Our home, our shelter, our cozy nest, so many expressions that give us an immediate sense of security. However, the risks of fire, water damage or even theft are not uncommon. To be completely serene, a comprehensive house insurance is crucial. Although house insurance is not mandatory in Luxembourg, it is strongly recommended.
Browse this complete guide to check if you are well protected.
1. Protect yourself against the most common risks
It is recommended to protect your home against the most common risks: fire, water damage, theft, climatic hazards (storm, hail, and snow), flood, glass breakage, electrical and household damage.
Most insurers offer solutions that cover these risks as a bundle. For example, easyPROTECT Home offers you 3 different customisable formulas according to your needs. Theft is already covered in the basic formula Security.
2. Cover yourself as a tenant and owner
Whether you live in a flat or a house, which you own or rent, it is highly advised to protect your home.
As a tenant, it is important to protect your furniture and fittings. It is not uncommon for the owner of the building to require such insurance. In addition, the latter may exercise recourse for damage caused to the building for which you may be held responsible. In the event of fire caused by you, your insurance will compensate the owner for damage to the building and you for damage to your belongings.
For owners, it is also recommended to take out insurance for buildings that are rented out. Indeed, some risks are the owner's responsibility, and not the tenant's: find out well in advance and ask your agent for advice!
3. Carefully compare insurance offers
Although prices are important, when choosing your insurance you shouldn't overlook other aspects, e.g., coverage or limits. In the event of a claim, a formula with a low premium can indeed turn out to be more expensive than a formula with a higher premium but a more comprehensive coverage.
Don't forget to opt for insurance that makes your life easier. With easyPROTECT from LALUX, you combine your main insurance policies in one contract and have a clear overview of your entire family's insurance cover. You also benefit from a discount of €50 per insured home and up to €100 per car insured with CASCO.
4. Avoid underinsuring your property
Let your trusted agent assess the value of your property. The sums insured will thus be fixed on the basis of a well-founded estimate and you will avoid any risk of underinsurance in the event of a claim.
5. Remember to evaluate your furniture
In terms of insurance, furniture is all the furniture present in your home, and which belongs to the household. In addition to furniture, this includes your fitted kitchen, your household appliances, your decorative elements, your clothes, your high-tech appliances, etc. To ensure that the sum insured corresponds to the actual value of your furniture and to avoid unpleasant surprises in the event of an insurance claim, you should make sure that you appraise all your possessions. As such, if you were to be the victim of a burglary and your television and jewellery were to be stolen and some of your furniture destroyed, your insurance company will reimburse you for the amount indicated in the specific conditions of your home insurance.
6. Are you planning a construction project? Secure yourself from the start of the construction work
Whether it is a renovation, transformation, or construction, the success of such a project depends on good preparation. Construction insurance from APROBAT LALUX Assurances effectively protects your site for the duration of the work and up to 10 years after its completion. In addition, regular checks can be carried out by APROBAT specialists to verify that your project is carried out properly, and to guarantee the quality of your project.
Make sure, however, to take out such insurance well before the start of the work!
7. Protect your investment with Mortgage Insurance
If you are about to take out a mortgage to become a homeowner, you have probably already heard about Mortgage Insurance! Often required by banks, it allows you to protect your family from financial risk.
Its main purpose is to repay the outstanding capital in the event of death. Typically, this amount is equivalent to the loan amount and gradually decreases throughout the contract. It can also be supplemented with additional coverage that repays the covered capital in the event of disability.
Don't forget that Mortgage Insurance is also tax-deductible!
8. Choose a good insurance company in Luxembourg
To insure your home, it is essential to find a company offering comprehensive insurance products tailored to your requirements. Trust a company recognised by its customers: several independent studies, such as the one conducted by ILRES, provide objective insights into how a company is rated by its policyholders. According to an internal satisfaction study, 98% of customers are satisfied with the management of claims.
9. Your agent always by your side
Finally, let yourself be accompanied by an agent! The agent is an expert in their field and knows all the products. They advise you on the insurance to choose according to your needs and your situation. In the event of a claim, they make themselves available to support you in your procedures and find the first concrete solutions with you.