Household items and personal effects:
The insured objects are indicated in the policy conditions and insurance policy.
Personal effects insurance usually covers:
- the resident's personal effects, such as e.g. furniture, clothes, electronics, home appliances, dishes, textiles and jewelry.
- Money and securities up to an aggregate limit of indemnity determined in the insurance policy or policy conditions
- movable property in the basement or other storage facilities of the apartment are covered by movable property insurance up to an aggregate limit of indemnity, e.g. up to €5000
- The insurance coverage of valuables such as valuable art, furs and antiques must be checked separately. a aggregate limit of indemnity may have been determined for valuables, e.g. €3,500–15,000 per artefact
Household items and Personal effects insurance usually does not cover:
- Building and fixed structures in the yard (insured separately with a building insurance included in the home insurance or housing company's property insurance)
- Movable property let or lent to another person
- Professional tools used or owned by a company or association
- Fixed interior decoration or structures, which the housing company is responsible to maintenance consistent with the Articles of Association or Section 4 of the Limited Liability Housing Company Act
- Theses and treatises, manuscripts and equivalent documents
- Illegal possessions
- Electric current and water
Household items and Personal effects insurance covers also interruption of residence. Interruption of housing coverage means that personal effects insurance indemnifies costs resulting from having to move out of the actual residence due to a covered damage occurrence. The costs of living elsewhere are only indemnified when the need of temporary housing results from a damage covered by the insurance pursuant to policy conditions.
If you need to move out of the apartment for some other reason, such as mould damage caused by construction flaw, the cost of moving elsewhere is not indemnified based on the home insurance. In the policy conditions, the payment of interruption of housing indemnity is often limited to a maximum period, such as 6 months or 12 months. Housing arrangements must be agreed in advance with the insurance company.
Fixed interior decoration:
Fixed interior decoration includes e.g. floor surfaces, wallpapers, kitchen cabinets and fixed bathroom furniture. The fixed interior decoration coverage of home insurance typically contains a maximum limit in euros to be paid in case of damages. The limit may be e.g. 5,000-10,000 euros. ….
Fixed interior decoration usually includes the structures, for which the shareholder has maintenance responsibility under the Limited Liability Housing Company Act.
Fixed interior decoration also includes alterations and improvements in the apartment, i.e. structures, which have been replaced or repaired to be different or better than equivalent structures in the housing company.
E.g. If the apartments in the housing company generally have laminate floors, installing a parquet floor is considered said improvement. If you have invested in interior decoration, make sure that the aggregate limit of indemnity for fixed interior decoration is sufficient.
If the housing company's Articles of Association extend the maintenance responsibility of shareholders beyond that stipulated as the usual maintenance responsibility consistent with the Limited Liability Housing Company Act, the coverage of home insurance does not necessarily extend to cover this property.
There are differences in policy conditions regarding whether the extended responsibilities agreed in the Articles of Association are covered by fixed interior decoration insurance.
A resident in a housing company only insures his/her movable property, because the housing company's property insurance indemnifies damages to the building when an accident occurs. In single-family houses, semidetached houses and detached houses, the shareholder or owner may have to insure the building as well as the movable property.
The building insurance indemnifies damage to the structures according to the selected coverage level.
Different coverage levels and deductibles are offered in building and movable property insurances.