What is the best homeowner insurance calculator

Home insurance calculator

Getting insurance is essential for homeowners. This will protect your house from unforeseeable damage that can occur, for example, from storms, a fire or a burst water pipe. Other damage-causing events are, for example: rockslide, landslide, storm, hail, snow pressure or lightning strike. It usually makes sense to combine home equity insurance with household insurance. In this case, your entire inventory is also protected, even in the event of break-in, attempted break-in or theft. In addition, homeowner insurance offers you house and property liability insurance and household insurance offers private liability insurance.

Damage to residential buildings can quickly result in high costs that push the owner financially to his limits. First and foremost, home insurance protects against damage to the substance of a building caused by unforeseen and unforeseen forces of nature. In addition to damage to the building, the scope of insurance also includes damage to specially made built-in furniture such as kitchens or cupboards. The floor can be covered by both homeowner insurance and household insurance. Since household insurance provides subsidiary cover for floors, the policyholder usually receives compensation. Awnings and roller shutters are included in most good insurance policies, but some providers have to include them in additional packages.

In addition, there are a number of other components that can be integrated into home insurance. Typically, this includes underfloor heating, the photovoltaic system on the roof or damage caused by broken glass. Damage to conservatories, garden walls or fences, to the swimming pool or to garden furniture can also be covered. In the case of carports, brick grills, letter boxes, children's play equipment, etc., you must also check whether these are already insured in the basic cover. In addition, house insurance usually includes important liability covers that protect the owner of a building against claims for damages from third parties. When comparing different home insurances, all these additional services should be taken into account in any case.

If an already insured home is purchased, its insurance is usually automatically taken over, so that there is no uninsurable situation. In any case, you should carefully examine the relevant contract, as older insurance contracts often no longer have up-to-date content with regard to the scope of coverage and premiums. In these cases, the insurance can be canceled within 1 month of entry in the land register and another house insurance can be taken out.

When taking out the right home insurance, it is advisable to insure the building for the new value. This means that the sum insured and the premium are adjusted annually. The sum paid out by the insurance company in the event of a claim then corresponds to the cost of building an equivalent house. The appropriate sum insured can be calculated based on many different factors. The safest method is to calculate according to the built-up area and the number of floors. With this calculation, most insurance companies guarantee the so-called "underinsurance waiver", which means that the insurance company waives the objection of underinsurance - which results in a reduction in benefits.

Some insurance companies also use the usable living space as a basis for calculation. In large basements or hallways, there may be deviations from the actual value. Due to the different valuation of the enclosed space (on average 800 to 1200 €), the sum insured may vary. Some insurers also include the year of construction, the type of roof or the construction method in their calculations. Houses with more than 3 residential units are usually calculated and insured differently than single or two-family houses. In addition, private or commercial use also plays a role in the amount of the premium.

The factors mentioned are assessed differently by the various insurance providers, which means that a precise and comprehensive comparison is essential before taking out home insurance. This is the only way to find tailor-made insurance cover that exactly matches your personal needs.

Use our online calculator to find the right home insurance, compare the covers and take out online!

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