We currently live in a society that, for different reasons, does not allow us to have total control of our lives, including our material assets, by having to worry about different situations in our daily lives such as our work, our relatives, our economic obligations, etc.
For example, one of the quality situations we cannot deal with 100% personally is the security and integrity of our home; Either because we are outside it because we have to work, we are on vacation, an unexpected accident occurs or due to force majeure such as some natural earthquake or flood catastrophe.
However, there are different types of solutions for these events that will allow us to be calm in case something bad happens in our house such as home insurance or family combined insurance.
These home insurance not only cover material damage at the time of theft, an accident to an inhabitant or guest of our home or a natural disaster. But also, depending on the insurance purchased, they can cover plumbing services, medical assistance, financial advice, among others.
In order to make the decision to access a home insurance policy it is important to have knowledge about it – what type of property will you insure me, how much is the cost of the annual or monthly premium, how much is the value of the deductible to pay in case of having to make the policy effective, how to make the policy effective.
In addition to being informed of the experience that other users have regarding the use of it and its benefits The main problems that arise when making a home insurance policy effective are ignorance of its benefits, access to the correct policy according to needs, the language of the contracts (the small print present in the contracts) and the value paid by the policy that may not be equivalent to the value necessary to cover the inconveniences that must be resolved.
Although, as mentioned earlier, home insurance may be a less worrying concern for us, it also has negative aspects that should make us think how beneficial it will actually be to acquire one of these insurances.
When purchasing a policy for our home if we want to be 100% sure that it will cover all repairs we must take into account that there are other additional expenses such as endorsements. It should also be taken into account that, by business, insurers will do their best to have to pay the least amount of the value of the policy at the time one of their clients must make it effective, to the point that the client must seek a Second opinion of an independent contractor, spend on a public adjuster or until you reach an arbitration.
These processes can be worth up to 20% of the value of the policy. Taking into account the aforementioned negative aspects, the insurers suggest to their clients not only to take into account the total value of the insured good and of the goods that are inside, but also to have an analysis of the value of the workforce, the value of the materials and the value of the goods that must be acquired at the time of having to make a restoration in the home, without leaving aside also the value of the goods like jewels and works of art that may be in the property.
They also suggest being up to date on current local horizontal property regulations. In the particular case of Colombia, insurance is not seen as necessary in our lives, either because of our little culture of prevention, or because of the few natural catastrophes that occur here compared to countries such as the United States or Asian countries.
In addition to the high cost of home insurance due to the high crime rate of the country, the process to have the benefits of the policy and the little information of the insurance agents of the fine print that are in the contracts. Finally, in my opinion, access to home insurance can become a necessary tool that will bring us many benefits; mainly in the event that a calamity occurs in our house which we will not have to face alone but we will have the full assurance that someone else will be supporting us.
Similarly, it should be noted that before accessing one of these insurances, we must advise ourselves by a lawyer specialized in insurance matters and make a thorough study of all the offers that exist in the market, not only to access the one that does not work but also to the one that is most economically adequate for us.