What is the difference between household contents insurance and building insurance?
January 14, 2022 | 30,00 EUR | answered by Ingo Gallenberg
Dear Insurance Lawyer,
My name is Yvonne Ahlert and I have a question regarding the differences between a household insurance and a building insurance. I am in the process of obtaining a new insurance and I am unsure which type of insurance is the right choice for me.
Here is my current situation: I own a house in which I live, and of course it is also furnished with my personal belongings. In the past, I have already taken out a building insurance to protect my house against damages from fire, storm or water leaks. Now I am wondering if I also need a household insurance to protect my belongings.
My concerns are that I am not sure what kind of protection each of the insurance types offer and if one of the insurances makes the other unnecessary. I want to make sure that in case of damage, I am optimally covered and do not have to suffer any financial losses.
Therefore, my question is: What are the main differences between a household insurance and a building insurance? Are there areas that are covered by both insurances or do I really have to choose one of them? What criteria should I consider when choosing my insurance to ensure that my personal protection needs are met optimally?
Thank you in advance for your support and advice.
Sincerely,
Yvonne Ahlert
Dear Mrs. Ahlert,
Thank you for your inquiry regarding the differences between a household insurance and a building insurance. It is understandable that you are unsure which insurance coverage is best suited to protect your house and personal belongings optimally.
Let's start with the basic differences between a household insurance and a building insurance. The building insurance covers damages to the structure of your house caused by fire, storm, water damage, hail, lightning, explosion, or burglary. This typically includes the building itself, as well as fixtures such as floors, ceilings, walls, windows, and doors. On the other hand, household insurance protects your movable property in your house, such as furniture, appliances, clothing, jewelry, artwork, and other personal items, from damages caused by theft, burglary, vandalism, fire, water, or storm.
It is important to note that the building insurance covers the protection of the structure and fixed installations, while household insurance ensures the protection of your personal belongings. In many cases, these two types of insurance complement each other and together provide comprehensive protection for your home. Therefore, it is advisable to take out both building and household insurance to ensure that both your building and inventory are covered.
When choosing your insurance, you should consider various criteria to meet your personal protection needs optimally. These include the location and condition of your house, the value of your household contents, potential risks in your region, as well as individual needs and preferences. It is recommended to compare the services and conditions of various insurance providers to find the offer that suits you best.
I hope that this information was helpful to you and I am happy to assist you with any further questions. Please do not hesitate to contact me if you need further support.
Best regards,
Ingo Gallenberg
Insurance Lawyer
