What is the relationship between community insurance and home insurance?
Living in a community of neighbors is accompanied by many doubts about the management of their claims, which can break through the doors of our home. Have you ever wondered where to start and where does home insurance end up versus a community insurance? In this post we will help you understand the need to contract both insurance, without fear of duplication or to exclude some coverage that can bring great value both for your home and for the common building.
Why do I need to take out home insurance and community insurance?
The first thing to know is that, although neither insurance is mandatory (home insurance is mandatory if your home is mortgaged), contracting both is highly recommended. In other blog articles we have already explained to you the need to take home insurance for your home, to protect you and your family from unexpected events that may occur both inside and outside the home , so it seems logical to think that if we look for a Home insurance with maximum guarantees for our home, we will make sure that our peace of mind is extended to our community.
The safe communities are especially useful to support homeowners facing potential losses that may have within public areas (loose tiles, broken water mains, fire …) or for the management of the community, as is the claim For non-payment of Community expenditure.
Community insurance, as well as home insurance, show great flexibility to adapt each policy to the needs and particularities that each home and each community present. However, community insurance covers damage to the building, but not damage within our private home or damage to third parties. To cover these spaces where a home insurance or a community insurance can not arrive, we need the hiring of both policies .
The coverages adapted to its scope of action
At first glance, it may appear that both insurances show common duplications and coverages, but the truth is that, in addition to the specific coverage that each policy presents, we can find others adapted to its scope of action. As for example, the guarantee of glass breakages , which usually only include window panes of the façade and community doors, but not inside the homes. This is where the community insurance ends and home insurance begins, with the coverage of broken glass, mirrors and glass, among other materials.
Although we look at coverage, there are very complete community insurances that can ensure coverage beyond the community level. This is the case, for example, of the guarantees that cover the damages by private waters or the aesthetic damages to the private continent.
In terms of content , it is necessary to distinguish between community content (such as the furniture of the portal, the meeting room or other common areas), the private content of each dwelling. Although it is possible to include the protection of the particular content within the insurance of communities, the most habitual and advisable is to include it within the home policy .
The specific case of Civil Liability
With regard to Civil Liability , it is clear that community insurance would take care of situations such as, for example, the detachment of elements of the façade that hit passersby. However, in the event that a community pipe rupture causes the flooding of one of the dwellings in the building?
In this case, the owner of the home is a third party for the community (unless the policy limits this circumstance), and would be protected by Civil Liability coverage. That is why it is necessary to understand community insurance as something more than maintenance insurance.
Likewise, Community Civil Liability does not act if the problem of flooding occurs between two neighbors, but it will be the civil responsibility of the home insurance of the responsible who took care of the expenses of the affected floor.
The home insurance covers civil liability as owner or tenant on the content and continent of your property and, in a complementary way, actions of your private life, your family and your pets . On the contrary, community insurance, in addition to acting on the common facilities of the building, incorporates the civil liability for cases of work accident of employees of the community.
Home insurance and community insurance are complementary and not substitutive and each covers specific needs and risks and both, together, protect us from the unforeseen events we are exposed to from time to time, both inside and outside our home and our community.