Our home is one of the most precious possessions we have. Therefore, to hire a good household insurance is essential in order to feel protected and safe. It is important to make the right choice and to know which factors influence the final price. First of all, we must bear in mind the features of the house, especially the type of property and its size because these facts will influence the the price.
However, what we must accept is that a household insurance is a fundamental issue. It is estimated that around 16.000 incidents take place daily in Spanish homes, so we must be aware of the importance of protecting it.
WHICH FACTORS INFLUENCE THE FINAL PRICE?
In this blog we have already talked about fires and thefts in our homes. Thus, it is a key question to have a household insurance if we, unfortunately, have to face one of these misfortunes. Whether we have or not have an all-risk insurance, the insurance company takes into account a number of circumstances in order to set the price. Let´s see the main ones.
Size: The size of the house is proportional to the price of the household insurance. The larger the house, the more expensive the insurance will be.
Location: The location will also determine the cost of the insurance. It is not the same to protect a house which is located in a peaceful area or if it is located in a more dangerous one where thefts and weather disasters are possible. The price also varies if the house is in a urban or rural area.
Features of the house: An old house with low quality building materials is more liable to suffer damage than a modern house built with high quality materials. Therefore, depending on the type of house, the price of the insurance varies.
Valuable pieces of art and jewellery: If your house has objects of great value such as jewellery, paintings or works of art, the price of the household insurance will undoubtedly increase.
Contents and buildings: The contents of a house are: furniture, household appliances and one´s possessions. Whereas, the buildings are: walls, ceilings, piping and the structure of the building. When we sign a household insurance, all these factors are valued, and thus, the price. If you sign an underinsurance or an overinsurance, this fact may lead to economic loss in case you need an indemnification due to theft or damage.
Civil liability: If you are insured for third party liability, then the price rises. The price will be set depending on the amount of money agreed in the event of an accident.
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