Homeowner's insurance

20 posts in this topic

Hello,

I just discovered that my boyfriend and I have no homeowner's insurance. I'd like to know if anyone has any tips for a good insurance company, what they cover, and how expensive it is.

 

I'd appreciate any information.

 

Thanks,

Moi

 

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I have insurance for the contents of my apartment and "Haftpflichtversicherung" aka liability insurance. It's with Gering; it costs me around €80 a year for the two. I think the contents are insured to 25 or 50 thousand, the liability to a couple of million. I'd have to dig it out to get the exact figures. Cheap for what they offer.

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What about damages to the apartment like fire, flood, or robbery? Are those things covered?

 

I have a personal Haftpflichtversicherung- do you need another one for your house?

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As the apartment doesn't belong to me, I don't have that insured. Sorry, can't help you there.

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Hi MoiLV,

do you rent or own?

 

Usually the OWNER has the insurance and responsibility for the building itself. Also for any fittings included as part of a rental.

 

If you only rent, then you really should follow Showem's advice.

 

The liability insurance that you would have, would cover your responsibility for any damage to the building or fittings that are a direct cause of your action(s) only.

Anything else, like storms, floods ... would be the resonsibility of the owner, not the tenant.

 

MT

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My boyfriend owns the apartment, that's why I'm looking for information about homeowner's insurance, not renter's insurance. ;)

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I don't own, I only rent, but I have my contents insurance and extra liability insurance with Generali through a local insurance broker and have always been very happy with them. But then I haven't had to claim yet!

 

I have car insurance with HDI and I am also extremely happy with their service.

MT

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Can anyone else recommend a Hausratversicherung? Up to how much $$ would you normally want to insure your place?

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Easy. If you have a €1million worth of belongings insure for €1million. If you have €5,000 worth insure for €5,000

Next question?

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Thank you Yorkshire Lad, I am actually not as daft as you may think. I realize that you insure your belongings, but you would also insure up to a certain amount of the valued price of the apartment, no?

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What exactly do you want to insure? Hausratversicherung is a contents insurance, so yes, the value of your belongings is right. However, things like parquet flooring are not part of the building, so they are also covered by it too, subject to careful checking of the policy.

 

I own my flat and have Hausrat and Haftpflicht. My Hausrat is with HDI, but my broker told me the other day that I'm paying too much for it. I don't know whether that's a reflection on that company, or just my policy. Either way, I'm going to let him handle it.

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I want to insure against fire, water or weather damage to the apartment as well as damage to/robbery of our belongings within the apartment.. Do they usually do the Haftpflicht and Hausrat together? Because I already have a Haftpflichtversicherung.

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The HAUSRATSVERSICHERUNG is usually computed by a value per squaremeter of the rented apartment/house. You should compute your insurance need with 650 EUR per squaremeter, if you insure an amount below this threshold, you are usually considered to be under-insured. This means, in case of a loss of property through fire, water, theft or vandalism (to name the most obvious reasons), the payment of the loss will be reduced in percentage correlating to the percentage of under-insuring.

 

Example: your flat is 100 sqm and you insured property worth 50.000.- You should have insured however 65.000.- worth of property. You are under-insured by some 24 %. If your beloved flatscreen TV is stolen and was worth 2.000.- EUR, the insurance would only refund you EUR 1.520.- .

 

While the Huasratversicherung insures you against a lot of damages and loss, it does not cover damages your belongings do to others. For instance a broken hose from laundry machine or dishwasher machine with water seeping throught the floor to the next tennant and causing damages: while his belonging could be convered, if he has his own Hausratversicherung, you are liable for all damages caused by your belongings. Thats one of the reasons you should have both, Hausrat and Haftpflichtversicherung when you rent a place.

 

Good ones for average appartements are available for 60-80 EUR per year for Hausrat and another 60-100 EUR per year for Haftpflicht(Liability).

 

Hope that helps you with your decision process.

 

Ceterum censeo: get yourself an independent insurance broker who helps you with the selection process.

I am a professional independent insurance broker, financial adviser, and authorised advertiser. Contact me.
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Thanks Starshollow.. that's good to know. I wasn't sure what sum of money you should insure up to, but now I know why the insurance company was suggesting a certain amount.

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Glad if I can be of help. Would be good for anyone to check his insurance papers (for instance if he moved since starting the insurance to a bigger place) if the insurance amount is in excess of size of rented sqm times 650. EUR or not. If it is below, make sure you increase the insurance to the required level or you'll have a bad surprise if anything happens.

I am a professional independent insurance broker, financial adviser, and authorised advertiser. Contact me.
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Great info, Starshollow.Would have written the same information as you about the square metre rule but had other things to do the last couple of days. One other point to make is about glass. Tenants should check whether this is already covered by the tenancy agreement with the landlord/lady taking responsibility.(eg.kids smash your front window..who pays?). Glass inside the flat is another matter.Someone I know accidently broke a glass tray in his fridge(which belongs to his landlord).He thought his Haftpflicht would pay. His insurance company said his Hausrat would pay.Unfortunately, his Haftpflicht didn´t had a "glass clause" and his Hausrat didn´t either!Get independent advice!

I am a professional independent insurance broker and authorised advertiser. Contact me.
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Is it possible here to get Hausrat insurance that includes accidental damage to things (for example if your child uses you new plasma tv for target practice with their toys), or that covers things like jewelry against theft/loss outside the home, as you can in the UK? From what I've been able to find and understand it only seems to cover things in the home, and then only against fire/flood/burglary (or damage caused during a break in).

 

Thanks.

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Hausrat is available with some add-ons where you can get things insured for instance against theft from a hotel room, hospital room or out of your car (within limits and provided some safety rules have been followed). As for the damage to the plasma TV, if your little doll uses someone else's TV, this would be covered with a private (or third party) liabilty insurance which you should have anyway. If she destroys your own property, I am not sure how this could be insured with either insurance. You could swap claims with close friends though who have a private liabilty insurance and state it was them or their child (but you ave of course never heard that from me).

If you need more details, then it becomes more a business inquiry instead of a chat and you would have to PM me or click the link below.

 

Cheerio

I am a professional independent insurance broker, financial adviser, and authorised advertiser. Contact me.
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Sorry to dig up a relatively old thread but this topic is still an 'essential' one and once again I'm trying to wrap my head around German ways with Hausrat insurance:

 

I posted earlier in the thread that all was OK, but that was when I was living alone in an apartment and just did as recommended without fully understanding.

Usually my (German) wife now deals with insurances but as I said I'm trying to wrap my head around the topic to get a new and more relevant (for us) Hausrat insurance.

 

The information I have so far is that as posted above the cost will depend upon sq. metres of where you live. Apparently this SqM calculation also dictates any payout should one be necessary.

This is what I find totally strange; I want to insure to the value of actual posessions, not the value that some insurance company thinks I should have, dependent upon the size of the place where we live.

I'm speaking with an independent broker about a new / different policy but want to ensure that the insured value is actually enough for what we have, not what someone thinks we should have.

If you can understand that?

 

A second problem is that I also want to insure some items specifically. Meaning that should I have them with me away from the house or car and something happens to them I want to be able to replace them.

He tells me this would come under a separate "electrical goods" policy and would be extortionately expensive in comparison, for example €350-€400 per year to cover camera equipment that would cost around €3K-€4K to replace (new).

 

Even though I've been here in DE for 16 years I still sometimes think in UK-terms where I know of (or knew of) house contents policies that also covered (named) items which you took out of the house with you occasionally.

Any further help appreciated,

Malty

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