Insurance is a means to cover risks by transferring them to an insurer that will be in charge of guaranteeing or indemnifying all or part of the incidents generated. In any case, it is a powerful tool for prevent any incidence and in any area of life. Because in effect, there are many kinds of policies since they cover all kinds of activities and processes. There are health, travel, home, car, death, savings, investment and even to protect pets. They can be subscribed according to the real needs of the users, either individually or several policies at the same time.
Until now it was believed that insurance was not mandatory to contract. But this is not true since certain formats, still very few, that totally require their formalization. It is convenient that you know this fact because not subscribing them can cost you very expensive from now on. Among other reasons because they carry heavy penalties that are contemplated in the current legislation. To the point that it can misalign your personal or family budget at any time in your life.
So that you do not have any kind of problems, the best recipe will be to know what insurance is mandatory to hire. There are more than you think from the beginning and some of them are certain of the most common in offers from insurance companies. You may even get the odd surprise in the list of mandatory insurance that we are going to offer you below. Not surprisingly, they are not well known to many of the users in this class of financial products. From now on you will have no excuses for its correct knowledge.
Insurance to hire: fires
You may not know it but at the time of acquiring real estate you will have to formalize fire insurance. It will serve to protect this property from these contingencies and in all cases it will be mandatory if you are really the owner of it. What usually happens is that this special policy is generally included within what are the home insurance. Where other types of coverage are incorporated that serve to protect your home with the greatest efficiency.
But be very careful, so home insurance itself is not mandatory, despite what many users think. If not, on the contrary, the product is that the fire policy is. It doesn't matter which format you choose at the end, but you should always keep this notable precaution in mind. It is actually a product that has a very affordable annual premium for all households and that can help you to get out of more than one problem that may arise at home. In addition, it is a product that is not very complex and that is almost always marketed under the same commercial constants.
Pet insurance
Another insurance that is governed by this peculiar characteristic is that intended for dangerous animals. People who have one of these copies must subscribe an insurance of this modality to preserve possible incidents before third parties. Because if it is not this way, they will be exposed to very heavy penalties for the violation of the current regulations on dangerous animals. In this sense, this type of insurance cannot be confused with those that correspond to our companion animals. In short, they are completely different insurance products, although they bear many similarities between them.
This is another of the insurances that are mandatory and that if you are in this situation you must complete as soon as possible. Of course, you will not have any problem hiring it since all insurance companies contemplate a policy of these characteristics in their current insurance offer and under different approaches in your marketing. Where the particularities of the dog that is in our home are taken into account.
Professional insurance
You may not know it, but there are a series of work or professional activities that require the mandatory contracting of insurance. You can find up to more than 500 insurances that its formalization is forced to protect workers. In activities of all kinds and among which the following stand out that we expose you below:
- Drones Insurance
- Professional insurance (health personnel, maintenance of services, etc.)
- Insurance for other activities (shows, agricultural or construction)
In these cases, it is an insurance product that prevents certain incidents in the work sector and many of which are very specific, such as, for example, that which has to do with personnel working on health or construction issues. In all these situations they will have no other choice but to have insurance that prevent from certain processes at work. In some cases, these are activities that pose a great risk to your safety. In any case, there is a great lack of knowledge about this type of insurance on the part of the users and that they are forced by the employers themselves to formalize their corresponding policy.
Mandatory policies on trips
Another of the insurances that are unknown about their mandatory implementation are those related to trips and displacements in public transport. On the one hand, in the journeys made within the same city and that undoubtedly require a mandatory passenger insurance. However, what usually happens in these cases is that the insurance is incorporated into the bill that is bought to make the trip. In this sense, the user does not have to worry about anything because their needs are covered in all cases.
On the other hand, also trips to other destinations, either in tourist or business formats, carry the obligation to have an insurance that protects them. But as in the previous modality also is covered by the travel reservation. That is, the travel agency or the transport company is in charge. Neither in this scenario the user will have to subscribe it, but on the contrary it will be taxed free of charge for the purchased ticket. In any case, it is another of the insurance that you should have from now on.
Protection of favorite hobbies
Of course, this list has not been exhausted with the cases exposed up to now. Of course not, because the insurance that is destined to preserve some of the hobbies that you have is lacking. As for example, if you practice a sport in which you are federated or simply in activities as common as the hunting or recreational boats. Not surprisingly, current legislation obliges you to subscribe a civil liability policy that contemplates the damages caused to third parties as a result of the development of these activities. That is, if this is your specific case, you will have no other solution than to formalize a policy of these characteristics if you do not want to have some other problem to develop it normally. Because you can also be heavily penalized if you fail to comply with this requirement.
Another of the most representative cases is of people who practice sports and participate in competitions. They need a product that protect and preserve any incident that they could develop with the practice of that sport. This is something that extends to popular races and that when registering automatically you have insurance of these characteristics. The organizers are obliged to provide this service with athletes. Beyond other considerations in the sporting event itself.
Home rental insurance
One of the doubts that users who are going to rent an apartment to rent is whether they are obliged to sign an insurance policy. rental. Well, in this case it is not mandatory despite the general belief. However, its formalization is highly advisable because it constitutes an effective strategy to protect and preserve its properties. For example, computer equipment, technological devices and even if the case were the clothing or furniture itself. Not surprisingly, these properties are not covered by homeowners insurance in any respect.
On the other hand, from the other party, that is, the owner of the real estate property, must also complete a product of these requirements. Like you can accept other insurance payment protection and with which you will be covered before certain processes in the lack of collection of the monthly payments. Of course, it is not mandatory, but totally desirable because it provides a lot of security to your ownership.
As we have said before, when it comes to real estate, the only thing that is required by law is fire insurance. The rest are optional and depend on the will of the users themselves. Even at the time of signing the mortgage loan, although the banks incorporate some policies for processing. It can be a strategy to lower the final cost of financing.