Building insurance
Building insurance protects homeowners
For most owners, your own house is the biggest edition of their lives. Dangers such as fire, tap water or storms can cause immense damage or even a total damage.
A residential building insurance is essential for homeowners. The household council is not insured. This should be covered by a separate household insurance. The components of fire insurance and tap water insurance should always be included.
-The basics A violent storm covers the roof, a pipe break sets the house under water, a fire destroys parts of the building - in all these cases protect yourself with a residential building insurance. In addition to private liability insurance and household storage guards, it is indispensable for homeowners: after a fire, but also by water, storms or flooding, the damage can quickly push you to the limits of your financial resilience. In an emergency, you are only well protected if you have a residential building insurance in your policy folder.
-What is insured A residential building insurance system first protects your building itself, as well as the associated garages and other outbuildings such as carports, garden sheds or equipment sheds, which are designated in the insurance contract. All parts that are permanently connected to the building, such as fitted kitchens or cabinets, are insured. Building accessories are also insured The insurance cover usually also includes accessories, the residential purposes or maintenance of the residential building is used - for example, tools, firewood, awnings, alarm systems, flower boxes or broadcast antennas. To what extent the garden, the swimming pool or the modern water treatment plant is insured depends on the respective insurance conditions and can sometimes even be negotiated with the insurer.
-Scope of services The house and its accessories are protected against fire, tap water damage such as pipe breaks, storms, lightning, hail and, depending on the scope of the contract, also against natural events such as floods, avalanches or earthquakes. Building insurance replaces damage until the agreed sum of insurance if a violent storm covers the roof, penetrates rain into the masonry due to a storm insurance, or a fire causes expensive disaster. Extra services depending on contract Depending on the contractual conditions, however, other services may be included in the insurance cover or be insured: the removal of graffiti, necessary clean-up and cancellation work after a claim, transport and storage costs, hotel costs for unattended spaces, rental defaults for rented rooms, return travel costs from holiday after serious insurance damages or expert fees. Some companies even replace expenses for the removal of pipe clogging. Which of these additional benefits are covered in the tariff conditions of the individual insurance companies is regulated.
-For whom suitable? Every homeowner should protect himself against the most important risks with building insurance. After a fire, but also due to pipe breaks, storms or hail, the damage can be so great that you quickly reaches the limits of its financial resilience as an owner. Banks are already demanding proof of fire insurance for real estate financing. Risks can also be insured individually Since building insurance is a "combined" insurance company, where premiums are calculated individually for any risk (fire, tap water, storm and hail, natural hazards, etc.), you can also insure each risk individually. By the way: when changing the ownership, the building insurance automatically transfers to the buyer, but it can be terminated by him within four weeks. As a buyer, you should not cancel an existing policy immediately, but only at the end of the year. The insurer is also entitled to the full annual fee with during the year's termination.
-Total insurance The sum insured in building insurance should correspond to the value of your property. If the sum insured is lower than the building value at the time of damage, there is under insurance. This can be fatal in the event of an emergency: if it turns out that you are under-insured, the insurer can cut the compensation. Then only a part is replaced in the event of a fire or storm damage. If the insured sum is 150,000 euros with a total value of the building of 300,000 euros, it is under-insured with 50 percent. If there is a damage of 30,000 euros, the insurer replaces only half, i.e. 15,000 euros. Sliding real value insurance protects against underkeeping However, you can agree with your insurer for a so-called lower insurance fee: in this case, damages will always be compensated up to the full sum insured. The prerequisite for the renunciation of undersurfages is usually that a gliding new value insurance is agreed, through which contributions and insurance cover are regularly adjusted to the increased value of your property. Recently, building insurance with sub-insurance fee has also been offered on the basis of the so-called living space model. Here, the house is classified according to type and equipment, the premium is determined per square metre.
-Natural scarure insurance Regional conditional risk surcharges The basic cover of buildings insurance includes fire, tap water, lightning, storming, hail and explosion damage. Depending on the regional situation, your building may also be endangered by other risks - mainly due to natural events such as floods, storm surges, earthquakes, landslides, avalanches or snow pressure. Such natural “elementary damage” can be covered individually or in the package in building insurance. However, an additional charge is due, which can vary depending on the region and local risk situation.