Not being a compulsory guarantee, multi-risk housing is still little known to policyholders who are not familiar with its jargon, its coverage and its exclusions. Here are some expert tips for optimal coverage.
Briefly, multi-peril home insurance aims to insure residential buildings and the movable property inside them against the harmful consequences arising from an incident. Multi-risk home insurance contracts also provide civil liability guarantees intended to cover the financial consequences of the civil liability that the insured may incur in relation to, as the case may be, the owner, neighbors or third parties.
For insurance specialists, since the contract is the law of the parties, the first reflex to adopt is to fully understand the clauses of the comprehensive home coverage underwritten. For this, an in-depth reading is recommended to avoid unpleasant surprises when a disaster occurs.
Likewise, at the time of signing, the insured must have the reflex to ask for the general conditions, which complete the special conditions of the contract, before they sign it, because they precisely define the content and limits of the guarantees. The companies, brokers and others have a duty to submit the contract to the customer accompanied by a document containing the general conditions, so that the insured becomes fully aware of what he is committing to. Failing this, he must claim it in order to fully understand his rights and obligations.
In addition, it is necessary to be aware of the reimbursement ceiling before you sign your insurance contract, a ceiling as negotiable as the contract’s other clauses, which conditions the reimbursement of damages. The underwriting phase is over, and when the damage occurs, the insured will benefit from starting the procedure to obtain compensation. As such, the deadline for informing your insurance company is generally five days. Receipt of receipt certifying the claims process is not an accessory. The insured must quantify the damage, fill in a form that is made available to him, or write a letter about the circumstances of the damage. Prepare repair estimates yourself, and of course be provided with invoices for emergency repairs or proof of property that would be stolen in the event of a burglary (when the comprehensive house insurance provides theft clauses).
When this process is completed, the company sends out an expert who prepares his own assessment of the situation, which will greatly influence the decision and the amount of compensation that the insurance company must pay. However, the insured has a right of recourse. If he is not satisfied or considers himself aggrieved, he has several options for out-of-court appeals. The first is to communicate your dissatisfaction to the company to open a dialogue with a view to negotiating a compromise.
Otherwise, and after exhausting the internal dispute resolution procedure specific to each company, there are two options: one or the other and not both, before taking action if the insured is convinced that he has been abused by the insurance company.
Coverage characterized by several exclusions
As a general rule, the insurance company does not refund, in the event of theft or fire, the possessed money and securities and titles of any kind (shares, recognition).
debts, deeds, checks, etc.). Even if the home is insured against theft, the insurance company will not pay out any money until the burglary or violence is clearly established by the authorities. In addition, the insurance company can apply a reduction in compensation if he considers that the house is not sufficiently protected against theft. Furthermore, prolonged absence from home (more than 90 days in general), even when it is a secondary residence, does not entitle to any compensation. Precious items (jewellery, works of art, etc.) are also covered on average only up to 30% of the value of the insured furniture.