Stiftung Warentest: Insurance for property owners in comparison

Insurances became significantly more expensive this year. But in return, they provide protection against damage caused by tap water, fire, storm or flood. In addition, the building is insured at the respective value of the new construction. Because the cost of building has risen sharply, rates are also becoming more expensive. A very good insurance must be nevertheless not the most expensive, report the financial experts of the donation goods test.

The donation examined 195 tariffs for the protection of residential buildings. 103 tariffs were very good, but there are large price differences. Cover should a good policy as basic protection, for example, gross negligence, cleanup costs and overvoltage but also transport or storage costs for parts of the house, additional costs due to building requirements or decontamination of the soil by toxic substances. Additional services in the offers were rated positively in the test. In addition belong for instance the assumption of costs for hotel, experts, smoke and soot damage or damage by the impact of vehicles.

Who wants to change now, should not be hasty: It is recommendable to lock first the new contract and to quit then the past. Some insurers wave off namely, if a house is old for example or there were many damages in the past years. Finanztest also gives clear recommendations on the scope of the insurance: Damage caused by fire, tap water, storm and hail plus natural hazards should always be covered. Who wants to save, can lower with a self-retention the contribution.

On the basis of a check list one can examine the own current protection and change with a step by step list the offerer. The test "residential building insurances" can be found in the April 2023 issue of Finanztest magazine or for a fee at www.test.de/wohngebaeudeversicherung.