Résumé:
Monaco Tribune provides guidance on choosing home insurance in Monaco, emphasizing the importance of evaluating one’s assets, selecting essential coverage, comparing offers, and seeking professional advice.
Histoire complète :
When moving into a new home in Monaco, one of the first things to do is to obtain home insurance. With numerous options available on the market, it is important to follow several tips in order to choose the best insurance possible. Home insurance is essential for covering damages to a third party and for protecting one’s furniture and property against various risks. Given the high cost of real estate in Monaco, it is important to select an insurance policy that adequately covers the cost of construction and repairs.
For those who are renting or buying a property in a condominium, having home insurance is mandatory. The only ones exempt from this requirement are owners of individual houses. When opening an insurance contract, it is recommended to assess the value of the assets to be covered. This evaluation is crucial to determine the type of coverage that suits one’s needs the best. Underestimating the value of assets will result in insufficient compensation in the event of a claim, while over-insurance will lead to unnecessary costs. It is also important to note that there are specific options available for covering artwork and high-value items. Some insurers in Monaco offer coverage for jewelry that protects against loss or theft regardless of the location.
Choosing the right coverage involves selecting an insurance policy that offers the best balance between price and quality of guarantees. Essential guarantees to consider include coverage for electrical damage, water damage, theft, and fire. Optional guarantees, such as coverage for freezers or mobile phones, may not be necessary and can be costly. Adjusting the deductible can also affect the premium amount, with higher deductibles resulting in lower premiums. It is advisable to obtain at least three quotes from multiple insurance companies in Monaco before finalizing a contract. Additionally, it is essential to ensure that everything being insured is clearly stated on the policy. Seeking professional advice from an insurance professional or broker in Monaco is highly recommended to make an informed decision and find the most suitable solution based on one’s profile.
Source:
Monaco Tribune
