There is a discussion within the Government about whether or not to introduce, within the 2025 Budget Law, the obligation for Italian families to subscribe a home insurancein particular against natural disasters (an obligation that currently only concerns businesses). Moreover, it is a fact that in 2023 Italy recorded a 22% increase in extreme weather events compared to the previous year, with serious damage to agriculture and private property (Legambiente data). However, home insurance does not only cover this type of problem, but can constitute a protection against thefts and damages of various kindsLet’s see in detail what it covers, why it is worth taking out and who it is suitable for, taking into consideration some of the best offers on the market.
What is it for and how does it work?
Home insurance is a form of protection designed for safeguard your property and the assets within it from a series of risks and unforeseen events that could cause significant damage or loss, with potentially very expensive expenses. Main risk categories, atmospheric and seismic events, fire, theft, damage, civil liability, assistance and legal protection, which can be purchased separately or in combination, based on the needs of the subscriber.
Currently, home insurance It is not mandatory. However, in the event of taking out a mortgage, the bank imposes a fire and explosion insurance on the house to protect your right to compensation. Some policies that are part of the mortgage reimburse the value of the house or its contents, while others reimburse up to a maximum amount established at the time of signing the contract (regardless of the value of the property).
What it covers
This type of insurance consists of different protection packages which can offer, if activated together, complete coverage against various types of risks. When defining a quote, it is possible to check which guarantees are included in the policy. The coverages offered vary based on the type of contract chosen, but generally include:
damage to the property: events such as fires, explosions, floods or earthquakes can put the structure of the house at risk. Insurance intervenes to cover the costs necessary for repairs or reconstruction;
damage to third parties: if someone suffers damage to their person or property due to a property or its owner (for example, a tile falling from the roof), the policy will cover any claims for compensation. This coverage is very useful, especially for those with large families or pets that could accidentally cause damage;
theft and robbery: in the unfortunate event of a burglary at home, insurance compensates for the goods stolen or damaged during the break-in. This type of coverage offers great peace of mind, especially if you have valuables or live in a particularly high-risk area;
damage to internal property: In addition to the structure of the house, furniture, appliances and other personal items can also be insured against accidental damage or catastrophic events;
support services: Some policies also include technical assistance services, such as the possibility of having a plumber or electrician available for emergency interventions, thus reducing the stress of having to look for a professional in critical moments.
Why subscribe to it and who it benefits
The main reason why it might be useful to buy a home insurance policy is that it offers a financial protection: serious damage to the property or to third parties can lead to very high costs, which not everyone is able to easily sustain. Insurance allows you to transfer this riskavoiding having to pay out of pocket.
Particularly suitable for the property ownerswho wish to protect their investment and family assets, can also be useful for tenantswhich could insure their belongings inside the home or cover themselves against any damage to third parties. It is also recommended for those who live in areas subject to natural hazardssuch as earthquakes or floods, where the potential damage can be devastating, and to families with small children or pets, who may accidentally cause harm to other people or property.
Additional coverage and damages not covered
As mentioned, home insurance is flexible and allows you to add specific coverages based on your needs. For example, you can include coverage for damage caused by atmospheric events or a policy dedicated to domestic workerssuch as housekeepers or carers.
Damages caused are not compensated from fault or malice of the owner of the insured home, such as leaving the front door open and the consequent theft in the home. An insurance that covers only the walls of the buildingfurthermore, will not be liable for any damage caused to the goods inside, unless this type of coverage is included in the contract.
The costs
The annual cost of insuring a home is on average between 130 and 200 eurosbut can reach around 600 for more complete solutions. The amount of the insurance premium can vary depending on the case and its formation is influenced by some recurring factors, such as the type of property (detached house, villa, condominium, etc.), size and value, municipality where it is located, guarantees chosen by the contractor.
It is good to know that the contractor has the right to to cancel home insurance, provided that the contract is with tacit annual renewal and that all insurance premium payments are up to date. For multi-year contracts, cancellation can be requested only if the policy has been in force for at least 36 months.
It should not be forgotten that home insurance is a set of multiple coversand that it is possible to activate a home insurance policy without some fundamental guarantees. In the event of events covered by guarantees not included, the company will not be required to compensate the insured. It is therefore essential, when choosing a home insurance policy, to evaluate what the Guarantees available and which ones the limits of the policy itself.
The best on the market
After having seen what it consists of and why it can be useful to activate a home insurance, let’s find out what are the best proposals available at the moment, according to the most recent data, relating to August 2024reported by Segugio.it.
Me and my house by Allianz Direct protects both the apartment you live in and the one you rent. This is a policy that also protects against unforeseen events caused by pets and, in the event of fire, explosions or bursts. The customer also has access to the services of an electrician, plumber and locksmith for emergency interventions. The guarantees that can be purchased include: family and pet liability insurance, theft and damage from theft, specialized assistance in the event of an emergency, damage to premises and legal protection in the event of disputes. Discounts of up to 25% are available on the purchase or renewal of additional policies for yourself or for a cohabiting family member.
Home and family by Linear is a modular and customizable policy, valid even if you are renting, with 24-hour emergency assistance. It also includes coverage for physical damage caused while using the e-bike or electric scooter, protection from unforeseen events caused by pets. Among the guarantees that can be purchased: owner’s liability, tenant’s liability, damage to the building, gas, electricity, locksmith and glazier assistance, atmospheric events and vandalism, damage to contents, theft and damage from theft, search and repair of water damage, legal protection for the home and family, cyber risk, family liability, domestic accidents and free time, dog and cat liability, e-bike and electric scooter liability.
Home and family by Verti is designed for all types of homes for the needs of each contractor, even if you are renting. This coverage also protects against legal expenses in the event of civil or criminal cases and simplifies life in the event of an accident or damage, with easy and fast procedures and continuous assistance.
It is possible to customize it with more guarantees, such as damage to the building, owner’s liability, 24/7 assistance for damage or breakdowns, damage to contents, theft of contents, legal protection in the event of disputes and domestic and leisure accidents, private life assistance, pet liability.