Home insurance: Everything you need to know

8 de February de 2023
Seguros de hogar

Whether you have just become a homeowner, or intend to do so soon, you are probably wondering what type of insurance is best suited for your home.

For this reason, from KM2 Real Estate Services – real estate agency in Barcelona and Madrid – we detail everything you need to know about home insurance. The goal? That you choose the option that best suits your needs. Take note!

Different types of home insurance

Although it is true that there are different types of home insurance, there are three that we could consider of great relevance. Three insurances designed to protect our home and that will give us absolute peace of mind as homeowners. Let’s analyze them!

All risk insurance:

A typology that offers protection against a wide range of risks, both for the home and its contents. Not only does it provide great peace of mind to homeowners, but it also allows them to be covered against any unforeseen situation.

Generally, the risks included are as follows:

  • Fire.
  • Theft.
  • Water damage.
  • Vandalism.
  • Earthquakes.
  • Floods.
  • Lightning strikes.

Fire and theft insurance:

This type of policy covers fires that occur accidentally. The coverages included for the affected party vary according to each insurance policy, but the most common are usually the following:

  • Damage caused by flames. Depending on the type of contract, it may cover both the building and the contents.
  • Provisional accommodation while the damage is being repaired.
  • Fire department costs.
  • Reconstruction of the dwelling and/or garden.

In the event of theft (or attempted theft), the insurance company undertakes to indemnify the insured for damages resulting from the disappearance, destruction or deterioration of the insured property.

Flood and earthquake insurance:

Finally, another of the most important insurances to take out in a home: the protection insurance against damages caused by a flood or an earthquake. It is interesting to opt for this type of insurance in those homes located in areas prone to natural disasters.

Which one is more advisable to choose?

The choice of which home insurance is more interesting to choose depends on each case. The type of home, the place where it is located and the value of the personal property that the owner has inside will play a fundamental role.

Each owner should opt for those coverages that he/she considers most convenient.

However, it is important to note that the exact home insurance coverage may vary depending on the insurance company and the specific contract. Therefore, it is important to read the terms and conditions carefully before signing the contract.

According to Royal Decree 716/2009, it is only in the case of having a mortgage that it will be mandatory to take out home insurance.

Home insurance

Our insurance service for real estate

At KM2 Servicios Inmobiliarios we offer our clients an insurance service for the real estate sector.

We are experts in advising, recommending and contracting insurance. We process the scope of coverage and always attend to them for the benefit of our clients.

Do not hesitate to contact one of our agents for advice on which insurance is best suited to your needs.

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