Home insurance is based on a contract that is usually valid for one year. The agreement can only be terminated prematurely
Home insurance
Home insurance protects your property if you have a detached house. Most people who are in that situation choose to get home insurance that is great security for all property owners. Many people who have home insurance through their union need to buy home insurance. If you have a holiday home that you want to insure, you can take out a special holiday home insurance that has almost the same content as villa insurance.
Home insurance is based on a contract that is usually valid for one year. The agreement can only be terminated prematurely if you sell the property to which the insurance applies. When a year has passed, home insurance is often renewed automatically if you do not want to change insurance company or cancel your home insurance for any other reason. It is usually the owner of a property who must take out the insurance. If you rent a house, you may be required to take out your own home insurance but not home insurance.
Extended home insurance
Home insurance is often included in combined home insurance. With other insurance companies, home insurance is something that is taken out separately or as supplementary insurance to your home insurance. The most important difference between home insurance and home insurance is that the home insurance protects movable property and those who live in the home, even when they are outside it. Villa insurance protects the residential building itself and the plot, which is part of the property. That is, what is called real estate. Certain events can mean that both real and personal property is damaged and then both insurances take effect.
Do you have to have home insurance and home insurance with the same company?
No, it is possible to take out these different insurances with different insurance companies. It is not at all certain that one and the same company can offer you the best terms for both of these insurances. It pays to compare terms with several different players before you take out home insurance. With that said, it is often a flexible solution to take out combined home insurance. Several insurance companies also offer nice discounts when you take out several different insurance policies with them.
What damages does a home insurance cover?
A property can suffer from a number of problems and exactly which events entitle you to compensation if you have home insurance can vary between different insurance companies. Here are a couple of events that homeowners can experience and which usually give the right to compensation on the home insurance:
Fire
Stormskador
Lightning strike
Explosions
Flood and other water damage
Damage to pipes and wires
Damage to fixed furnishings
Problems caused by pests
Damage that affects important installations such as boiler, drain and ventilation
Damage to outdoor real estates, such as fences, carports, outbuildings, jetties or flagpoles
Damage to the plot, such as walkways, trees and plantations
Liability protection, if for example a neighbour, visitor or craftsman has a claim for damages against you in the capacity of the homeowner
With home insurance, you can also receive compensation for extra housing if extensive repairs have to be carried out. The insurance also gives you the right to legal protection.
A combined villa home insurance provides protection in many more situations than those listed above, but should not be compared with pure villa insurance. You pay a higher premium for home insurance. It also includes such things as:
Travel insurance
Compensation if you suffer abuse
Compensation in the event of theft
Drulleförsäkring
Protection against ID theft
Crisis management
However, home insurance does not protect in the event of theft or damage that affects vehicles, but special vehicle insurance is needed there.
To sum up, it can be said that home insurance applies when a property is affected by accidents due to both the human factor and dramatic natural phenomena. Damage that occurs due to errors in the construction of the house can also be entitled to compensation as long as it is not about known faults where no action has been taken. A combined villa home insurance also protects movables and the people who live on the property.
What is not covered by home insurance?
Although a home insurance policy provides excellent protection and can be almost invaluable when the accident occurs, there are situations when it does not apply, even though you might think so. Some damages are of such a nature that the insurance companies only provide compensation with restrictions or if you have taken out supplementary insurance. How comprehensive protection you can get from home insurance depends on which insurance you have chosen. Many insurance companies have an arrangement where you choose between basic and more comprehensive protection. What is included in the insurance simply depends on how much you pay for it each month. When comparing home insurance, it is therefore important to be aware of what different insurances cover, and what restrictions apply to payments in the event of different events.
Home insurance does not provide compensation for fire if it turns out that the fire occurred because you left a candle unattended. It is always difficult to get compensation if you yourself have been negligent. This may be the case that you did not empty the pipes of water in the holiday home and they therefore froze, or that you received water damage due to problems you should have been aware of. When it comes to pest infestations and house fungi, it is common for an insurance policy to only cover certain costs and for special conditions to apply.
The market value controls how much you can get out
Liability protection, or damages protection as it is also called, can entitle to compensation in the number of millions in extreme cases. Otherwise, the market value is the benchmark when determining how much compensation you are entitled to when something is damaged or breaks. If a villa is completely destroyed in a fire, it is the amount for which the villa could have been sold that the insurance company will pay out or the cost of building a new house on the same site. The difference between having and not having home insurance is very large when a serious event occurs.
Cheap home insurance is not always the most affordable
When it comes to home insurance, you get the protection you pay for. Large insurance that gives you the right to compensation in the event of many types of injuries and accidents is more expensive but can be worth the difference in price many times over if you end up in an insurance case. The size of the compensation amounts in the event of different events can also vary between different home insurances.
Deductible and age deduction are two other concepts that are important to know as they can be very decisive for how good home insurance is. The deductible is the difference between what you pay to repair or repair something and what you receive in compensation from the insurance company. Different events can have different deductibles and how high the deductible is depended, among other things, on what you pay in insurance premiums. A high deductible means a lower premium and a low deductible means that you pay more per month for your insurance.
Age deduction means that you will not be reimbursed in full if something happens in an older house. In other words, the insurance company will not give you the same compensation for a newly renovated bathroom as for one where the surface layer and fixtures are 30 years old. The size of the age deduction that the insurance companies make can vary greatly. The same type of deduction is made if you have home insurance and happen that, for example, an older TV or dishwasher breaks down.
You have the opportunity to influence the price of your home insurance by:
Choose how high the deductible should be
Have various safety devices that reduce the risk of accidents
Collect several insurances with one and the same insurance company
Compare insurances from different companies
Apply for and take out insurance online
Ordinary supplementary insurance to a home insurance
In addition to the fact that you can often choose between different packages when you take out home insurance, you can usually also add specific insurance. It gives you an opportunity to tailor your protection and get home insurance that includes what you think is worth paying for.
Extended protection if you suffer from house fungus
Small boat insurance
Comprehensive insurance
If you have home insurance, supplementary insurance can entitle you to such things as:
Increased travel protection
Reduced deductible
Higher compensation for damage to older electronics
Home insurance covers those who live in the house
If you do not have pure villa insurance but villa home insurance, personal protection and compensation in the event of loss of movable property are also included. The protection covers those who are registered at the address. However, special rules may apply to tenants. This applies both if you have a long lease and if you rent out a home temporarily.
Summary
Home insurance can be the difference between financial destruction and a good life after a serious accident. Exactly what home insurance should contain, you yourself have great opportunities to influence by choosing between different insurances and making the additions you think are appropriate.
Pay attention to the requirement of care. Even if you have home insurance, you are obliged to exercise caution. If you do not do what you can to minimize the risk of injury, compensation amounts can be reduced. You can also completely lose the right to compensation if, for example, you suffer from theft after leaving the door to your home unlocked. The two main types of home insurance are pure home insurance and combined home insurance.
