As of: February 18, 2024, 9:35 p.m
By: Robert Wallenhauer
Comments
Press
Split
Homeowners insurance is important for homeowners.
Which tariffs are doing well this year - and what you should pay attention to when it comes to policies.
Berlin – It is a must for homeowners: building insurance.
Because fire, water and storms can develop destructive power and lead to financial ruin.
A good policy seems all the more important.
When it comes to protection, it's the details that matter.
However, the insurers' offers sometimes differ greatly, says Michael Franke from the rating agency Franke and Bornberg to the
Handelsblatt
.
The business newspaper analyzed several offers with the rating agency and published a list of the best insurance companies.
This year, the tariff “Single-family home concept - comfort protection” from the insurer Domcura took first place in the ranking.
The policy covers damages of up to 10,000 euros caused by malicious acts or vandalism by third parties, writes
Handelsblatt
.
The provider also covers the costs of clean-up or demolition work in the event of damage of up to one million euros.
Burning house: How to find the right homeowners insurance as a homeowner.
© Wolfgang Künstle/dpa
The “classic” policy from Alte Leipziger Versicherung also does well in the ranking.
“With this service, we offer our insured persons the opportunity to carry out the reconstruction elsewhere in Germany without having to make any financial compromises,” says Kai Waldmann, board member at Alte Leipziger Versicherung, to the
Handelsblatt
.
Residential building insurance: Fire, tap water, storms and natural hazards should be insured
The magazine
Finanztest
has published tips on what to generally pay attention to when it comes to home insurance.
The magazine advises property owners to take into account all four service packages of home building insurance, i.e. fire, tap water, storms and natural hazards, in their policy.
The tariff chosen should definitely cover gross negligence, demolition and clean-up costs, transport and storage costs, construction requirements, decontamination and overvoltage.
In
Finanztest
rankings, tariffs get plus points if they also cover hotel costs, costs for experts or collisions with vehicles.
Many contracts are concluded once when building or purchasing a property and are never looked at again.
According to Finanztest
, this can
be fatal.
In the meantime, a carport, a sauna, a winter garden or a loft conversion, for example, could have significantly increased the value of the property.
The current insurance coverage may then no longer be sufficient.
My news
Well-known luxury company is insolvent: branches in Germany affected after bankruptcy read
Pension increase in summer 2024: Heil gives the first forecast for pensioners
Fusion of SUV and fighter jet: Daring model name for new Renault SUVread
In the case of Rosneft expropriation: Putin could demand compensation – at the expense of German state money
Germany facing double recession: DIHK fears biggest economic crisis in 20 yearsread
This is how much less pension statutory insured pensioners will receive from March reading
Problems with home building insurance only become apparent after the damage occurs
In case of doubt, any gaps in coverage only become apparent after damage occurs.
The advice magazine therefore advises checking the protection from time to time.
If the tariff is outdated, those insured do not have to cancel immediately.
Often just asking the provider can provide a solution.
According to the magazine, if you still want to end the contract, you usually have to get the bank's consent if the house still serves as security for a loan - preferably in writing.
This confirmation should be enclosed with the cancellation.
But be careful: In principle, you should first sign a new contract before terminating the old one.
Because insurers do not have to accept an application.
Old buildings in particular are not always welcome.
Homeowners insurance: If you increase your deductible, you can save
If you want to save on premiums, you can, for example, think about increasing your deductible.
In an example case from
Finanztest
, anyone who covers damages of up to 1000 euros themselves was able to save 189 euros last year.
In any case, when it comes to minor damage, you should always consider whether it would be better to pay for it yourself.
After the damage has been settled, the insurer can generally terminate the contract.
And that doesn't happen rarely.
Finding a new insurer quickly can be nerve-wracking.
If you would like to check what risks your property is exposed to where you live, you can use the online natural hazard check from the German Insurance Association.
Anyone who enters their zip code will receive information about the damage that storms have caused in the region in the past, how many buildings were affected and how much of the most expensive damage was.
(row with dpa)