Three reasons to have a home insurance

In recent years, cases of floods and fires have been increasing in Bulgaria, leaving dozens of people homeless, and the state is unable to support all of them. How can we counteract the risks and provide protection for undeniably the most valuable and relished material asset we have - our home? The answer, of course, is very simple - we buy ourselves insurance. As a natural step, when we buy a car we take out a Motor third party liability insurance (MTLP insurance) and Casco* insurance (*abbrev. from casualty/collision insurance) for motor vehicles, and forget that we can protect our home from unforeseen risks such as fire, accidents, theft, flood, robbery, earthquake for less than 1/3 of the price of the compulsory insurance. Today, we present three reasons that we believe will convince you not to delay taking out property insurance any longer.

Easy and fast

Most insurers offer property insurance packages that include a fixed set of risks and limits. This saves time for custom calculation of the premium for each insurance applicant, and clients are spared completing a questionnaire and an inventory of the property, as well as a visit by an insurer’s representative for the contracting of the insurance;

Affordable price

The prices of the “Home Property” insurance packages that start from 20-30 BGN per year. Yes, you read that correctly - an insignificant amount that provides coverage for one entire calendar year. However, our advice for your is not to settle for the minimum coverage, but to invest a little more. Thus, for only 50 or 60 BGN a year you will sleep peacefully, knowing that your home is protected not only from the main risks, such as fire, but also from theft, robbery, short circuit and plumbing accidents. The insurance can also be taken out in installments, which makes it even more affordable for the end customer;

Handyman

A large number of insurers offer the service of a trusted or home handyman with the Home Property” insurance packages, which may be free of charge or for an additional price. The service is a great convenience for the customer as it provides non-cash repair of damages. That is, after making the claim, you do not receive cash compensation but a visit from a licensed professional who will perform the necessary construction and repair works together with the necessary materials, and will provide a guarantee for the repair. This saves time and effort in finding a good handyman. Sometimes this also saves money.

By insuring your property, you save yourself the unforeseen costs of recovering destroyed or stolen items, broken doors and windows. The insurance can even cover your neighbors’ damages, which have been caused by you.

If, despite the reasons provided, we have not entirely convinced you of the value of this product, here is our last wild card: Unlike the cars, which we insure without thinking blinking, properties, especially those in larger cities, usually increase their value rather than lose it. What better reason to take care of them and put them on our top financial priority list?

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