IN BRIEF – Fire and explosion insurance policies provide compensation to the insured if the home is damaged by an accidental fire. This insurance coverage is mandatory in the case of a loan on the property
Although there have been several legal attempts on the subject, to date in Italy there is no insurance obligation on the house. However, this does not mean that it can not be useful and in some cases it is absolutely necessary to reflect on the possibility of spontaneous access to insurance coverage that ultimately protects the biggest investment of a lifetime, ie our house.
On the other hand, the news that comes to us every day from newspapers, TV and the web show us clearly that the domestic one is still a risky environment . And it is no coincidence that many families have already begun to consider freely the hypothesis of protecting it against the most widespread risks such as those determined by fire.
Thus were born the house policies against the outbreak and the fire of the property , a type of insurance coverage that provides for a refund in favor of the insured in the case of accidental flames should damage the building itself or its contents. Similarly, especially in the earthquake areas of the country, many families have decided to activate a house policy against the earthquake , thus ensuring not only an indemnity against possible damage from the earthquake, but also the maximum assistance in the weeks and months post earthquake.
This post began deliberately with a beginning that referred to the non-compulsory insurance policies on the house. In reality, however, there is an exception to this rule which concerns the houses on which a mortgage is active.
To understand what we are talking about we can consider the case of a family that is buying its first home and that, like many others, needs financing, or mortgage. Well in this case the bank will force the same family to contract a policy against the outbreak and the fire in connection with the loan.
It is not an abuse but a specific dictate of the law. Contractors must therefore insure the property against damage caused by fire and accidental explosions at home . Such a mandatory policy serves to secure both the bank and the insured. Both in fact, in the event of a fire that would destroy the property, they will not see their investment disappear as they will be able to count on an insurance reimbursement that will cover the damage suffered.