If you own an entire building, a building insurance is essential. With this insurance, you cover the very substance of your property against the big risks such as fire or water damages, storm or hail. This insurance safeguards from significant financial losses by covering the costs of repairs or rebuilding, ensuring the long-term protection of your investment.
While your building insurance covers the fixed aspects of your home such as walls, roof, doors, windows and bathrooms, the household insurance reimburses you for the loss, damages or destruction of movable items. This insurance protects against a number of risks such as fire, water damage, burglary and is highly recommended to secure your personable belongings.
As a property owner you are required by law to maintain your property. This insurance protects you in your function and your duties as an owner of apartments and houses and covers the damage caused to third parties through your property. Claims usually arise from maintenance deficiencies or structural defects of the property.
If you rent out an apartment, there are a number of insurances that are highly recommended to secure your assets. Depending on the use of the apartment, these recommendations differ.
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