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Disclaimer: The information was correct at time of publishing but may now be out of date.

It doesn’t matter if you own a house or an apartment – the place where you live is undoubtedly one of the most important, which is why it is crucial to make sure that you have adequate protection in the event of an unexpected.

There are two types of insurance – building and content. The first includes the structure of the house – the roof, walls and windows as well as fixed elements of the property such as kitchen or bathroom. This insurance usually protects your home against fire, storms, floods, subsidence, bursting pipes or theft. Building insurance is unlikely to protect you against wear and tear, war or terrorist acts. Having home insurance is not mandatory, but if you are in the process of buying a property or have a mortgage for your home, such insurance will be necessary.

Content insurance usually covers the cost of buying new home furnishings in the event of loss of a worn one. Some insurers may include wear and tear, which may reflect in the amount of compensation you receive for a damaged item. For an additional fee, you can also buy insurance that that will protect the contents of your home in the event of accidental damage. Personal property insurance (e.g. cameras or laptops), may also be useful.