Home insurance

Home insurance covers damages to residents and personal property according to the sum they have been insured for.

Many residents do not take out an insurance policy because they assume that the property owner's property insurance would also cover their personal property and personal injuries in case an accident occurs (e.g. fire). However, this is not the case.

The property owner's insurance policy only covers damages to the property structures. Each household requires separate home insurance for the flat itself and its residents.

It is also worth remembering that home insurance should include exemption from liability to cover damages caused by neighbours. If your neighbour causes water damage that extends to your flat and damages your personal property, you will not be compensated if your neighbour or you yourself do not have the necessary home insurance.

With extended home insurance, you can correspondingly compensate for damage that you may cause to your neighbours or the property owner.

More information is available through insurance companies. You should compare insurance companies because their prices and terms differ.