Home insurance

All our properties have been insured with real estate insurance. The real estate insurance covers the building as well as any fixed structures and furnishings of the building. It does not, however, cover any damage to the resident’s movable property possibly caused by a fire, leak or vandalism, for example. Any destroyed movable property and other expenses caused by temporarily residing in another apartment or storing property elsewhere, for instance, can only be covered for by taking personal home insurance for the apartment.

Home insurance is meant for covering the resident’s movable property in the apartment. Movable property refers to regular home and leisure items that are in daily use, such as furniture, dishes, clothes, jewellery, home appliances and leisure equipment. It is usually required to take other, specific insurance for valuable items, such as paintings and collections of value.

Home insurance usually also covers movable property stored in the building’s storage space and other storages that do not belong to the apartment building.

Home insurance can be a combination of home contents and personal property insurance, liability insurance and legal expenses insurance. If the resident causes any damage to the building’s structures or appliances out of negligence or accidentally, they may be liable for damages. In such cases, the resident may seek compensation from the liability insurance attached to their home insurance.

There are many different types of insurance available, ranging from a simple fire insurance all the way to all-encompassing security insurance. When taking out home insurance, it is recommended to clearly find out what the insurance actually covers. If you already have insurance, make sure that it is valid. Also remember to notify your insurance company about any changes in your housing situation.

From the beginning of year 2017, the terms and conditions of the tenancy agreement require the resident to have a valid home insurance.

We offer our residents discounted prices for home insurance from our cooperation partners.

Learn more about insurance benefits for Lumo residents