What insurance is really important?
Sigrid Woitha, a finance expert at the Saxony Consumer Advice Center, explains what to consider when insuring your home and home contents.
“You hear over and over again that you can save a lot of money with insurance. But we don’t want to save in the wrong place. What should we take into account when insuring the house and the contents of the home?”
Financial expert Sigrid Woitha from the Saxony consumer advice center: Damage to the house can quickly put the owner in danger. That is why it is very important to take out comprehensive home insurance. A home should not be insured solely against the risk of fire.
Damage from tap water, storms and hail is also often of immense proportions. If the mentioned risks are insured together, it is called combined residential building insurance. In addition, it is important to insure against natural hazards as well. Because high tides, floods, backwaters, avalanches and snow pressure, but also landslides, subsidence and earthquakes are causing increasing damage in our latitudes. Other useful additional agreements relate to, for example, demolition and cleanup costs, decontamination, and surges.
From an inventory value of around 20,000 euros, it is worth considering household insurance. Household effects include furniture, durable and consumable goods, as well as cash and valuables. Fixtures include, for example, furniture, rugs, and curtains. Consumer goods include crockery, bedding, but also books and hi-fi equipment. After all, food and drinks are consumables.
Contents insurance replaces damage caused by fire, lightning, explosion, theft, mains water, storm and hail. Therefore, damage caused by rain or simple theft is usually not insured. Elemental damage can also be additionally insured here. Services must also be arranged in the event of gross negligence, otherwise disputes with the insurance company can often arise in the event of a claim. By switching to a provider with a cheap rate you can already save a lot of money, as well as for the payment method.