House insurance, or residential insurance, is very important if you decide to keep your house or condo in your country of origin.It is also important to have it when renting or buying housing in Germany.
For more info about housing in Germany click here.
To make sure that your house is safely insured after your departure for Germany, there are a few facts that you should be aware of:
First, do not leave your residence empty for more than a few weeks. It invites thieves and vandals. Also, most insurance companies do not insure houses that have been left empty too long; it varies from one insurance company to another but a house empty for one whole year is generally regarded as neglected. Make sure you ask your own insurer about this before leaving.
Second, be aware that some insurance companies will discontinue your insurance if you rent your house, whereas others might insure the house but not the contents. Once again, talk to them before deciding what to do. We had to argue with our own house insurance company to get coverage for the building (but got nothing for the contents). We had to remind them that we had been their clients for many years and had not made any claims. In the end, what changed their minds was our threat to use another insurance company when we go back.
Third, there is the option of a "house-sitter". Once again, depending of the insurance company, they might go for it or consider it a "rental-in-disguise". Make sure that you and your insurer understand each other's point of view clearly about what is and is NOT covered.Your peace of mind depends on it.
Also, having a property manager to look after your property while you are away might help to ease your and your insurer's concerns about renting it to strangers.
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