As the owner of a house or apartment, you can take out residential building insurance. Since your own property is probably the biggest investment in life for you, as for many people, there is also a lot of capital in it. With real estate insurance, you protect yourself against the financial consequences of fire, tap water and storms and thus protect your investment.
You are on the safe side with our real estate insurance, if your house is damaged, for example by water damage, a severe storm or a fire. It makes sense for every homeowner, because without building insurance, particularly large assets are at risk and, in the worst case, your existence is threatened. Discover the advantages of real estate insurance and find your individual insurance cover at www.sunnysidetitle.com.
What is insured?
Residential building insurance pays for damage to the building and fixed inventory. This includes, heating systems, but also the fitted kitchen, the permanently laid floor and the built-in bathtub. If, on the other hand, furniture is damaged, this is a case for household insurance.
The associated residential building insurance consists of fire, tap water and storm insurance. In addition, you can add additional modules, for example for natural hazards.
Fire insurance component
Fire insurance pays for damage to the house caused by fire, lightning, explosion or implosion. It also works with permanently installed electrical installations, such as the power supply for lamps and sockets.
Attention: a smoke detector is mandatory. According to the building regulations of most federal states, you have to install smoke detectors in bedrooms, children’s rooms and hallways. If the smoke alarms are missing, you can remain seated on part of the costs in the event of an insurance claim.
Tap water insurance component
The tap water insurance covers damage caused by tap water and frost as well as other breakages. So if calcareous water or frost causes the pipes in the house to burst, the insurance will take effect.
Storm insurance component
The insurance pays for storm damage from wind force 8 and hail damage. For example, when the roof is covered and needs to be repaired. It also pays for consequential damage, for example if it rains through a roof covered by a storm.
Special case: insurance against natural hazards
Standard tariffs in residential building insurance usually do not apply to natural hazards. This means that the insurance will not cover the consequences if your building is damaged by floods, earthquakes, landslides, avalanches or heavy rain.
If your building is in a risk area for floods, earthquakes, landslides or avalanches – for example on the water or on a slope – it makes sense to take out insurance against natural hazards. However, precisely then it can be difficult to get protection against natural hazards. It’s not impossible, just expensive. Because whether and under what conditions a residential building insurer offers you protection is decided on a case-by-case basis.
As a rule, if you are at high risk, you will also pay a high premium or a very high deductible. The insurance company may even ask you to convert your building so that you can get insurance coverage. If you live in an area with high risk, you should seek advice.
