Your own property is not just a home, but also a significant asset. This makes it all the more important to have solid insurance cover - not too much, not too little, but appropriate to the property and its use. Owners should regularly check whether their policies are still up to date - especially when renovating, renting out or using the property as a vacation home. If you know the most important insurance policies, you can act with foresight and protect yourself against financial risks.
The most important basic safeguards
Homeowners' insurance is essential - it protects against damage caused by fire, mains water, storms and hail. Depending on the region or the condition of the building, it may be advisable to add natural hazards insurance - e.g. in the event of heavy rain or backwater. Homeowners' and landowners' liability insurance is also part of the basic package: it protects against third-party claims, for example in the event of slippery paths or falling roof tiles.
When usage changes
If the property is (partially) rented out or used as a vacation home, the requirements change. Some policies only cover letting to a limited extent - a change of tariff may be advisable here. The insurer should also be informed in the event of conversions or energy-related renovations. After all, if you fail to report structural changes, you risk losing your insurance cover in the event of a claim. For rented properties, loss of rent insurance is also conceivable - especially in the case of long-term financing.
Regular testing saves costs and hassle
Insurance policies should be reviewed every few years and adjusted to the current situation. New tariffs often offer better benefits - with the same or even lower premiums. A comparison is worthwhile. Owners who know what they need - and what they don't need - save money in the long term and protect their property in the best possible way.
Conclusion
Adapted insurance cover is essential for property owners. If you check regularly, choose wisely and report changes, you not only protect your property - but also yourself from financial surprises.
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