Occident updates its offer to insure prefabricated houses, modular houses and caravans

"The insurer has renewed its value proposition for these types of installations, including extensive guarantees against climate risks and exclusive home and DIY assistance services."

In recent years, the real estate sector has seen a large growth in prefabricated houses and static modular homes, which have gained ground in response to new housing preferences and other challenges facing the sector, such as the ageing of the housing stock and rising housing prices.

Aware of this, Occident's Home division has updated its value proposition for prefabricated houses (made of wood, concrete, steel or sandwich panels), modular homes and caravans with a wide range of exclusive coverage and services. The insurer aims to offer a tailor-made product for its insured parties who opt for these types of constructions, whether as a primary home or a secondary residence.

In the case of prefabricated houses, Occident's offer in its Home insurance is similar to that of terraced or detached homes, with a wide range of coverage options to guarantee the protection of the property against all types of damage. For example, the policy protects the property against fire, explosion or lightning; as well as damage caused by water (breakage of pipes, leaks and flooding) or by weather events such as rain, wind, hail or snow. The policy also covers breakdown of electrical and electronic equipment and installations; robbery, theft and robbery with assault; or acts of vandalism, among other coverage options. It should also be noted that by taking out this product, the insured party can opt for the full range of the insurer's Home services, from the repair of boilers or computer assistance to the BricoHogar service and home assistance.

In addition, Occident has a specific insurance policy for static caravans and modular homes with coverage specifically designed to deal with the risks to which these installations are exposed. As well as offering usual coverage such as those covering fire, atmospheric damage (which accounts for 45% of losses in modular houses and 60% in caravans) and water damage; policyholders can also take out security against theft, changing of locks due to theft or robbery, theft of contents, breakages, or damage to the toilet or kitchen fittings due to adverse weather events. Similarly, coverage for theft of bicycles has been improved, extending the capital to €750, and a new civil liability coverage specific to the caravan or modular house has been created.

According to Antonio Tejero, Director of Private Insurance at Occident, “the update of our insurance for prefabricated and static modular homes represents another step forward in our value proposition for this type of house. In addition to the coverage to be chosen according to the needs of each customer, the protection is expanded with a series of exclusive services of great value for our policyholders, such as Home Assistance and BricoHogar, which are in great demand”.

Commitment to the Home division

Through a wide range of policies and categories, Occident offers home protection to its customers to cover all types of homes and situations. In this regard, last year the insurer launched new policies such as Home Exclusive, designed to protect premium quality flats and single-family homes, Home tourist rental use, an insurance policy created to protect lessors with exclusive coverage; and it updated Lessor Home, its rental home insurance for non-tourist rental homes. It also has its professional Home product, which is aimed at self-employed workers and professionals working from its home, among other categories.