Taking out home insurance can be a protection that should not be underestimated, but pay attention to this detail when signing.
Home insurance is a very widespread practice outside Italy and which in recent years has also been gaining ground in our country. Clearly this is an expense that not everyone can afford (it is already difficult for many Italians to be able to pay the mortgage or rent installments) and in fact for the moment – barring laws that change the address perhaps in high-risk areas – this is not a mandatory practice.
For the moment, therefore, only those who own luxury homes and have goods of high economic value inside them are insured against theft or possible damage. However, there is the possibility that the buyer of a property may be forced to take out insurance from the banking institution.
In fact, in some cases banks include the home insurance policy to have greater protection on the investment made at the time of granting the mortgage. This possibility – sometimes not an optional choice – allows the person requesting the mortgage to pay lower interest and therefore a lower installment, but obliges him to pay the insurance premium every year.
In any case, home insurance can be an affordable option for anyone who can afford it. Insurance, in fact, allows you to protect yourself from accidents, fires and possible disasters and therefore to obtain compensation that would allow you to buy a new house or renovate and repair the one you live in.
Home insurance: pay attention to this detail before signing
If you are thinking about insuring your home you should know that they exist various types of insurancesome that only cover certain types of damage (for example catastrophic weather events or fires) or which only serve to protect assets from theft. It should also be remembered that condominiums usually already have comprehensive insurance on the building and it is therefore advisable to inquire with the administrator before taking out insurance if you live in a condominium.
For the insurance policy to be valid it is It is necessary to pay the insurance premium regularly – an annual, half-yearly or monthly installment that is paid to the insurance company – it is also very important to read all the clauses before signing, since there are conditions that can block the granting of compensation (for example if the fire is arson).
In this regard, it is good to pay attention to the maximum limit and the deductible. The limit is the maximum sum that the insurance offers to compensate in fact, in the event of damage exceeding the amount established by the contract, the remaining part is borne by the homeowner. By deductible, however, we mean the minimum amount that must be reached for the damages to be covered by insurance; if they are lower than the deductible, everything is the owner’s responsibility.
It is therefore necessary during the stipulation phase Be extremely careful not to underinsure your home. Having the house insured with too low a limit allows you to save on the insurance premium, but it also involves the risk that the damage will easily not be covered by the insurance and make the compensation paid in the event of serious damage to the apartment insufficient.
