There are two broad types of home insurance; homeowner’s (hogar) and content policies (contenido).
Policy prices will depend on the declared value of the home and will also be influenced by security features such as barred windows and alarm systems.
Home provides cover for:
- The structure of the house
- The windows
- The floors
- All fixtures
Policies can include:
- Loss of frozen food
- Loss of rental income and the cost of alternative accommodation
- Civil liability; Legal defence
- Damage to interior decoration; water and gas pipes.
- Burglary and theft; replacement of locks and keys in the case of burglary, theft and loss of keys
- Breakage of glass cooker hobs and broken windows
- Acts of God.
The more comprehensive the policy, the more expensive, with all risk being the most costly (todo riesgo). Such a policy would cover both the entire building and its contents.
Content policies cover all moveable objects in the home. Portable objects are not covered when lost or stolen outside of the home.
Policies for second homes and rental properties may be more expensive as a standard homeowner’s policy can only be applied to a property that is inhabited eleven months a year as a main residence.