Protect your home – but do it right

Which insurance should you have and when?

At the word insurance, many get the sheer panic. Not to worry! Whether you are a real estate owner or a tenant, there are some differences but also parallels. Find out in this article which insurance you really need.
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The residential building insurance

Anyone who owns a property needs homeowners insurance in any case. It is a must-have for every homeowner, because it protects against the financial consequences of possible property damage. This is because in the event of an incident, the property, including all permanently installed items, is fully covered. The insurance kicks in after a fire, for example, and you even get compensation for the damage caused by soot and extinguishing water. In addition, tap water damage, overvoltage damage, hail and storm damage from wind force 8 as well as explosions, implosions and damage caused by lightning are covered.

The elementary insurance

Elementary damage insurance is also an important insurance for real estate owners. It protects you from the possible effects of natural events. Depending on the region in which you live, you can protect your home against the consequences of flooding, snow pressure or volcanic eruptions, among other things. Coverage against earthquakes, avalanches or landslides is also possible.

Home contents insurance

Tenants and homeowners should definitely also take out household insurance. It covers all movable items, such as electrical appliances, clothing or furniture. In case of fire, burglary, water or overvoltage damage, you can be sure that the household insurance will cover the costs incurred. Tarifcheck, for example, is a helpful platform for comparing insurance quotes.

Legal protection insurance

Decide also for a legal protection insurance. In the event of possible legal disputes, perhaps even with your landlord, financial compensation is provided and you are on the safe side. In the event of a conflict, it will cover the costs of mediation or out-of-court dispute resolution. Legal expenses insurance also covers lawyers’ fees and court costs, as well as the costs of experts consulted by the court.

The private liability insurance

As the name suggests, private liability insurance is mandatory. For example, if one of your guests falls in the apartment or has an accident due to black ice in front of the house, you have to pay with your private assets. Private liability fully covers these and similar damages. Homeowners and tenants alike should take out liability insurance. Relatively new on the market are the so-called house and apartment protection policies. They cover the costs that may arise, for example, for the removal of wasps’ nests or for the cleaning of drainage pipes. Even if you accidentally lock yourself out, you can confidently pass on the bill from the locksmith to your insurer.


Some homeowners believe that they can require their tenants to carry certain insurance, such as liability insurance. In fact, many leases contain a clause to this effect. However, this is void, as no property owner has the right to oblige the tenants of his premises. It is only possible to make a recommendation to take out certain insurances.

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The Fundamentals of Insurance: Theories, Principles and Practices

Insurance is perhaps the most effective device for managing ‘risk,’ which is a pervasive phenomenon in our lives. We can sometimes avoid or reduce it but never entirely eliminate it.


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Understanding Insurance

The author offers some details about insurance and its mechanics with the help of simple examples. The objectives are to give the tools and some basics to anyone who wants to understand insurance.


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