In 2022, the 112 response report showed 2,846 fires in all categories, and according to the statistics of the Grand-Ducal Police, there were also 2,958 burglaries in inhabited homes (an increase of 700 cases) compared with the previous year.
So it's crucial to have good home insurance; it protects you against the risk of fire, electrical damage, falling trees, natural disasters, water damage and, of course, burglary. It's also important to stipulate the fair value of your belongings in the insurance contract, so that all your possessions are covered, including any built-in kitchen.
And we can't stress enough how useful it is to supplement your insurance with a 'personal third party liability' option, which will protect the family against the consequences of unintentional damage caused to other people: a ball in the neighbour's window happens too.
To fund the purchase of your home, you often need to borrow from the bank. The bank will often ask you to take out outstanding balance insurance, in case you are unable to repay your debt (following a death or serious accident, for example). This insurance will enable you to protect your loved ones in the event of death or disability.
Does the property you live in need substantial renovation or improvement? As soon as the work is finished, remember to inform your insurer, to avoid finding yourself underinsured.
It could happen that your tenant stops paying the rent he owes you. You should be aware that there is insurance against unpaid rent, to secure your investment.
Have you bumped into another vehicle or accidentally slammed your door into one of the many posts in an underground car park? Your car simply won't start? Depending on the level of insurance cover you have, repairs to your car will be covered even if you are to blame. Don't hesitate to ask your agent to review your policy to make sure you have the right cover.
It's not unusual for unforeseen circumstances to disrupt holiday plans. A health problem, unforeseen family circumstances or an emergency situation can force you to cancel your holiday at the last minute. When booking your holiday, remember to take out cancellation insurance. This generally covers the costs incurred in the event of unforeseen circumstances such as illness, accident or other personal emergencies.
You can't avoid all the hazards of everyday life, so it's a good idea to be properly insured to limit the financial consequences. Remember that every situation is unique and requires an approach tailored to your specific needs.