I was able to access the property: both a great opportunity and a great responsibility! I have to protect my property, because I have invested my savings and perhaps part of my second pillar and I am now the only one who will assume the financial risks of ownership.
By analogy to household insurance, you find the same bases for fire risks, natural damage, water damage and broken windows.
For the risks specific to the building, we add for example:
- additional costs for the rental of replacement accommodation
- catastrophic risks (earthquakes, for example)
- loss of rent revenue if you rent the premises
- failure of building technology, ie solar installations, heat pumps, etc.
- owner’s liability insurance if it is not part of your private contract