As its name suggests, home insurance is an insurance policy designed to cover your home. It is optional for homeowners and compulsory for tenants. This insurance contract is also available in various versions. What’s the point of home insurance? How do I file a claim?
Home insurance, essential for protecting your property and your home
Home insurance is an insurance contract that covers your home and its contents. It comes into play when you are the victim of burglary, fire, water damage, explosion, glass breakage, vandalism, and so on. It is thereforeessential coverage if you are to claim compensation in the event of one of these losses. Home insurance is compulsory for all property tenants. However, landlords are not required by law to take out such a policy, unless their property is co-owned. Co-owners are therefore required to take out this coverage. However, even if you don’t own a condominium, it’s strongly recommended that you have this insurance.
In view of the claims it covers, home insurance is a way of avoiding major repair costs. Stolen valuables, stolen collector’s jewelry, water leaks that damage your home’s fixtures and fittings – these are all things you’ll have to repair out of your own pocket if you don’t have home insurance. As much as the contracts themselves, home insurance offers a wide range of coverage.
Types of home insurance
When it comes to contracts, you can take out homeowner’s insurance. It covers the home you live in and the possessions inside. Non-occupant homeowner’s insurance is another variant of this coverage. It is aimed at owners who do not occupy their property themselves. PNO or landlord insurance often complements the tenant’s home insurance. It provides a high level of coverage in the event of damage. As you can see, tenant’s home insurance is also a form of housing cover. You must take out this policy if you are a tenant.
In fact, you must present proof of this to the landlord when you sign the lease. It indemnifies you in the event of theft or damage to your property. It also covers your civil liability. Condominium insurance is one form of this contract. If you own a property in co-ownership, you need to take out an insurance policy.
Home insurance coverage
Two types of cover are often offered with home insurance. On the one hand, there’s the basic home insurance contract. In addition to third-party liability, it includes coverage for water damage, natural disasters and all the other traditional guarantees. However, it has to be said that these guarantees are very limited. To ensure comprehensive coverage, we recommend that you take out comprehensive home insurance. It includes the classic guarantees mentioned above, plus coverage against theft and burglary (optional with some insurers). It also covers legal expenses, electrical appliances, swimming pools and dangerous animals.
Choose the home insurance that’s right for you
With so many options to choose from, you need to select the home insurance that best suits your needs. With this in mind, draw up a list of your needs and compare quotes from insurers able to cover them. By doing so, you can choose the offer that combines good coverage with an objective price.
What’s more, your coverage needs may change over time. Perhaps you’ve built a pool or an outbuilding in the meantime. Are you buying valuable jewelry or objets d’art? It’s important that these new features are also covered. At the same time, some of your warranties may no longer be useful over time. To make sure you’re always well covered, be sure to regularly review and update your insurance policy.
Home insurance: how do I file a claim?
Whether you are a homeowner, landlord or tenant, in order to receive compensation under your home insurance policy, you must :
- read your home insurance policy carefully to make sure it covers the loss,
- report the claim within 2 to 10 days, depending on its nature, by registered letter with acknowledgement of receipt,
- add proof of damage and estimate to the letter,
- provide proof of the value of damaged goods.
The insurer will then commission a survey to assess the reasons for the loss and estimate its cost. He will then make you a proposal for compensation. If you agree, the funds will be transferred to the bank account you specify.