The best value for money home insurance
If we carry out a comparison and analyze the quality/price ratio, we obtain that the best home insurance policy is offered by Onyx (the insurance company that belongs to MGS and markets its products through the Internet). It offers coverage for fire damage, damage to electrical appliances and installation, flood damage and pipe repair, and even damage caused by the weather.
Another advantage it offers is that it covers glass-ceramic breakage with up to 600 euros with a new one. As a disadvantage we find that the payment cannot be split, so it must be done in one go and it does not cover the cost of repairing appliances.
The best home insurance with the best coverage
If we analyse the coverage offered by Línea Directa insurance, we find that, in this case, the claim is indeed covered; furthermore, it also covers the fraudulent use of credit cards and robbery on the public highway, so its quality/price ratio makes it a more than recommendable alternative.
As you can see, there are as many policies as there are owners, and most can be made almost to measure for the policyholder. Therefore, it is important that we study the coverage well in order to know for sure which one is the best adapted to our needs and budget.
Truths and lies about home insurance in Spain
As with other types of insurance, there are many urban legends surrounding home insurance. To prevent you from finding surprises in your policy, we dispel the most widespread myths and tell you some of the truths and lies about home insurance that exist:
Home insurance is mandatory
Home insurance is not compulsory, but it is recommended and very necessary. The only thing that is obligatory is an insurance that covers the appraisal value of it; however, this does not mean that it is necessary to contract it with the financial entity that grants the mortgage loan. In writing this obligation is never established because it would be against the law, but the directors of the banks do try to “sell” these products to generate bonding and grant bonuses to customers in their mortgage loans.
But what if I am a tenant who has just signed his lease? Do I have an obligation to insure it? No, but remember that you will be responsible for any damage you may cause to the property or other adjoining owners.
For all these reasons, although it is not compulsory to take out home insurance, it is highly recommended that you do so with, at least, civil liability cover, to avoid any mishaps that could cause you problems; furthermore, it is important that it also includes legal defence, with which you will have lawyers to advise you, and also theft cover. If you are not a tenant and the flat is yours, you will also have to take out other more specific cover.
The cover for aesthetic replacement is always included
Check the policy you’ve signed carefully because sometimes the fine print can play tricks on you. It is very common for companies not to include this coverage or, if they do, to have it limited to a certain amount.
For this reason, you should take good care when taking out the insurance, to avoid surprises in the event of a claim.
The coverage of traffic jam only covers the damages caused
This is a very controversial coverage. In general, the company does not usually pay for the cost 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, it is normal that we want to insure them against possible theft, damage, etc.
Of course, there are companies that consider it independently, and you can take out the policy outside your home insurance; this is the case of the jewelry insurance offered by some companies. Another alternative you can hire is to include in the policy only a certain number of valuable objects, paying a little more in your home insurance premium.
But how can you tell if your items are valuable, regardless of whether you consider them so? The companies have a very defined concept, they are goods and objects whose unit value exceeds 1,800 euros. However, 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 woven with thread and precious metals; coats, jackets or any other garment.