Test: Insurance for owners of real estate in comparison

Anyone who owns their own property needs homeowners insurance. Stiftung Warentest has compared how inexpensive or expensive insurance policies for houses or apartments are in a test. The experts recommend not to save at the wrong end. 

Insurance policies have become 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 building. Because the cost of building has risen sharply, rates are also becoming more expensive. Nevertheless, a very good insurance policy does not have to be the most expensive, report the financial experts at Stiftung Warentest.

The foundation examined 195 tariffs for the protection of residential buildings. 103 rates were very good, but there are large price differences. A good policy should cover, for example, gross negligence, cleanup costs and overvoltage as basic protection, 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. These include coverage of costs for hotels, experts, smoke and soot damage, and damage caused by vehicle collisions.

If you want to switch now, you shouldn't be too hasty: It is recommended that you first conclude the new contract and then cancel the previous one. Some insurers will wave off a policy if a house is old, for example, or if there has been a lot of damage in recent 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. If you want to save money, you can lower the premium with a deductible. 

Using a checklist, you can check your own current protection and change providers with a step-by-step list. The test "Wohngebäudeversicherungen" can be found in the April 2023 issue of Finanztest magazine or for a fee at www.test.de/wohngebaeudeversicherung.

(Photo: © Tumisu, Pixabay)