What does a building insurance cover?
Building insurance, in German “Wohngebäudeversicherung”, is a crucial policy for any building owner. Originating from the concept of safeguarding one’s property from unpredictable events like fire, storms or water damage, it evolved into a comprehensive protection plan that often goes beyond these basic needs.
In Germany there are different types of building insurance policies to choose from, but they commonly cover at a minimum risk such as fire, water (from pipes) damages and hail & storm. The specifics can vary widely between insurance providers and the coverage can be extended with several add-ons.
Navigating the intricate landscape of building insurances can be overwhelming, considering there are many providers and options. Making an informed decision is vital for your financial well-being and peace of mind.
What does it cover and how much does it cover?
It’s important to understand the scope of your building insurance as it’s not regulated by the government, unlike some other types of insurance. Benefits can range from basic fire and water damage coverage to more elaborate plans that cover accidental damage or even loss of rental income.
Typical Features:
Additionally, the more premium you go – the more benefits different policies offer, including things such as emergency repairs, reimbursement of hotel costs in case the building is uninhabitable and much more
Who is it for?
Building insurance is essential for any building owner in Germany, whether you own a single-family home, an apartment building, or commercial real estate. Factors like the building’s age, (living) space, location, construction material and coverage influence the costs and type of insurance suitable for you.
Julia Masannek
Email: julia.masannek@versicherungsbuero-weiss.com
Telefon: +49 30-40 36 31 95 8
