Everything you need to know about the different home insurances

• Damage policy. It's the most basic and mandatory policy by law in case you are paying the house through a mortgage. The insurance is determined by the cadastral value of the property, excluding the value of the land, and its purpose is to compensate the owner in case of damage and, in this way, to ensure the payment of the mortgage. Normally, this insurance covers only the structure of the house (the continent). If your property was destroyed due to a fire or other natural elements, your insurer should face the outstanding debt with the bank.
• Multi-risk policy. These types of policies cover both the continent and the content and are the most complete ones that exist. Many times they also include, as basic coverage, civil liability to third parties. This type of policy derives several modalities, which is why, on many occasions, the aforementioned coverage can be contracted independently.
• Loan repayment policy or, in other words, life insurance. This policy, apart from home insurance, includes coverage of deaths as well as permanent or absolute disability caused by an accident. If the bank has granted you a mortgage, it's not necessary to contract this type of policy. It's true, however, that it's recommended to avoid surprises and to protect you and your family from unexpected situations.

When choosing insurance, we recommend that you let yourself be advised by a professional. The most valued deserves the best protection!