Home insurance is a policy that covers any damage to the structure of the home, and the property it contains. Thus, many people want to know the cost. Find out, in the rest of this article, what home insurance is and what is its average cost.
Home insurance is a risk insurance policy created to meet all the requirements related to the protection of your home and your family. Home insurance guarantees protection and coverage against domestic emergencies of any kind. Damage to the house and its contents, as well as damage to third parties are included. The home insurance contract also guarantees legal assistance and protection in the event of a dispute.
Liability policies designed for home security include additional coverages that protect people and pets. It is possible to add guarantees to the basic home insurance. These warranties protect against unforeseeable external events such as atmospheric phenomena.
Earthquake insurance covers damage caused by earthquake. It is suitable for those who live in high seismic risk areas. The weather cover protects against floods, storm surges, tsunamis and other natural disasters.
The electrical phenomena policy covers damage caused by overvoltages and short circuits on electrical appliances and household appliances. Theft and burglary policy protects against vandalism, theft or burglary.
Answering this question is not as simple as one might think, since the prices of a home policy can vary widely. The price of home insurance varies not only depending on the insurance company chosen, but also depending on other factors. These factors include, among others:
A study conducted by insurance companies shows that insuring a house cost an average of €372 per year. The average price indicated relates to multi-risk contracts which offer various additional guarantees. If you wish to take out insurance for a second home or property used occasionally, you should rather consider that the annual price may increase by around 25%.
There are also factors that can help reduce the cost of a home policy. This is the case of the presence of an alarm system with video surveillance or grilles on the windows which can guarantee a higher level of security in the event of theft.
A ground floor apartment, located near a river and without any protection, runs a high risk of flooding. This will certainly drive up the price of the home policy.
The only compulsory insurance is the fire and disaster insurance policy for the mortgage. Those who intend to buy a house and those who need a mortgage are indeed required by law to take out this policy. Without it, the bank will not grant the loan.
For greater protection, it is better to take out insurance coverage that also offers additional guarantees. This helps to better protect property, assets and people against the unexpected that can happen in life.