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Whether you own or rent a home, you are exposed to a number of possible risks.
Fire or home insurance is the non-life insurance that will protect you in the event of direct and indirect damage, inside and outside the home, caused by damage to the home and its contents, as well as damage to others - civil liability to third parties.
What does home insurance cover?
Fire insurance or home insurance consists of a series of mandatory coverages, which can also be supplemented with additional and optional coverages to better protect the home and its contents.
What are the mandatory coverages?
Although fire insurance is not mandatory, its content is largely determined by law, which provides the minimum risks to be covered in case of concluding home insurance, these beings:
1. Damage caused by fire, explosion, or implosion.
2. Damage caused by an aircraft.
3. Damage caused by an animal or car after a collision with an animal.
4. Damage caused by a fallen tree on the building.
5. Damage to the building following a theft (sometimes provided you also choose to insure against theft).
6. Damage caused by breaking or cracking windows.
7. Damage caused by natural disasters (except for areas potentially flooded or exposed to seismic movements).
8. Damage caused by vandalism, attacks, and industrial disputes (including terrorism).
9. Damage caused by lightning, storm, hail, and snow.
10. Damage caused by smoke and soot.
11. Damage occurred by water and fuel.
What are the additional coverages?
It is possible to add various additional coverages to the fire insurance. Please note that the additional coverage does not cover the damage itself, but the other costs resulting from the claim. Additional coverage means:
1. Commissions of expertise
2. Rescue costs
3. Housing costs when it has become uninhabitable.
4. Costs for the prevention of emerging damages.
5. Costs to prevent further damage.
6. Demolition costs of damaged goods.
7. Costs of cleaning and transporting debris.
8. Storage costs for household effects during repairs to your home.
9. Civil liability of the dwelling
10. Damage caused to third parties for which you are responsible.
What are the optional coverages?
In addition to additional coatings, you can also opt for a number of optional coatings. Optional coverages include:
1. Theft insurance
2. Insurance for higher reimbursement due to unforeseen costs, etc.
Who needs to buy home insurance?
We make a distinction between the owner and tenant of a home such as a house, an apartment, or a student room. For both parties, it is recommended to take out home insurance.
As a landlord, home insurance is useful to protect your property, and as a tenant, you want your home insurance to cover your liability in the event of possible events and to protect your furniture. In addition, home insurance covers liability to third parties.
The provisions contained in the home insurance are different, depending on the holder of the concluded insurance policy, who can be the owner or tenant, therefore we recommend reading them carefully, especially the chapter on exclusions!
Fire insurance is not compulsory in Belgium, but 95% of Belgian households are insured, as there are situations where fire insurance becomes compulsory following procedures, such as when you apply for a loan from a bank and the bank that grants it, puts a mortgage on the home you own, and another common situation is the renting of a house, in which Belgian landlords and tenants have taken out fire insurance.
In Wallonia, the tenant must take out, starting with 01.09.2018, an insurance that covers damage caused by fire and water. In Flanders, from 01.01.2019, tenants are required to insure themselves when renting a home and are also required to return the rented property in its original condition as in Wallonia. In addition, you must take out third-party liability insurance. It is also recommended for tenants to insure their household effects - furniture, appliances, electronics, etc. For other specific additional information do not hesitate to contact us by phone or online!