Tenant or owner, including non-occupant owners, it is essential in Luxembourg to take out a housing insurance. The objective? To protect one’s home and belongings.
Why taking out home insurance?
Home insurance allows you to protect your home and property against the many issues that may occur.
Subscribed annually with the insurer, the latter certifies a partial or total reimbursement in case of damage.
It also offers civil protection to its occupants.
Who should take out insurance?
Whether you are a tenant or an owner, it is strongly recommended that you take out housing insurance as soon as possible.
Taking out a home insurance policy allows homeowners to be covered in case of damage. In the event of a claim, it is thus up to the insurer to pay compensation. This applies even if you rent your home and do not occupy it yourself.
In Luxembourg, tenants or flatmates can take out insurance to cover the dwelling, furniture and also personal effects against the risks of fire, storm, water damage or theft. However, Luxembourg law does not oblige the tenant to take out any insurance.
Attention! Although it is not obligatory to take out a home insurance policy, the tenant is nevertheless obliged to reimburse the damages in case of fire or water damage for example. It is therefore strongly recommended to take out an insurance policy…
The owner of a rented property has the option of taking out home insurance covering the risks of fire, glass breakage, theft or water damage.
Which home insurance policy?
Home insurance is available in several commercial offers, more or less complete depending on the insurance company. Several types of contracts are thus generally offered to allow you to protect yourself according to your needs.
However, home insurance contracts always cover the basic risks, namely: fire, water damage, theft, glass breakage, storms.
Owners, like tenants, are however invited to subscribe to a so-called “modern” insurance. This covers not only the risks associated with the property, but also many other elements, as required.
Tip! 68% of Luxembourg Internet users (Statec figures, 2016) claim to have already disclosed banking information on the Internet. Be aware that some insurance companies offer an “e-protection” option with your home insurance!
E-protection” is a legal protection offered by some insurance companies. This option aims to protect the insured against Internet-related risks such as fraudulent payment, a dispute during a purchase from an e-merchant, identity theft, but also an attack on the e-reputation.
Warning! When moving, remember to cover the contents of the vehicle. The companies of movers generally propose specific covers.
The estimate of the value of its goods
To properly secure your home, it is important to properly assess the value of its contents and personal belongings. In fact, this value has an impact on home insurance and the resulting reimbursements. So, how can you properly evaluate the contents of your home?
The first piece of advice is to draw up an inventory of your belongings. This list allows you to identify your valuables. Secondly, the reference number, the date of purchase and the invoice of the object can help to calculate the value of the goods. These elements can also be very useful in the event of a disaster.
When calculating the value, it is important to take into account the usage price of the goods and not the purchase value. Depending on the property, its value may depreciate over time.
Caution! In Luxembourg, the value of an equipped kitchen is included in the contents of the furniture insured by the policy. Remember to include it when you value the insurance amount!
Moreover, if the contents of the furniture are made up of many precious objects or works of art, it is strongly recommended to take out a specific policy.
Tip. Take pictures of your valuables. In the event of a burglary, they can be very useful! Save them in different places or directly on the Internet.
Enhance the value of the insured assets
Year after year, the movable heritage evolves.
It is therefore important to reevaluate it regularly in order to always take out a suitable insurance policy.
Home insurance rates
The cost of a home insurance policy depends on many factors. Among them, the type of building, the value of the contents, but also the guarantees taken out.
Note that some insurance companies offer discounts, such as when there is no claim according to the formula, or when you buy a fire system… These discounts vary according to the contract and the company. It is therefore advisable to contact a company advisor directly.
Which insurance company to choose?
In Luxembourg, there are many insurance companies. Each one has its own specificities and contracts.
It is therefore advisable to contact them directly in order to make an appointment with an adviser or request a quote.
Specificities of housing insurance in Luxembourg
As far as housing insurance is concerned, Luxembourg has its own specificities. Here are the main differences between the Grand Duchy and its neighbouring countries.
Unlike its neighbouring countries, coverage for natural disasters – namely earthquakes and floods – is optional in Luxembourg.
Indeed, in France and Belgium, it is compulsory to take out such cover. In France, it must cover floods, earthquakes and drought. In the Kingdom of Belgium, housing insurance must cover floods.
Rental civil liability
On the French side, rental liability is mandatory. It is only optional in the Grand Duchy of Luxembourg.
What to do in case of emergency in your house?
Water damage? Door slammed? Burglary? What are the right reflexes to have?
Most insurance companies offer coverage in case of emergency. An assistance service then takes care of the insured.
Before facing an emergency, check with your insurance company to obtain the number of the assistance service.
In case of loss, theft or forgotten key
In the event of loss, theft or forgetting a key, the insured is invited to contact directly the assistance of the insurance company with which the housing insurance contract was taken out.
Indeed, some companies – such as Axa – offer specific guarantees.
These aim to cover all or part of the costs in the event of a problem.
It should be noted that some insurance companies send a repairer themselves and then pay him directly. So remember to call your insurance before contacting a locksmith!
In case of water damage
In the event of water damage, the first thing to do is to identify the source of the problem and to deal with it as far as possible.
In case of fire
In case of fire, it is important to call the fire brigade as soon as possible and take cover.
Once the fire has been brought under control and access regained, evacuees should contact their insurance company. A claim form, an inventory of the damaged property (accompanied by their invoice, if possible), a fire report from the firefighters and photos of the property should be sent to the insurer.
In case of burglary
In the event of a burglary, the first thing to do is to notify the police as soon as possible by calling 113.
Once the police have intervened, it is important to notify the insurance company with which the home insurance policy was taken out.
The inventory of the stolen objects, photos and bills – as far as possible – should then be forwarded. Property damage and evidence of burglary should also be reported. Retain all evidence of the break-in, which must be shown to the expert appointed by the insurance company during the expert’s visit, until the claim has been settled.