Are you looking for home or house insurance? Find out how the policy works and what you need to remember when buying so that your assets are 100% secure.
Having your own four corners is everyone’s dream, often only with the help of credit. Because fulfilled desires are worth cultivating, do not let bad luck ruin your hard work and decide to insure your home or flat. We advise on the scope to choose, what the sum of insurance depends on, what supplements the insurers offer and how to protect yourself against loss of compensation.
What does home and flat insurance involve?
Home and home insurance is not compulsory, but many owners are opting for such a solution. Scenarios in which something may threaten your property are too many to treat the matter with indulgence. Statistics alone regarding the annual number of fires are alarming (in 2014, the fire brigade reported 22 628 fires in residential buildings), and the apartment can be affected by other random events as well as burglary or vandalism.
Fear of what can digest our property at a rapid pace is not unfounded and people are happy to buy flat insurance against random events. The housing policy will protect your four corners from all the risks that you will have during a restless night, and will also allow you to choose supplements such as assistance, accident insurance, legal protection, civil liability in private life, and even summer house insurance.
Home insurance – Scope.
The subject of insurance is real estate, i.e. a residential building (as well as an outbuilding, garage and other permanent elements of the plot, which will be indicated by the insured) and household movables, i.e. home furnishings, e.g. household appliances, clothing and personal items, tourist equipment e.t.c.
- Random events
The basic scope of housing insurance includes primarily random events caused by four elements: fire, water, air and earth. These are sudden, unforeseen accidents, which the insured has no influence on, most often caused by the destructive effects of weather phenomena. Random events covered by home insurance include, among others fire, lightning, hurricane, earthquake, landslide, flooding, frost cracking of building’s internal installations and flooding. In addition, the property can be insured against overvoltage, vandalism or impact of a motor vehicle. This option is usually available after paying a higher premium, in extended policy options.
- Burglary and robbery
As part of the property insurance against theft with burglary and robbery, just like in the case of random events, protection can cover both permanent building components and home movable property, as well as small everyday items from robbery outside the place of insurance. Remember that the insurer defines the minimum anti-burglar security that you should have to conclude the contract and receive compensation in the event of theft.
- Civil liability in private life
It will be useful first of all when you flood your neighbour’s apartment. The insurer will cover losses caused by your fault, for example, due to neglect of plumbing equipment. You can also count on the fact that the OC policy will work if a four-legged member of your family does damage (provided that it is a pet and it is not an aggressive dog).
You don’t have to do a specialist on your own. The insurer will send you a handyman who will take care of minor hydraulic failures, broken glass or electric short-circuit, and will repair the washing machine or recover data from a damaged computer disk. And if you have to deal with serious failures that will temporarily prevent you from functioning in the insured apartment, you will be able to count on accommodation from the assistance policy – a substitute apartment or hotel.
- Legal protection, accident insurance, house under construction, summer house
The range of housing policy is tailored to your needs. You can ensure you and your family’s health and life, secure your finances in case you need to defend or assert your rights in court. You can also insure property under construction, a house that is just about to become your family nest – from random events, theft and civil liability. At the insured’s special request, not only a residential house but also permanent elements and movable property of a summer house will be covered. Make sure that everything that is valuable to you is taken into account when concluding insurance, but remember that each additional subscription involves a higher premium.
Without a review or move – exclusion of liability in housing insurance.
The list of liability exclusions contained in the GTC of the housing policy is quite long. In addition to the standard situations common to all insurance in which protection does not work, such as willful damage, insurers also specify exclusions of liability for each subsequent element of the policy. In the case of insurance of property against fortuitous events and burglary, they will include
- flooding due to leaks in the walls, roof, door or window
- rupture of frozen pipes if the room was not maintained at the appropriate temperature
- burglary if the insured flat did not meet the burglary requirements
- design or workmanship errors
- the damage arose in connection with the neglect of periodic technical inspections
Compulsory technical inspections of, for example, a chimney flue are extremely important, not only for the safety of residents. Staring in this matter may be a premise for refusal to pay compensation by the insurer. All consequences of damage caused by neglecting the maintenance of building or apartment components rest with its owner. Remember to read the general insurance conditions carefully before signing.
Before you take out your wallet – how to prepare for buying housing insurance?
First of all – compare offers. Without a good understanding of the housing insurance market, it’s easy to cut into unfavourable conditions. Your home policy may be limited to the basic scope, but you can also choose from a variety of extras.
Before talking to an agent, you should consider answering the following questions:
- What do you want to insure and what scope of protection are you interested in?
- What insurance amount are you interested in? What compensation option do you intend to use (replacement value or actual value)? Are you going to use your own contribution option?
- What does your home insurance history look like? Has there been any damage in the last three years? What?
- Do you already have a housing insurance policy with another insurer?
- Does your home have anti-theft devices? What is its flammability class?
Some of these questions are intended to select the policy best suited to your needs, some concern the formal requirements of the insurer. Although you do not have to be a specialist in housing insurance, before talking to an agent, you should familiarize yourself with sample offers and the necessary terminology.