Residential real estate: well at home, and well covered!
NOV. 2018 | PROPOSED BY OUR PARTNER BALOISE ASSURANCES LUXEMBOURG
In Luxembourg, quality of life and day-to-day safety are two major assets, and residents give the country an excellent rating in all world rankings. However, everyone knows about people who have been robbed of their homes or even burned down their homes. What is the reality of the situation, and how to protect yourself?
The fires remain frequent
The 112 intervention report for 2015 indicates about 322 interventions for house fires and 255 for apartment fires.
As we can see, fires happen, and that is why smoke detectors become mandatory in all homes as early as 2019.
Burglaries increase
According to the 2017 figures of the Grand Ducal Police, home burglaries are increasing by 7% , whether by breaking a door or window, climbing a roof and balcony, or using a false key ...
And this without even considering burglary attempts, which also increase and remain traumatic for the occupants.
The importance of home insurance
It is to face this double reality that individuals should systematically take out home insurance : it protects against the risk of fire, electrical damage, falling trees, natural disasters, water damage, but also of course burglaries. In passing, it is important to indicate in the contract a value of insured content that is sufficient to cover all the goods, including the possible integrated kitchen.
And we can never stress enough the usefulness of supplementing with a "private liability" option , which will protect the family against the consequences of unintentional damage to other people: a balloon in the neighbor's window, it happens too!
And if I buy my home?
To finance the purchase of housing, it is common to have to borrow from the bank. This one very often requires to take out an insurance balance remaining due , in case the borrower could not manage any more to repay his debt (for example following a death or a serious accident.)
It is therefore highly recommended to request simulations from different Luxembourg insurance companies, the savings being significant.
A small renovation?
The housing you occupy needs a renovation or a substantial improvement?
When finished work, remember to inform your insurer, to avoid finding yourself underinsured.
You buy a home to rent it?
It may happen that your tenant does not pay you anymore the rents he owes you.
Know that there are insurance against unpaid rent, in order to secure your investment.
Real estate in Luxembourg is expensive, and is therefore an important part of household spending: do not let an unexpected spoil your daily life or your heritage!
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