Home Insurance, what is it ?
After investing in a furnished apartment in Lille, then rent online this apartment through the company Gotoo Lille, you now receive additional income. But how can you prevent your investment from becoming a heavy financial burden because of an accident? Home insurance was created to avoid any problematic situations.
WHAT IS HOME INSURANCE?
It is an insurance that covers accidental damage to your home or apartment. You have to fix your parquet floor in an apartment in Lille because of a pipe break, a tree fell on the roof of your residence during a storm… So many important expenses that this insurance will fully reimburse you.
Home insurance also covers your belongings, in a furnished apartment for example, considered as the contents of your home. This is called a content insurance extension. It is not mandatory, but strongly recommended to landlords and tenants. A defective gutter lets water getting into your living room, causing damage to your electrical equipment? The Contents option of your insurance will cover the purchase of a new television, or a new computer. Even if you went for shopping before, or your bed sheets or money stored in a drawer, will be covered in case of disaster. Just make sure you keep your bills.
HOME INSURANCE COVERS YOU IN CASE OF THEFT
This insurance’s theft option covers you if you are victim of a burglary. Here again, your stolen goods, from a furnished apartment, will be reimbursed, and any damage caused by thieves (such as a broken door after being forced by a crowbar) are covered.
THE DIFFERENT FORMS OF HOME INSURANCE
Depending on your expectations, there are two ways to insure yourself with home insurance.
Périls Nommés : If you choose this option, you will be covered if perils defined in advance in your policy occur.
Tous Risques Saufs : this insurance is generally more expensive. With it, you are considered covered against all types of perils, except for a few cases that will be defined in your contract. For example, in the event of a nuclear explosion, your insurance will unfortunately not cover it.
HOME INSURANCE, FOR THE OWNER AND THE TENANT
Home insurance is as essential for the owner of a house as it is for the tenant of an apartment. If, as a tenant, you commit damage in the furnished or unfurnished apartment, it will be your duty to repair it.
For example, if you let your bathtub overflowing, and your bathroom floor needs to be replaced… You will be responsible for paying for these repairs. As well as if, in addition, the water of your bathtub damaged the ceiling of the neighbor below…
Remember that a tenant must return a property in the condition in which it was found.
Home insurance will help you make a smooth inventory of fixtures.
HOME INSURANCE WON’T PAY FOR YOUR NEW OAK FLOORING
Be careful not to take home insurance for a miracle banker. The notion of 1 second before the loss, used by insurers, is a revealing formula. The role of home insurance is to help you find your home in the same condition it was in before the loss occurred. If, for example, water damage destroys your pine floor, don’t think you can replace it with a more luxurious floor and present this invoice to your insurer. The amount you will be reimbursed will be equivalent to the value of your old floor, and you will have to pay the extra costs out of your pocket.
Know that the value of your goods is decreasing: each year, they lose about 6% of their price. An Ikea table you’ve had for five years is worth less than when it was new! Your insurer will follow the same logic for all your goods, including your almost centenary vinyls… To avoid that certain collector’s items are not recognized at their fair value by your insurer, think of making them benefit from a particular protection. You will have to subscribe to an option in your home insurance, which will allow you to have your property appraised in order to guarantee you a compensation at their height. Whether you’re an old wine lover, philatelist or even an old comic book fan, it’s better to make sure your belongings are properly covered!
Home insurance reimburses you for the cost of repairing or replacing your belongings in the event of a loss in your home. This compensation concerns both your house and its contents.
There are two types of home insurance. The Périls Nommés formula will cover you according to a list of damages clearly defined in your policy. The Tous Risques Sauf policy will cover all losses that may occur, except for a few cases also defined in your policy.
Home insurance is as essential for a tenant as it is for a landlord, whether you live in a house or an apartment.
Home insurance reimburses the exact value of your destroyed property. If you have to replace your tile after a loss, the value of your old tile will be refunded.
Home insurance considers that the value of your belongings is decreasing: they lose value over the years, and this will influence the amount of reimbursement in the event of a loss.
If you are a collector, feel free to take an additional option to ensure that your collection will be returned at its fair value. Your insurer will appraise it for you in order to compensate you up to its true value in the event of damage.