How does home fire insurance work and where can I get it?
Learn all about home fire insurance
Announcements
According to the Tenancy Law (8,245/91), every rented property must have residential fire insurance.
And this service raises many questions. After all, many people know how important it is, but not exactly what it covers.
Furthermore, some tenants do not know whether they are the ones who should pay the insurance or whether it is the property owner's responsibility.
To find out more, read on.
How does home fire insurance work?
Fire insurance is a home insurance coverage that aims to protect the property from damage caused by fire.
That is, if there is a fire or other situations that cause the destruction or deterioration of the rented property, insurance guarantees compensation.
When you take out fire insurance, the basic coverage package is automatically acquired.
Along with this insurance, there are other coverages included in the basic plan: lightning and explosion.
It's important to remember that the obligation to purchase coverage only concerns fire coverage. This means there's no need to purchase separate coverage.
How much does home fire insurance cost?
This is also a very common question for those who have to take out fire insurance.
However, it is not possible to say that there is an exact value for this type of service.
Ultimately, the final value depends on the property's characteristics. A personalized analysis will be performed regarding the value of fire insurance.
The aspects that are taken into consideration are:
• Property type
• Location
• Construction method
• Goods that are located inside the property
Who should pay fire insurance when the property is rented: owner or tenant?
According to the Tenancy Law, the property owner must pay the fire insurance.
However, if the contract stipulates that the tenant must pay the fire insurance fee, the responsibility becomes the tenant's.
For this reason, it's important to read the contract very carefully. This way, you'll avoid surprises.
If there is no such obligation, payment of fire insurance will be the responsibility of the property owner.
In any case, if necessary, the tenant can enjoy the benefits of the service.
Homeowners insurance offers excellent value for money, as the total cost is low and covers a variety of potential problems.
What are the main advantages of fire insurance?
One of the main reasons for taking out insurance is to guarantee protection.
Insurance protects you against any uncertainties and risks that may arise. It's no different with home fire insurance.
Among the main advantages of this service, we can mention:
Property protection
By taking out this type of insurance, the consumer can have their home protected against fire.
Protection of real estate assets
Fire insurance coverage is broad, meaning it can cover the entire contents of the property.
This includes appliances, household equipment, electronics, clothing, among others.
As you can see, in addition to the property itself, the insurance can cover all these assets, in the event of risk implementation.
Cost-benefit
As mentioned earlier, home fire insurance is relatively inexpensive.
However, the benefits it offers are very advantageous.
It offers coverage guarantees and functional emergency services. If you had to purchase everything separately, you would spend much more.
In fact, if a fire breaks out in the property and the owner does not have homeowners insurance, the loss will be even greater.
How to get home fire insurance?
Payment is the responsibility of the owner or tenant.
However, it is the real estate agency or real estate broker responsible for brokering the deal, who will carry out the process of contracting the service.
Nowadays, due to technological advances, it is much easier to purchase home fire insurance or any other type of insurance.
It is important to mention that although this insurance is mandatory for rented properties, the owner or tenant are not required to take out insurance with the insurer indicated by the real estate agency.
How to choose the best home fire insurance?
Fire insurance is one of the most basic services offered by insurance companies.
For this reason, you will have several options and, therefore, choose the product that best suits your needs.
To choose the best option, consider whether the objective is to protect only the structure of the property or also the assets inside the house.
Discover some of the main fire insurance options:
Porto Seguro
In addition to coverage against fire, explosion, smoke, and aircraft crash, you can purchase several other types of coverage, such as:
• Theft or robbery of property
• Falling glass
• Electrical damage
24-hour assistance is another benefit offered by home insurance.
At this insurance company, one of the largest in the country, you can choose from three service plans: Free Essential Plan, Comfort Plan, and Exclusive Plan.
Allianz
Allianz also offers home insurance.
Regarding plans, you can purchase the most basic or the exclusive one, which offers maximum protection.
See some of the main coverages in the compact plan
• Fire, lightning, explosion, smoke and aircraft crash
• Electrical damage
• Civil and family liability
• Gale, hurricane, cyclone, tornado and hail
Tokyo Marine
With Tokio Marine's home fire insurance, in addition to basic coverage, you can purchase additional coverage.
It's an excellent option for your home, as it guarantees protection against fire, electrical damage, and 24-hour assistance services.
24-hour basic assistance offers services such as locksmith, plumber, electrician, drain cleaner, glazier, and help desk.
Conclusion
Home fire insurance is mandatory for rental properties.
However, it should not be contracted just because it is mandatory, but because of the guarantees and protection it offers.
Depending on the contract, you may even be able to count on useful assistance in your daily life, which includes expenses with electricians, for example.
