Building insurance - security for your own four walls

Elemental damage, such as fire, water, storm and hail, are the worst enemies a homeowner can have. In the event of damage, costs may arise that would lead to financial ruin. That is why building insurance is one of the most important insurance policies that a homeowner should take out.

Building insurance includes all permanent residential buildings as well as garages, gardens and enclosures. Garden houses and carports are not included. For this purpose, a separate insurance is required. A building insurance is a so-called property insurance, which insures privately used buildings sufficiently.

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Table of Contents

1.Why protects a building insurance?
2. Can building insurance be taxed?
3. Does the building insurance have to stay in place when changing ownership?
4. Is the building insurance to be informed at a vacancy?
5. Which building insurance is right for me?

What protects a building insurance?

As already in ours Building insurance Compare mentioned, the insurance cover includes the entire structure and related fixtures, such as an elevator, a fitted kitchen or a terrace. At the same time permanently installed attachments are also insured, which includes, for example, a mailbox. The following damages are insured in the building insurance:

Hail and storm
Fires
tap water

Which other components are also insured, depends on the respective tariff. However, there is the possibility that the scope of insurance can be easily extended by additional service modules and thus at the Building insurance amendments can be made.

A special feature is the elemental damage such as snow and flooding. Especially in the case of flood damage, it depends entirely on the region in which the insured building stands. In Germany, there are now some regions that are considered particularly vulnerable. In these cases, additional insurance with respect to natural hazards is not possible because of the Building insurance High water too high a risk.

Can building insurance be taxed?

As a rule, costs that are intended for the protection of one's own person as well as for precaution can be deducted from the tax. A building insurance is therefore not included. However, there is one exception. If this insurance is used to secure a rented property, the costs can be deducted for tax purposes. The rental income thus applies to the provision and can be recognized as income tax expenses. At the same time, the Building insurance on Tenant so that the costs are borne by them.

Does the building insurance have to stay in place when changing ownership?

If the building is sold, the insurance company must be informed directly, as the duties and rights are automatically transferred to the new owner. However, the new owner has the option to terminate or take over the contract within a specified period. In most cases, a notice offers, however, as with a new deal usually better terms can be negotiated

Is the building insurance to be informed at a vacancy?

As soon as structural alterations or construction work are carried out on the building, the insurance usually has to be informed. This also applies to the Building insurance consider vacancybecause there is a danger increasing circumstance. If the insurance is not informed and there is a loss, it may lead to the fact that no insurance cover is given.

After completion of alterations or structural alterations, the sum insured increases as a rule. That is, there is one Building insurance increase The value of the property is thereby increased and thus also the sum insured. If the insurance is not informed about a conversion, it can quickly come to an underinsurance in case of damage, that is, the performance of the insurance are either reduced or even completely denied.

Which building insurance is right for me?

There is now an extensive one building insurance Services from dozens of providers and hundreds of fares. But which building insurance suits me? With us you have the possibility to have a building insurance calculated to find the right insurance for you. It is advisable to compare the different rates individually to get a perfect combination of performance and price for your own four walls.

Depending on the provider, the service packages can be very different. Important is when building insurance Comparethat all services are included that are important and necessary so that full coverage of the policy is provided in the event of damage. Often, the basic protection is not enough, so that the building insurance must be extended by additional insurance modules.

Conclusion for building insurance

Damage to the residential building can often be very expensive. Whether due to hail or storm, lightning or overvoltage damage, the repairs are often very expensive and can cause financial problems. The building insurance offers optimal security in this case, because the costs are taken over by the completed risk insurance.

Many factors play an important role in building insurance. This includes, for example, the location of the building as well as the age and the equipment. In any case, it is important that you, as a homeowner, are sufficiently insured so that the costs can be covered by the insurance in case of damage. The basic package usually offers only a limited hedge, so it is often necessary to include additional insurance elements in order to obtain a perfect insurance coverage that really includes everything.