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Get your home insured through Frank Salt Real Estate

WHY IS IT IMPORTANT TO HAVE HOME INSURANCE?

Your home is by far the most valuable investment you own and you are likely to have spent years saving for it. Without insurance, it is highly improbable that you would afford to repair any damage that could occur following a fire, storm or theft – which is why Home Insurance is so important. Banks also require a home insurance when you are taking out a loan covering the cost of rebuilding the property you are buying as new.

Home Insurance gives you peace of mind knowing that should the worst happen, you can recover the costs and expenses incurred following a loss.

WHAT ARE THE TYPES OF HOME INSURANCE?

Home Insurance is available for Buildings and/or Contents. The policy covers your Buildings and Contents against loss or damage which can occur from multiple different circumstances (for full list visit www.gasanmamo.com).

The policy also includes cover for your liability to third parties as owner of your Buildings and as occupier and tenant, if you insure your Contents. You can also upgrade cover to accidental damage for your Buildings and/or Contents, all risks cover for personal possessions, personal accident cover and a home worker extension (available if you conduct a small business or profession from your home).

BUILDING INSURANCE

The Buildings section covers the actual structure of your house including all fixtures and fittings, interior decorations, aerials and masts, satellite dishes, solar water heaters, photovoltaic systems, water storage tanks, alarms and other security systems, air-conditioning equipment, outbuildings, garages, greenhouses, swimming pools, terraces, patios, driveways, walls, gates, hedges and fences and your share of common areas and passenger lift. The value to be insured is the cost of rebuilding the home as new and not its current market value if it is put up for sale.

CONTENT INSURANCE

The Contents section includes cover for all the items in your home such as furniture, furnishings, carpets, floor coverings, household appliances and equipment, linen, cooking utensils and provisions, collections, toys, garage equipment, garden equipment, radios, electronics, frozen foods and provisions, sports equipment, pedal cycles, furs, jewellery, watches, cameras and other valuables. The basis of cover under this section is on a New for Old basis and the sum insured must therefore represent the cost of replacing all the contents of your household as new.

WHEN DO I NEED TO GET HOMEOWNERS INSURANCE?

It is recommended that you start looking into home insurance cover as soon as you sign the promise of sale to buy a home. This gives you time to get your insurance policy in place, by the time you sign the final deed. The bank would normally also require a home insurance  policy before taking out a bank loan.

WHAT IF I RENT OUT THE PROPERTY?

If you are a landlord and the property is occupied by tenants, you would need to go for a Landlord Insurance. This is designed to protect the landlord’s buildings, contents, rent  default and legal liabilities in respect of accidents resulting in third party bodily injury and/or property damage.

DO I STILL NEED A HOME INSURANCE AFTER I PAY MY MORTGAGE?

Once you have made your last payment, your mortgage lender will no longer have any say in whether you carry insurance. But consider the fact that you have spent years investing in your home and building equity and should a loss occur, you will want to have the protection of insurance for that investment.

Your home insurance policy documents might not be the most gripping read, but it’s best to check your policy so that you know and understand what you are covered for, what is excluded, and also what your rights and responsibilities are.

OFFER FOR FIRST TIME BUYERS

GasanMamo Insurance is offering Frank Salt Real Estate first-time buyers a 50% discount on the first-year Home Loan Protect Insurance covering your buildings.

first time buyer offers frank salt
buy and sell through frank salt real estate offer 2020
OFFER FOR SECOND TIME BUYERS

GasanMamo Insurance is offering a 50% discount, through the Frank Salt Real Estate Buy-And-Sell Offer, towards your first-year Home Insurance covering your buildings.

HOW CAN FRANK SALT REAL ESTATE HELP?

Home insurance offers peace of mind on a day-to-day basis, allowing you to enjoy living in  our property without worry. Frank Salt Real Estate acts as an intermediary for GasanMamo insurance, one of Malta’s leading insurance companies.

We offer both buildings and contents insurance, as well as landlords’ insurance. For a quotation our property consultants can guide you to the right contact or get in touch directly with us.

For more information send us an email to [email protected] or call +356 2379 4131 

Frank Salt (Real Estate) Ltd. (Enrolment No. C31667) is authorised under the Insurance Distribution Act to carry out Tied Insurance Intermediary activities for GasanMamo Insurance Ltd. as authorised under the Insurance Business Act. Both are regulated by the MFSA.