Which insurance should I take out when buying a house?
February 27, 2024 | 40,00 EUR | answered by Ingo Gallenberg
Dear insurance lawyer,
I am planning to buy a house in the near future and would like to get comprehensive information about the different insurance options available. Currently, I am uncertain about which insurances are necessary for the optimal protection of my new home.
The situation is as follows: After much consideration, I have decided to purchase a house to live in my own home in the long term. Since buying a house is a significant financial investment, I want to ensure that my new home is adequately insured to cover potential risks and damages.
At present, I have already looked into a household insurance that covers damages from burglary, fire, or water damage. However, I am unsure if this insurance covers all relevant risks or if I need additional insurances such as a building insurance. I am also wondering if a liability insurance would be useful to protect me from potential claims for damages from third parties.
My concerns mainly revolve around not having sufficient information about the different insurance options and potentially overlooking important aspects that could lead to financial difficulties in the event of a claim. Additionally, I want to avoid taking out unnecessary insurances that exceed my financial means.
Therefore, my question to you is: Which insurances should I take out when buying a house to ensure comprehensive protection and cover potential risks as best as possible? Are there any specific insurances that I should definitely consider to optimally secure my new home?
Thank you in advance for your professional advice and support.
Kind regards,
Wilhelm Lehmann
Dear Mr. Lehmann,
Thank you for your inquiry regarding the optimal insurance options for protecting your new home. It is understandable that you would like to learn about the different types of insurance to ensure that your new home is adequately secured.
First of all, it is good to hear that you have already considered a household insurance. This insurance typically covers damages to your personal belongings such as furniture, electrical appliances, and clothing caused by burglary, fire, or water damage. It is important to accurately assess the value of your household belongings to ensure that you are sufficiently insured.
In addition to household insurance, another important insurance you should consider is building insurance. This insurance covers damages to the building itself, for example caused by fire, storms, hail, or water leaks. Since buying a house is a significant financial investment, it is important to adequately secure the building to avoid financial losses in case of damage.
I also recommend taking out liability insurance. This insurance protects you against third-party liability claims that could arise from a careless moment on your part. Liability insurance gives you security and protects you from potential financial risks.
In addition to these insurances, you may consider other insurances depending on your needs, such as natural disaster insurance (for protection against natural disasters like floods or earthquakes), glass insurance (for damages to windows or glass blocks), or construction liability insurance (for damages that occur during construction work on the house).
It is important to seek individual advice and choose the insurances that best fit your needs and budget. I am happy to assist you with any further questions and help you select the optimal insurance solutions for your new home.
Kind regards,
Ingo Gallenberg
Insurance lawyer
