Home and Property Liability Insurance

As the owner of a property, you are liable for compensation if you are directly or indirectly responsible for harm to third parties on your property. Since you have to bear the full cost of compensation, it’s easy to reach your financial limits in the event of a significant loss. That’s why the legislature provides for homeowners’ and property liability insurance, which covers these costs for you. Typically, the insurer covers gradual damage, water damage, and damage caused by construction work. For more specific questions about covered benefits, please review the respective policy terms.

To obtain homeowner’s and property liability insurance that is optimally tailored to your life situation, insurers differentiate between types of homes and their purposes. For example, homeowner’s and property liability insurance will distinguish whether a property is predominantly residential or used mainly for commercial purposes. These insurance policies also vary based on factors such as square footage and the size of the adjacent street. Another significant factor for determining the premium of homeowner’s and property liability insurance is the number of apartments or houses involved.