Insuring a property: an important and very current topic
How important is it for a property owner to insure the real estate assets? When you decide to invest in a property, the objective is to maintain a certain stability which won't be subject to market fluctuations. Furthermore, if you are lucky enough to own a property since generations, you easily understand that the value of a property is not only of an economic nature, but above all personal. This type of value cannot be quantified. It goes without saying that the safety of this heritage must be guaranteed.
If we then think that in recent times the frequency of extraordinary and devastating events such as fires, floods, thefts, extreme and destructive weather events, etc. has (unfortunately) increased, it becomes important to think about securing your real estate assets for the future.
Here are some "reflections" which do not replace the technical opinion of an insurance expert but which would only like to raise awareness of the idea of proceeding with the "safeguarding" of property assets through:
- Property Insurance: It is recommended that you obtain a property insurance policy to protect the value of your property from damage, such as fire, flood, damage to structures, theft and more. This insurance is optional but strongly recommended to protect the investment and guarantee a certain financial peace of mind.
- General Liability Policy: You can also opt for a general liability policy to protect yourself from claims for physical damage or injuries that occur on your property. For example, if a person gets hurt in an accident on your property, this insurance can cover the legal fees and compensation sought.
- Contents insurance: it is recommended to also consider insuring the contents of the property, such as furniture, appliances, valuables and other personal property. This coverage can be useful in the event of theft, fire or other events that cause damage to internal assets.
- Rentals insurance: If you rent your property to a third part, you may need to take out a rentals insurance policy. This type of insurance protects the owner from legal liabilities or damages caused by tenants or visitors.
Ask your trusted agent for information: an insured home is a protected one.