For homeowners, home multi-risk insurance is the necessary security for the protection of their property, but also for damage caused to third parties. It is therefore strongly recommended to take out a contract of this type.
Do not underestimate the value of the principal amount
The higher the insured amount, the higher the premium. But this is not a reason to underestimate your assets. For a standard home, count from 5,000$ to 10,000$ of furniture per main room. Reassess this amount after a major purchase (for example, video equipment) or heavy work (building a veranda, elevation).
Study the clauses of the contract carefully
Look at the amounts of the deductibles (the amount that will remain your responsibility in case of disaster). Ask about the repayment terms: will it be done after applying a coefficient of obsolescence (for example, 10% per year for a sofa) or new value, that is to say, to say without obsolescence?
For the flight guarantee, check the requirements (alarm, three-point lock, easily accessible windows bars) of the insurer. If you do not respect them, your compensation may be reduced.
Remember to insure your dependencies
Check that your outbuildings (garden shed, garage or cellar) are covered by your home contract. If you have equipment such as a swimming pool, you must take out a complimentary guarantee.
Check the extent of your civil liability
Your home rental property insurance also covers you for property damage or bodily injury that you, your spouse, your children or your pet, could cause to a third party. Look at the exclusions (the practice of a dangerous sport or possession of a dangerous animal, for example) and, if necessary, ask the insurer to adopt the guarantees.
Do not focus on the amount of the premium
More than premiums, compare the guarantees. Indeed, the modesty of a premium can simply hide a reduced coverage. Also look at what services are offered in case of disaster.
To succeed in a rental investment, you must invest personally in operation, act with the method and apply some basic rules, such as being well insured.
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To cope with the risk of unpaid bills, which affects 3% of leased goods, landlords who are in the housing or not can take out specific insurance. The best known is the guarantee of unpaid rent, whose objective is to protect you from unpaid rent and charges, the deterioration of your property, litigation costs and the premature departure of the tenant.
The guarantee of unpaid rent
The main guarantee concerns unpaid rent and / or rental charges, but insurance coverage is not unlimited. In case of damage, the insurers provide for a maximum duration of compensation (24 or 30 months).In addition, an overall ceiling of compensation is often provided: between 75,000 and 100,000 dollars. Also be aware of the limitations of each warranty.
- Litigation costs (recovery of outstanding payments, eviction of the tenant, etc.) are covered, usually without additional cost.
- A payment limit can, however, be applied.
- This guarantee is appreciable not only financially, but also for the comfort it provides when the litigation procedure is entrusted to the insurer.