Did you ever break something at a place that was not your home?
Sometimes when you are having a good time at a friends place and you come around joking and laughing and drinking it might happen that you accidentally slip and drop a glass of wine on the newly acquired HI-FI system of your friend. And then one feels bad and one start to wonder on how much the system has cost him/her and you start to question yourself, ‘Can I really afford to offer him to pay for the damage?’. At the time I had quite high running costs of a nice flat, big car and obviously my holidays four times a year. However, it was nice to know that I had household insurance covering me. In these situations, when you feel really bad in the first place breaking the thing, you definitely can feel good about offering a replacement or have the old HI-FI repaired.
Do you have a family?
Another important part of your insurance is the fact if you have a family – children. If your children break something or destroy anything at another one’s home or at school and you do not own a home insurance you are somewhat screwed because you have to pay for charge all by yourself. If you are properly insured you do not have to worry about that – at all.
Insurance policy details
One important issue of home insurance is that you have to watch out in which country you sign your home insurance deal. I had a friend moving from the USA to Germany, trying just to change their street address, country and zip-code The difference between the United State and Germany is that in the USA the overall property is insured whereas in Germany only the interior like carpets, kitchen etc are covered. Best you check with your local insurance institute to be sure and ask for a “Hausratversicherung“, the German word for home insurance. There you will receive all the details of coverage – included and excluded factors in local insurance policy, which applies to your specific country you are in.
Your policy has to fit to your needs so do not let yourself get allured by expensive deals with a minimum duration rate over several years. That is the reason why you should always compare different institutes regarding pricing models and duration as well as other contract details. Some people need to be insured for breakage of glass, for example when having a conservatory; some rather need all the special technical equipment to be insured against a possibly upcoming theft. The decision is all about the property – so chose wisely.