WHAT LIMITS AND EXCLUSIONS HAVE INSURANCE MULTI-RISK HOME?

WHAT LIMITS AND EXCLUSIONS HAVE INSURANCE MULTI-RISK HOME?

In the form of multi-risk home insurance have a series of limits and exclusions on coverage of certain damages that need to be known. 

Many people confuse a multirisk insurance with all-risk insurance, as if it were a car insurance, but are two different concepts. In any case, it is essential to read the clauses of the policy to know what are the limits and exclusions of the insurance contract, since these may vary in some points of some policies to others.

LIMITS ON HOME INSURANCE

Damage caused by water

Damage caused by water, in some cases, coverage is limited to a part of location and the troubleshooting expenses or the payment of a maximum amount which includes costs more indicated the damage that had been caused, leaving the remaining amount payable by the insured.

Damage caused by fire

In the case of damage caused by fire, some insurance companies only cover a percentage of the costs of the fire service or establishing a limit maximum in that concept, leaving the rest of the amount payable by the insured.

HOME INSURANCE EXCLUSIONS

Negligent acts

In general, home insurance do not cover damage caused by negligent acts or by wear and tear of the goods insured. They also tend to cover damage caused by the lack of necessary repairs to the property insured for the correct operation of the same, nor damage due to moisture, condensation, or water entering the property because of weather.

Damage to electrical appliances

Damage in electrical appliances may also be excluded from home insurance. Some companies only cover damage caused in lightning strike or damage in devices that have a certain time, being excluded the older devices. This antique the fixed insurance company.

Lock changes

Some companies only covers the change of lock when this has been forced, leaving excluded this change in the event of loss of the keys.

OTHER COVERAGES THAT MAY BE EXCLUDED OR LIMITED IN HOME INSURANCE

The following coverages may or may not be included in the home insurance and, in the case of be included, have limitations:

1. The broken glass, sanitary, electric cooktops and moons may be limited; in the case of damage occur by reforms or defects in installation or placement these damages can be excluded.
2. The cosmetic damage can also be limited.
3. Other warranties that may be limited is uninhabitable, which covers the costs of hotel or rental of housing to the insured and his family while they have to be away from home as a result of an accident.
4. The fraudulent use of stolen credit cards stolen has a limit of compensation to be fixed by the insurer.
5. Compensation is also limited for loss of food and supplies electrical fault or the power.
6. Documents replacement coverage is also limited.
7. Other limited coverage is the temporary removal of goods.

Practical advice

It is essential to find out the limitations and exclusions of insurance home to assess to what extent interested or not the limit of coverage and exclusions. Not all banks are the same and better conditions are available.

In any case, to ensure greater (up to the limit) compensation or insurance to cover certain damage, it is advisable to request an assessment of the assets insured to the own insurance at the time of the contract of insurance. Thus it will be bound by its own opinion.

Make her living by the value exact is the best way to not have problems with compensation and not applied the proportional rule.