Benefits of Home Insurance Liability Coverage for Your New Home

September 21, 2023

assegurança habitatge

At present, having a home insurance is a wise investment, especially if you are a homeowner, since this type of policy offers protection against a range of risks, from fires to damage caused by natural disasters. 

Among the most common coverages of these insurances, it should be noted the civil liability, a guarantee that acts economic safeguard in case of damage to third parties.

To know more about this coverage, in Espigul we have prepared an article with all the information about it, from its advantages to some tips, to find the insurance that best suits your needs and those of your home. ¡ Continue reading!

What is liability coverage?

This coverage is an essential protection for the home, since it is designed to cover the costs incurred in case of damage to third parties within a property, including, in many cases, repairs, the cost of litigation and other related expenses.

The good thing is that coverage is available to both owners and tenants in different types of home insurance, offering, in both cases, a high degree of protection in situations where they may be held legally responsible for an incident.

Benefits of liability coverage in household insurance

The liability guarantee offers many more advantages than you think, these are some of them:

  • Legal protection against damage and injury to third parties. If a third party suffers any damage to the property, this guarantee helps to bear the legal costs and the corresponding compensation in case the owner is found guilty.
  • Coverage outside the home. In many situations, this coverage is not limited to your property.
  • Tranquility and security in the house. Without a doubt, one of the biggest advantages of hiring a home policy because, as an owner, knowing that you are protected, allows you to enjoy your home without worries.

Other Home Insurance Guarantees You Should Know

Apart from civil liability, basic home insurance offers a number of specific coverages, including:

  • Coverage of different events such as fires, lightning strikes, smoke and other disasters that happen by chance.
  • Electrical and water damage.
  • Atmospheric phenomena.
  • Coverage of theft, as long as it affects the contents of the home, even going so far as to cover damage caused during theft, repair of locks, etc.

There are also a number of additional coverages that some policies may include to provide greater security in the home. Some of them are appliance repair coverage and compensation in case of robbery.

Tips to calculate the most suitable insurance for your home 

In order to calculate the appropriate household insurance, including liability, you need to assess a number of factors as an owner:  

  • Value of the content and the continent. That is, the total value of the property, which includes both the structure and the personal goods of its interior. This is the starting point for setting the economic limit of liability coverage.
  • Personal assets, such as bank accounts or possible investments, as this may influence the choice of a more complete modality.
  • Specific risks and property needs. For example, the crime rate in the geographical area or the frequency of natural disasters in the neighborhood.
  • Other characteristics of the house. At this point it is advisable to consider the specific risks of your property: if you have a pool, large pet, etc. In that case, you may need a higher coverage.

If you want to know more about real estate, do not hesitate to contact our team.

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