Property insurance

It is important to choose the right insurance, but the market can be difficult to see through. Get some good advice on what your property insurance should include if you live in a homeowners association.

What MUST be covered in property insurance?

Some coverages can be chosen, others are mandatory as they are property threatening if an injury occurs. The following six types of coverage are required in property insurance:

Building fire - insurance that covers damage as a result of fire, lightning, explosion, and explosion.

Short circuit - insurance that covers damage to the property's fixed electrical installations where no fire occurs.

Residual value compensation - insurance that gives the right to have the remains of a damaged property demolished when the property is more than 50 percent damaged.

Other building damage - insurance that covers damage due to storm as well as subsequent precipitation damage, damage due to thawing, and cloudburst. In addition, this category also covers damage due to burglary, water damage from the property's pipe installations, and collision damage.

Rent loss - insurance that covers loss of rental income when premises can not be used after a claim that is eligible for coverage.

Homeowner liability - insurance that covers the liability that you as a homeowner take on for damage to persons or property. Including liability for residents and others.

What insurance can you also take out?

Contract coverage - insurance that covers damage as a result of minor alterations or extensions and includes the construction contractors according to AB92. AB92 gives the contractor the right to be co-insured on the client's insurance for fire and storm. Most artisans include this as a standard condition in the bidding process.

Sudden damage - the insurance covers other sudden damage.

Vandalism / Graffiti - the insurance covers graffiti cleaning and painting.

Laundry coverage - the insurance covers damage to laundry due to technical faults in laundry equipment eg communal laundries.

Key coverage - the insurance covers expenses for conversion and replacement of locks and keys in the event of a burglary.

Door blasting - the insurance covers costs as a result of public authorities having to gain access to an apartment as well as expenses for repairing damage caused by a resident's death.

Clean-up and soil damage - the insurance covers the costs of cleaning up, removing, and destroying contaminated soil after an injury.

Board liability - the insurance covers the association's board members.

Legal aid - the insurance covers expenses for legal and legal costs.

Fungal and insect damage - the insurance covers attacks that impair the strength of the building structure.

Glass - the insurance covers breakage of all glass incl. ceramic hobs.

Sanitation - the insurance covers breakage of sinks and toilet bowls.

Pipe damage - the insurance covers damage to hidden pipes in the property. Pipe damage should also include power cords, antenna cables, etc.

Outlets - the insurance covers damage to outlets until public connection.

Work injury - the insurance covers personal injury to employed caretakers as well as residents who perform work for the property.