Liability Insurance for Property Owners

What is it?
‍The liability insurance for property owners (Haus- und Grundbesitzerhaftpflicht) covers damages that directly arise from your property. It covers the costs of third parties (damaged property of others, costs that arise from injuries of others as well as resulting financial damages due to the above.)

Claims & damages mainly arise from maintenance deficiencies and can either affect the person living inside of the apartment, the building itself or neighbouring apartments.

How much does it cost?
For this insurance, we work with an insurance called Haftplichtkasse. For a single apartment we recommend a coverage sum of 5 Mio at annual costs of 56,53 EUR. The communication is paper free and the insurance carrier offers digital communication.

The contract runs for 12 months, automatically re-news itself for another year if not cancelled three months prior to the renewal date and is paid annually.

Examples of coverage

You have ceiling panels in your apartment. One of the panels falls on your tenant's head and injures him. He cannot go to work for two months and wants compensation payment due to loss of income.
One of your Handwerker causes a damage in the apartment as well as the neighbouring apartment. If he was employed by contract, your liability insurance will make an advance payment to cover the third-party damage. The damage in your apartment will need to be paid by the Handwerker to you.
This insurance comes with a so-called "Bauherrenhaftpflicht" i.e. coverage of liability risks resulting from renovation work up to a coverage sum of 200.000 EUR. The coverage also extends to subcontractors that are employed such as administration, cleaning services, etc.

‍This insurance also supports you should there be a claim against you: It will check whether the claim is justified - if it's not, the insurance will defend you, if it is it will pay for you. Often cases, this insurance defends you against the building insurance as many issues arise from the building itself and not single apartments.

What is not covered?

Damages caused to your apartment: If a damage arises from your apartment, this insurance only covers the costs of the third party damages. Damages that were caused in your apartment are not covered and you will need to pay the repair costs yourself.
Damages caused through the tenant: If the tenant causes damages to your apartment, the building, neighbouring apartments, he will need to pay for the damages as he's liable.
Wear & tear as well as maintenance costs: Damages that occur over time or repair costs & renovation costs cannot be insured. They fall under maintenance duty and are considered your responsibility as a property owner. This includes, for example, water damages of neighbouring apartments that are caused through leaky silicon sealings of bathtubs or showers.
Damages you personally cover in the apartment: If you as the owner personally cause a damage (for example you drill a hole and destroy a water pipe, causing a flood), you are personally liable. This can only be covered through a private liability insurance, which you cannot have when not living in Germany.

We're here to help you find the right coverage
‍Choosing the right liability insurance for your property doesn't have to be complicated. We're here to guide you through the process and help you find the perfect insurance plan tailored to your specific needs. Whether you own a single apartment or multiple properties, we'll take the time to understand your situation and recommend the coverage that gives you peace of mind.

Contact our insurance expert!

Danielle Lahav

Email: danielle.lahav@versicherungsbuero-weiss.com
Telefon: +49 30-40 36 31 95 6
Book a free consultation: https://calendly.com/danielle-lahav/30min

Liability Insurance for Property Owners

Contact our insurance expert!

Versicherungsbüro Weiss