GETTING STARTED
Three points to consider
- Prepare the risk’s characteristics, use and location.
- Confirm assets, sums insured and valuation criteria.
- Clarify additional covers, excesses and exclusions.
What do you want to protect at the risk location?
Identify the property or assets, use and location. Buildings, contents and equipment should be assessed separately.
Construction, occupancy and activities carried out may affect assessment. If the property is vacant, undergoing works or rented, this must be declared.
Choose the sum insured using an appropriate basis
Assess the buildings sum insured with regard to rebuilding cost and the insured interest, rather than automatically equating it with the property’s sale price. For contents, prepare a list of belongings and values.
Confirm how the policy treats underinsurance, updates and damage valuation. Compare the premium alongside sums insured and terms.
Fire cover or a multi-risk arrangement?
Fire cover responds to a set of risks defined in the policy. Multi-risk insurance may combine further benefits, such as specified water damage, under their own terms.
Compare the specific need, covers and excesses. For a condominium building, clarify existing protection and how individual units and common areas fit together.
A question to clarify before deciding
Which fire-related damage is included, and which risks require additional covers?
The product examples mentioned in the frequently asked questions illustrate possible differences. They are not an offer from RMACHADO and do not show that a particular cover is included in your policy. Availability, acceptance and terms must be confirmed in the specific quotation.
What to compare in a quotation
Use these questions to clarify differences that could affect your decision.
| Comparison point | Question to clarify |
|---|---|
| Assets | Are buildings, contents and equipment identified? |
| Sum insured (€) | Is the valuation basis appropriate? |
| Scope | What covers are available beyond fire? |
Frequently asked questions
Is sale value the same as the rebuilding sum insured?
They are different concepts. Setting the sum insured should reflect the asset and the policy’s applicable valuation basis.
Does the condominium’s insurance protect all my contents?
Do not assume inclusion. Read the condominium policy’s scope and check the belongings in your unit separately.
Does damage caused while fighting the fire matter too?
Lusitania’s information includes damage directly linked to firefighting measures. Confirm the policy scope.
Should smoke and heat damage be assessed?
Lusitania’s information includes smoke and heat damage directly resulting from the fire. Check the terms.
Does fire cover automatically include flooding?
Lusitania’s information lists flooding among additional covers. Confirm that the specific cover has been taken out.
THE NEXT STEP
A review starts with your details.
Prepare the request, check the summary and submit it when correct. A record is created only after final submission; the request does not activate insurance.
Prepare a quotation request ↗Further information
Consult institutional sources and reference documents. Insurer pages illustrate specific products; their terms are not necessarily included in any quotation presented by RMACHADO GROUP. Some linked sources are in Portuguese.
General information from RMACHADO GROUP. Examples are illustrative and do not guarantee cover, price or outcome. Terms, acceptance and cover depend on the quotation and policy. The intermediary does not underwrite the risks.