When you purchase a residence in Tenerife, your mortgage lender will require that you buy Tenerife home insurance to protect the dwelling. Over the course of your mortgage, you must maintain proper house insurance until you’ve repaid your loan. Once you own the property outright, you are no longer obligated to insure the building.
However, most Tenerife home owners value their property enough to insure the building and its contents with a comprehensive Tenerife cheap home insurance policy. Buying a dwelling in Tenerife is a sign of achievement, not to mention one of the most significant financial investments you may ever make. In the event of a fire, a storm or other natural disaster, the damage to your home could be financially as well as emotionally devastating. Protecting your property helps you maintain your financial stability under almost all circumstances.
Damages caused by fire and smoke, water escape from broken pipes, falling branches or objects from aircraft, vandalism and theft are covered under most building and contents policies. In the event of a theft, Tenerife home insurance may also cover damages to locks, doors and window panes. Before you sign a contract, it’s important to review its exclusions carefully.
When you’re in the midst of buying a property in Tenerife, there’s very little time to shop around for the best deals on building or contents cover. It can be very tempting to accept your mortgage lender’s cover, or to settle for the first offer you receive just to meet your obligations. We can simplify the process of finding reasonably priced coverage for this investment in Tenerife. The dwelling you occupy and the belongings you keep in its rooms are significant assets. Your residence is a source of security for your family as well as a key component of your financial stability.