07/11/2022
🗝️ VARIOUS HOME INSURANCES 🗝️
ANTI-SQUATTING INSURANCE • HOME INSURANCE • NON-PAYMENT INSURANCE
⚙️ANTI-SQUATTING INSURANCE
The first insurance policy that covers squatting so that you can recover your home in the shortest possible time. There are policies for only 28€ per year per property, which guarantee legal protection for homeowners against squatters.
Total peace of mind with your Anti-Squatting Insurance
These days, leaving homes empty for a long period of time can be a big risk. Homes are among the biggest investments we make in our lives, so it is important to protect them.
Having your home unoccupied for a long period of time causes fear and insecurity. Although it is not compulsory to insure empty homes, this insurance offers you protection, as the costs of an eviction are usually around €2,000 and upwards. It is highly recommended to have an insurance policy that covers you in case of squatting. This allows you to have the peace of mind that in the event of an illegal occupation, your insurance will be there to offer you legal support and take care of the legal procedures.
Since 2018, the congress passed a new law that makes it possible to carry out an eviction in a faster way, speeding up the judicial process with the so-called express eviction. In this way they guarantee the eviction in less than 20 days. While it is true that this is a greater support for the owner of an uninhabited house, it also means a greater outlay of expenses.
Hence the importance of taking out an anti-squatting insurance policy to cover you in the event of illegal occupation of the home, offering legal assistance, as well as vandalism, among other things.
For these situations, there are also other alternative insurances that offer you this coverage even though they are not specifically anti-squatting insurances:
• Home insurance: which, apart from having all the coverage of the home insurance itself, also offers you a complement of coverage in case of illegal occupation. In this case, the insurance will also take care of repairs if necessary. We are talking about a multi-risk policy focused on homes with a high risk of being occupied. In addition to civil liability insurance and legal protection, assuming the damages caused to third parties.
• Legal protection insurance: in this case the insurance will also include claims related to the home and, of course, also offering legal support in the event of a squatter in your home.
How can we prevent squatters from occupying our homes? Tips to prevent squatters from occupying your home.
• Take out an anti-squatting insurance policy so that, in case you need it, it provides you with support and back-up, as well as bearing the costs agreed in the policy conditions. It offers us legal assistance.
• To have an alarm connected to the control centre, as well as a surveillance system that will allow you to know at all times the movements inside your unoccupied home.
• The installation of special high security or resistant doors will prevent unauthorised persons from entering, as their composition makes it very difficult to gain access without a key.
• Another good alternative is to rent out the property, thus preventing it from being left empty and unprotected, in addition to the reduction in costs that this entails.
• It may also happen that the rent is not what we thought it would be or that the tenants do not inspire as much confidence as we expected. In this case, it is a very good option to visit frequently and, of course, to have insurance against non-payment of rent to offer you greater security.
• Try to avoid placing a for sale or for rent sign on the property itself, as this would be a lure for possible squatters.
• If the property is in a community of neighbours, it is advisable to have a doorman or security guard. This security figure will prevent the presence of squatters to a greater extent.
How to evict squatters in case of illegal occupation of your home?
This is not an easy process and even less so if you do not have the backing of an anti-squatting insurance policy that provides you with help, legal assistance and covers the expenses agreed in the policy conditions.
• Civil action
• Criminal
This usually takes a long period of time, usually around 8 months if all goes well, plus the headaches, worries and all the paperwork involved, plus, of course, the associated costs if you don't have insurance, such as:
• Lawyer: around €1,000.
Lawyer: around 400€ * Solicitor: around 400€ * Locksmith: around 400€.
• Locksmith: around 300 €.
• Damage caused: will depend on the damage that the squatters have caused to the property. Always preceded by a notarial act to record the damage, which usually costs around €300.
⚙️HOME INSURANCE
What is home insurance, what is it and what is it for?
Home insurance is a contract by which you cover the damage caused to your home and the property in it, in the event of a variety of risks. If we insure, for example, only the building and water leaks out of the washing machine and I cause damage to the neighbour, I will not be covered because the washing machine is the contents.
Home insurance is a contract by which you cover the damage caused to your home and the goods in it, in the event of a variety of risks.
Home insurance can cover both our own damage and the damage we cause to a third party, for example: we cause water damage to a neighbour with a burst pipe.
The initial items that this insurance covers separately are: building, contents and Civil Liability.
The Building is the civil works, an easy way of saying it, but not exact because each company may have its own nuance, is that it is the walls and their fixed installations.
The Contents are the furniture, household goods, electrical appliances, clothes .....
Within the contents, jewellery and valuables must be taken into account, which the companies usually give a percentage depending on the capital of the contents, or, if you do not declare anything, they are not insured.
The civil responsibility covers material and/or personal damages that you cause to a third party, by your own acts or by persons that are under your responsibility, for example a child, or for the damages caused by your home.
This coverage will cover the damages according to the insured items of building and contents. If we insure only the building and water leaks out of the washing machine and I cause damage to the neighbour, I will not be covered because the washing machine is content.
⚙️NON-PAYMENT INSURANCE
Insurance against non-payment of rent.
Insurance that protects the landlord against possible non-payment.
How much does the insurance cost and who pays for it? With reference to the price of rent default insurance, it should be borne in mind that it is between 3% and 5% of the annual rent. This means that, in the case of a rent of 1,000 euros per month, this implies a cost of between 360 and 600 euros per year. However, these figures should be taken as a guideline as they vary for each company.
One of the risks that are assumed when renting a property are the possible non-payments that the tenant may incur. For this reason, in recent years the formula of rental insurance has become popular, a tool that for many has become essential to be able to rent their home with peace of mind. Moreover, this possibility is not only a benefit for the landlord, as in many cases this type of insurance allows tenants who, being solvent, were not able to meet the necessary prior guarantee, to have access to a rented property.
Broadly speaking, this insurance protects the landlord against any possible non-payment by the tenant. But prior to this, the insurer itself carries out a study on the economic viability of the possible tenant by analysing his economic status in order to avoid risks and unpleasant surprises in the future for the tenant.
As we have already reiterated, the basic benefit of this type of insurance is the response to any possible non-payment by the tenant of the property. It is provided through the payment of the rents that have not yet been paid, up to the maximum established in the particular conditions. It is obvious that this is the main and most attractive guarantee for this insurance, but it does not only include this service.
When this insurance is contracted, a series of guarantees linked to the defence and protection of the interests of the lessor are also contracted. In the event of non-payment, the insurer claims from the tenant, through specialist lawyers, the unpaid monthly payments. This process is carried out before there is any judgement, whether for eviction or conviction for non-payment. In addition, the company itself also manages the relevant legal procedures to obtain an order or sentence to evict the defaulting tenant, so that the landlord can dispose of his home in the shortest possible time.
Another of the services included in this home insurance is the possibility of claiming for damages or material damage that the tenant may cause in the home. Along with these services, legal assistance services are also provided, allowing for consultations related to the rights and obligations of the landlord.
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