How much does it cost to insure a house?

Your own home is a valuable asset that you must insure properly. Nowadays, houses are no longer only insured against fire, but also against other external disasters such as storms, theft and vandalism. You must insure your own home, as well as a rental home, against certain dangers. The most important danger you need to insure your belongings against is fire. The chance of a fire in your home is small, but cannot be ruled out. Fire is the greatest danger because it is devastating. They generally cause major damage. A burglary or vandalism is often limited to a small amount, but in the event of a fire there is a good chance that your entire house or a large part will be destroyed. The fire brigade can reduce the consequences of a fire, but due to water damage from extinguishing the fire, the damage is often still considerable. You must insure not only the house but also your contents against dangers. For example, if the house is destroyed by a fire, you will have to buy all your furnishings new. The cost of insurance depends on the costs of rebuilding the house and purchasing new furnishings.

What does the amount of the premium depend on?

For both home contents insurance and home insurance, the premium depends on the risk that the insurer has to pay out and how much the insurer has to pay out in the event of damage. A house with a rebuilding value of 500,000 will be more expensive to insure than a house with a rebuilding value of 200,000. In addition, the insurer also looks at the chance that damage may occur. A house made of stone is less susceptible to fire than a wooden house. Some houses are difficult to insure because they pose too great a risk. For example, not all insurers want to insure a house with a thatched roof or a caravan.

How much does home contents insurance cost?

The premium you have to pay for home contents insurance will differ per insurer. By comparing carefully you can save tens of euros per year. Insurers often express the premium as a percentage of the insured amount. You must pay a certain alcohol amount per thousand euros of insured amount. These blood alcohol levels differ for a regular house made of stone with roof tiles between 0.80 and 1.75 per thousand insured amount. The cheapest insurer will therefore charge a premium of 160 per year for a house with a rebuilding value of 200,000. On top of this amount are the policy costs and insurance tax. Contents in houses with a higher fire risk will be more expensive to insure. For example, for a wooden house with a thatched roof, you pay at least 2.6 per thousand euros of insured capital. The premium for this risk can amount to approximately 5.50 per thousand euros of insured capital.

How much does home insurance cost?

With home insurance, insurers also express the premium as a percentage of the insured amount. For a standard stone house with a tiled roof you will pay between 0.55 and 1.10 per thousand euros of insured capital. A wooden house with a thatched roof will cost approximately between 3.70 and 5.10 .

The amount of the insured amount

The insured person generally determines for what value a house will be insured. The risk is that the amount has been estimated incorrectly. As a result, your home or contents may be underinsured. In the event of underinsurance, you will not receive the full amount in the event of damage. If the insured amount is too high, you will have to pay a premium that is too high. In the event of damage, the insurer bases itself on the actual value of the house or contents.