What happens if I don't have home insurance?

The home insurance is very important when it comes to protecting your home and your belongings against various risks. However, some owners do not consider it a priority or believe that they do not need it. But what happens if you decide not to take out home insurance? We'll tell you in detail below:

• Risk of total or partial loss of your home: Without home insurance, you will be fully exposed to the risks that may endanger your home. For example, fires, floods, burglary or damage caused by natural elements such as storms, earthquakes or hail.  

   

• Civil liability towards third parties: Another important aspect of home insurance is civil liability cover. If someone has an accident within your property, such as a fall due to a slippery floor or there is a water leak from your property damaging your neighbour's home, you may be considered liable for damages and have to pay compensation. Without insurance, this expense could seriously affect your finances, as compensation for injuries or material damage to third parties can be very costly. 

   

• Loss of value of personal belongings: Home insurance not only covers the home itself, but also the personal belongings in it, such as household appliances, furniture, clothing or jewellery. Not having home insurance in the event of burglary, fires or accidental damage will involve you losing these belongings without any compensation.

   

• Difficulties when applying for a loan or mortgage: Many banks establish that you take out home insurance as a condition for awarding a mortgage or a loan to purchase a home. This is because the insurance policy protects both the owner and the financial institution, ensuring that the property is protected in the event of damage or disasters.  

   

• Not having a network of assistance services in the event of emergency: Home insurance usually includes emergency assistance services, such as the following: Urgent repairs for plumbing, electricity, broken glass or problems with locks.  

Home insurance is an investment that provides you security and protection against unforeseen events. If you haven't taken out one yet, we recommend that you take a look at our DKV home insurance.