What is home insurance?

Whether you own your own house or condo or rented property, it is advisable to have insurance, even if the law does not require you to do so. If you take out a mortgage to buy a property, it is quite possible that your lender will ask you for proof of insurance.

In addition to protecting your property and your home, your insurance also offers you civil liability protection. This protection in your home insurance contract will protect you in the event of an event, if you are held responsible for damage caused to others.

Types of protection

You generally have the choice between these two types of contracts for your home insurance:

The Specified Risks formula covers your property against certain risks specified in the contract as well as your civil liability.
The All Risks formula protects your property against all risks, except those expressly excluded from the contract. It also covers your civil liability. This choice will cost more, but you will have better protection.