The type of insurance for a luxury home will depend largely on its typology. We can talk about luxury homes referring to palatial castles with several centuries old or we can refer to fully automated houses thanks to home automation and artificial intelligence.

When we buy a home we want to decorate it to our liking and make it perfect for our lifestyle. We look at the square meters, the distribution, the finishes and the number of rooms when we have to choose a home. When we have found it, since, in general, it will be the largest outlay we make throughout our lives, we will want to take care of it and keep it in perfect condition. For everything that escapes our control (a leak, a theft, a break in a window, ...) we must consider having home insurance. This type of insurance is not mandatory but it is highly recommended to gain peace of mind in your home. If an accident occurs we will know that giving part to the insurance will come your technicians to solve it and we can be unconcerned to some extent.

What makes home insurance more expensive?

The appraisal of the real estate plays an important role because in an insurance, both the property and the contents are taken into account.

We could simplify by saying that the property is made up of walls, roofs, floors and facilities. In order to obtain a quantity to insure, an insurer will calculate the cost of construction by the square meters of the house.

The content, furniture, appliances, works of art, jewellery are all valued...

To ensure a luxury villa, the general size of the villais taken into account, as well as the type of use that will be given to it (primary residence, holiday home, rent, second home...)

In general, the owners of these types of properties have a larger amount of valuables to quantify and ensure, so the necessary security measures are more demanding. They also tend to have more high gear and luxury cars and the size of the garage will be taken into account too.

Location: if the house is in a private residential area with security, the area is considered safer than if it is isolated or in a neighborhood with a crime rate above average.

Features: if the house has a swimming pool, open stairs, or any other disruptive element.

Antiquity: if the construction or renovation is recent, the chances of breakdowns are less than if it is very old.

How to take out home insurance?

When buying a luxury home in the Canary Islands, hiring home insurance is one of the first actions to take.

We recommend asking the insurance companies for different budgets and that they clearly reflect what they include. In the case of works of art, jewellery or other very valuable objects it is necessary to add them in annexes of the policy.

From La Boutique · Canary Real Estate we are not only worried about helping you find the luxury villa of your dreams, but that you can enjoy dream life in it with complete tranquility.