best home insurance companies in Spain. You will find the basic covers, the extraordinary ones, the ones you don't need, the ones that are essential. With all this, you will be able to decide which one best suits your needs and best suits your budget.

But, surely, this will be tedious for you and, since time is a very precious commodity nowadays, you will need a little advice. If you want to know all the details that must be taken into account when hiring the best home insurance, either for your first home or because you want to change company, we offer you a series of keys to help you in your decision.

In this post we are going to analyze all the aspects of home insurance and we will tell you how to choose one.

Before taking out your home insurance, make sure you are familiar with these details:

• Study aggressive offers with caution
• Know what are the coverages that my insurance must have
• Know the differences between content and container
• How online comparators work
• Know if it is a good idea to take out home insurance with the bank

Let's start with the first temptation: cheaper home insurance than normal.

Beware of aggressive home insurance offers

Whatever the type of home you want to insure, the policy we take out must have coverage to protect the owner from damage to the contents and the container, as well as damages caused to third parties, both materially and physically. staff. Do not trust the aggressive campaigns that some insurers usually launch and remember that none can offer you a product according to your needs without knowing the characteristics of the home that we are going to insure. For this reason, avoid offers that promote advantageous conditions without knowing the home, because they will surely apply prices that do not correspond to what is offered.

It is important to distinguish what type of home the product we want to contract is intended for, since there are big differences between insuring our first home or habitual home and doing it with our second residence, an apartment that we are going to rent or any other home. Other factors that companies usually take into account are the security measures in the home, be it an alarm, bars, security shutters, armored or armored door, etc.

However, these are the key factors in determining the premium for home insurance:

Age of the house

Construction time of the foundations, roofs and walls.

Home Features

Did you know that a house with a fireplace or a pool will be more expensive when taking out the insurance because insurers consider that they entail more risk?

Materials used in construction

Be careful when deciding, if it is in your hand, the qualities of your home. The premium will be higher, since the companies consider that, in the event that it must be rebuilt due to an accident, it will cost more.

Location of the home to be insured

A large city and a population of few inhabitants will have nothing to do with what the insurance premium is concerned.

House size

The square meters, the rooms, bathrooms, etc. influence the calculation of the companies.

You must know the bonuses and surcharges that each company applies when establishing the price of the insurance, based, above all, on these variables. It is important to remember that the insurance offered by the cheapest policies usually has less coverage or you may find surprises when you have a claim at home. It makes no sense to skimp on coverage and benefits so that later your insurance does not cover anything.

What are the basic coverages that my insurance must include?

If you are unsure about what you should include in your home insurance and what coverage you can omit, we will tell you what the basic coverage is so that it is easier to contract the product with the insurance company with which you decide to insure your home.

Home insurance covers material damage within it, in addition to damage that may be caused by water or fire, atmospheric phenomena, broken glass and also damage derived from electrical short circuits, breakdowns or theft. You cannot miss the coverage for damages due to civil liability caused by damages or injuries that may be caused to other people or their property from the insured's home.

Can't think of what we're talking about?

Imagine that an object falls from a window in your home that could harm someone passing by on the street at that moment; think of cracks that could appear in a neighbor's house while you are doing reforms or humidity that may occur... How are all these assumptions regulated? Through the civil liability that covers these repairs and the corresponding compensation that we should pay to those affected by these accidents.

The most important thing is that we know in detail what our home insurance coverage is to know when and what we can claim from the company. Typically, they include guarantees that protect the owner against material damage, theft, civil liability, aesthetic damage or legal defense, but optional coverage such as appliance repairs or DIY service can also be selected, it all depends on the policy contracted. Also, if you are going to rent your home, you should know that one of the coverages offered by the companies is protection against non-payment of rent or malicious damage by the tenant.

A term that you should know is underinsurance, what does it sound like?

This phenomenon occurs when the value of the insured capital is less than the new replacement value of the insured object. And why are we telling you this? Because at this point the assessment that we make of both the content and the container is essential, since, in the event of an accident, the insured will be compensated with an amount proportional to the insured sum.

Container and content, how do they influence the policy?

These two variables have a decisive influence when deciding which is the best insurance for your home. You must know the real value of the content and the container of the house, the final premium will depend on them.

Do you know what the content is and how can you calculate it?

This term refers to the total capital that results from adding the value of the real estate that is inside the home, including furniture, appliances, clothing, personal effects or jewelry. If you want more information, we recommend our article on what is the container and the content in home insurance, which talks about what is included or not included in each of them.

What is the continent?

It refers to the elements that are part of the housing structure: foundations, walls, walls and fixed installations for private use. At this point, the most important thing is to value the home or its content adjusted to its price, neither above nor below its real value.

Is it convenient to compare several home insurance companies online?

Unless you are an expert in the field, know the coverage in detail or have direct advice, our recommendation is, without a doubt, that you compare different home insurance before making the final decision; Only then will you be able to obtain the one that best suits your personal, economic circumstances...

Still do not know what is the basic thing you should hire?

Review in detail, as far as the continent is concerned, what are the claims covered by the policy of the insurers you are comparing. It is also important that you take into account what damages it covers with respect to the content. You should take into account the new or replacement value in the event of compensation, civil liability that in the case of having to compensate other people for the damage caused, a minimum coverage of 300,000 euros is recommended and that there is no lack of legal defense.

Is it better to take out home insurance with an adviser?

Without a doubt, consulting with experts is always convenient. Therefore, if you feel overwhelmed with the amount of coverage, prices, situations, etc. that you can find when hiring insurance, the For this reason, you have to look carefully when taking out the insurance, to avoid surprises in the event of an accident.

Jam coverage only covers damage caused

This is highly controversial coverage. In general, the usual thing is that the company is not responsible for the expense of unblocking the pipe itself or where the blockage has occurred; however, for a little more, there are companies that are already beginning to include it in their policies.

Can I insure my valuables?

The first question that arises at this point is, what are valuables? Do we have luxury items in our home? If so, the normal thing is that we want to insure them against a possible theft, some damage that they could suffer, etc. Of course, there are companies that contemplate it independently, and you can take out the policy outside of the home insurance itself; This is the case of jewelry insurance offered by some companies. Another alternative that you can hire is to include only a certain number of valuables in the policy, paying a little more in your home insurance premium.

But how can you know if your objects are of value, regardless of whether you consider them so? Companies have a very defined concept, they are goods and objects whose unit value exceeds 1,800 euros. Of course, for you to be able to insure them they must be included in one of these categories: works of art (paintings, sculptures, antiques, etc.); Carpets, tapestries or similar objects that are woven with threads and precious metals; coats, jackets or any other leather garment; collectibles; musical instruments or firearms, among others.

What if you don't have home insurance?

Although it is not mandatory to have home insurance, it is convenient and quite necessary. It may happen that there are people who own a house and do not have insurance, even if this house has a mortgage, it is not mandatory to take out insurance. Of course, it is highly recommended to do so to have the peace of mind that an accident should happen and our only concern is to notify our company. For this reason, our recommendation is to contract a combined multi-risk insurance that protects both the content and the container and includes civil liability.

Did you know that there are cases in which home insurance is mandatory?

You may be wondering how this is possible. The reality is that, although it is not mandatory, the Mortgage Market Regulation Law and the subsequent regulations that develop certain aspects of said Law, do require that the mortgaged assets "must be insured against damages for the appraisal value", and this insurance must be "adequate to the nature of the same". And, another important detail: the amount -the insured sum- for which this insurance must be carried out must coincide with the value of the first appraisal of the home.

Therefore, as long as we have a mortgage, it will be mandatory to contract this insurance that protects us, for example, in case of fire. But who will be the beneficiary of this insurance? Well, neither more nor less than the bank with which we have signed that mortgage, since that house belongs to it until the moment the debt is cancelled.

Regardless of this, whether or not you have a mortgage, taking out insurance is more than recommended, especially since it can happen that we cause harm to a neighbor and, if we do not have home insurance with Civil Liability, we would have no choice but to assume the cost of repair, whatever it may be. But, let's put ourselves in the opposite case: imagine that a neighbor causes us harm and that, either he refuses to bear the costs, or he does not have insurance, it would be our company who initiated the procedures for claiming damages, etc... Do you still think that it is not so important to take out home insurance?

Conclusions to find the best home insurance

We have already given you many clues about which are the best home insurance and we are sure that you will make the best decision. Take into account the coverage of each company, what you need and what you don't, and remember that it doesn't make sense to insure for less, nor for more: if you don't have works of art or precious stones, do you think you need insurance for valuables? worth? Wouldn't it be better if you didn't forget about cosmetic damage coverage, for example?

These are some of the keys to choosing the best home insurance:

• Home insurance is not mandatory, but it is recommended.
• Civil Liability is essential when you take out home insurance.
• Do not trust the aggressive offers of some companies.
• The insurance premium will depend on factors such as size, location, or some features such as whether or not it has a pool.
• The bank cannot force you to contract the insurance with its company, but it will probably give you a bonus if you do so.