This home insurance is responsible for covering the damage caused in a house, for example, damage caused by leakage, glass broken by some event, destruction due to fire, damage caused by natural phenomena and this insurance covers what is stolen.
This insurance has to be responsible for covering the expenses of a third party that is injured or provokes material damages that are inside the insured home for example if you drop an object from the balcony and hit a person or break a window the insurance must respond and another serious example that without wanting to leave the sink open and without wanting to flood the department in that case the insurance has to cover all the expenses incurred.
In countries like Spain it is not obligatory to have a home insurance as it is to have car insurance.
When we buy a home insurance, we have to take into account on occasions that the insurance is responsible for covering the expenses and to what extent it will cover. Each insurance policy has very different terms and conditions, which is why it has to be carefully studied in order to be able to advocate for the fulfillment of the contract at a certain moment.
The policies are acquired depending on how your house is structured and the use that is going to give to that house, so there are different types of policies that fit with the needs of the insured and others that simply do not suit as it is very far from the needs of the insured. So you have to analyze them to make the right decision.
Insurance coverage is based on two terms which are: Continent and content
Home insurance continent: it is basically the structure that make up a house and its dimensions. For example, each one of the walls that contains the house, the doors and windows, the cabinets, the bathroom among other elements.
Home insurance content: is all the material that the house contains inside. for example: paintings, decorations, household appliances, tables and furniture.
You have to be very clear about these two concepts as they will help you when choosing which home insurance you should opt to be in full safety. For example, if you live rented in a house and want to have all your property in the house you have to choose an insurance policy that only protects your belongings that contain the house, but if you are the owner of the house and rent it they have that having an insurance that protects only your house in this case would be a continent home insurance and if you are the owner and live in your home it is convenient to opt for an insurance that contains the modality of continent and content to have both your home insured as they are its elements within it.