Household, real estate, animal and property insurances

Home insurance can cover the movables and the building against various kinds of damages. In a housing corporation (for example, a block of flats or a semi-detached house), the residents insure their own movables with a home insurance. The resident of a one-family house will take an insurance on the movables and the house itself, including any other buildings or constructions attached to it.

Home insurance normally compensates for the damage of an individual object up to the maximum sum determined in euro, defined in the policy terms. For this reason, any valuable property, such as expensive artefacts, should be insured separately so that their coverage is as extensive as necessary.

Compensated events

The insurance taken on the home movables covers the damage to the home items to the extent that has been chosen in the policy contract. The insurance can also cover expenses for temporary accommodation, for example, in cases of fire. The insurance can be extensive in which case it covers sudden and unexpected losses, or more limited, covering only the damage caused by certain chosen events.  

The home insurance always comes with exclusions which exclude certain things from the scope of coverage of the policy. The insurance does not compensate for damage caused by the reasons listed in the exclusions.

The policy terms also include instructions for protection which are guidelines for damage prevention. Neglecting these instructions may impact the compensated sum, and therefore it is most advisable to follow the instructions.

Compensations paid from the home insurance

The home insurance will compensate for the repair of the damaged property or for the purchase of corresponding replacements.  A cash compensation may also be possible. The age and condition of the damaged property will impact the sum of the compensation. In case of certain objects and articles, the compensation is reduced by a deduction based on the age of the article, or the value of the property will be assessed using other methods.

The home insurance often also includes general liability and legal expenses insurance policies. The general liability insurance compensates for damage caused by the injured to others, for which the insured is liable to pay damages according to valid legislation. The legal expenses insurance, in turn, compensates for expenses incurred for legal counsel in disputes, penal or non-contentious civil cases.