Unfortunately, a few days ago we saw how a gigantic fire completely destroyed two blocks of flats in Valencia, leaving 10 people dead, a real tragedy, as well as two blocks in a state of ruin.
From futuseguros we would like to express our deepest condolences to the families of the deceased.
How does an insurer cover a fire like the one in Valencia?
In this case, at least two different types of damage and two different types of insurance have to be distinguished, as far as the building is concerned:
-On the one hand, the insurance of each home is involved, that is to say, the home insurance, if it includes building and contents, both the building (walls, etc.) and the elements inside (furniture, etc.) will be repaired.
-On the other hand, the community insurance (the one that protects the community, i.e. the building and common areas), which covers both the building and elements of the contents, if both building and contents are insured, also enters into the equation.
In terms of damage, fire damage cover (fire insurance is the minimum cover in home insurance) would be activated for what has been burnt and smoke damage cover to repair damage to nearby buildings affected by smoke, both of which are usually basic covers in both community insurance and home insurance.
Coverage can also be activated, such as the uninhabitability of the home, which compensates by paying the cost of a hotel or similar while the home is being made habitable, up to the limit of the insurance policy.
Another coverage that could be activated would be the loss of rents in the case of commercial premises, or homes that are rented and have this coverage in their policy.
In addition to material damage, personal insurance would also apply in the case of deceased persons who had life insurance.
What happens if I am renting and my house catches fire?
In these cases, if the tenant does not have insurance, in principle he would not be entitled to any reparation, if it is the owner of the property who has taken out the insurance, he is the one who is entitled to compensation even for the contents of the property, even if the contents of the property were owned by the tenant.
There is another no less serious risk, if a tenant unintentionally sets fire to his home and sets fire to others in the building, he will have to answer for the responsibility he has for the damage caused. If he does not have insurance to cover this responsibility, he will have to do so out of his own pocket, which could lead to serious legal problems if he does not have the financial capacity to do so.
From futurseguros we recommend that if you live in a rented property you take out at least one insurance policy to protect the contents of your home, or in the best case scenario, reach an agreement with your landlord and take out a complete insurance policy for the property, for a minimum amount per year you can avoid a misfortune.