House insurance – A protection shield for your home


Sjef Jens

House insurance is also known by the name hazard insurance or homeowner insurance. This insurance covers the home and the valuable belongings inside the home. Any damages caused to the home and the valuable belongings are compensated by this policy. House insurance has the characteristic features of a multiple line insurance policy since it consists of both property insurances and liability coverage. The policy takes into consideration the estimated replacement cost and fixes premiums accordingly. Damage caused by natural disasters such as flood, earthquake and nuclear wars are not covered by the policy. Anyhow, it is possible to purchase special insurance policy which will cover the loss caused by the above-mentioned factors.

The amount paid by the policy holder is called premium and it varies depending on the possibilities of the damages. If the house seems to be less prone to any kinds of damages only a minimal amount would be charged as a premium. For instance, the presence of fire station in the vicinity of the house, fire extinguishers and the like can significantly bring down the chances of your house catching fire. Therefore, it is more secured against fire making the premium lower.

Different categories of house insurance policies

Basic form of home insurance policy


This policy ensures proper compensations for the loss caused by eleven basic perils including lightning, windstorm, hail, vandalism, theft and the like. Valuable belongings are also offered coverage under this policy provided you mention about your belongings clearly in the policy. However, exceptions include damages caused by flood, earthquake and the like as mentioned above.

Broad form of home insurance policy

This policy provides coverage for other losses apart from the compensation made for the losses caused by the eleven basic perils. For instance, this policy will cover all the medical expenses required if your guests are injured while visiting you. You have the moral obligation to pay for the hospital expenses since the incident happened at your home.

Other divisions

There are other categories of house insurance policies including renter s insurance, premium house owner policy, condominium policy and older home policy which works almost like the first three policies mentioned in the previous paragraphs.

Responsibilities of the policy holder

It is the responsibility of the policy holder to immediately inform the insurance company about the damage in case of any unfortunate incidents. If you make any delay, it is likely that you will not get the compensation at the right time and you will have to wait for a long time to enjoy the benefits of the policy. The policy holder is expected to cooperate with the investigation process held by the insurance company. You should provide them with all the information about the insured house and the valuable belongings; in addition to that you should also explain in detail what exactly caused the damage.

When you are opting for insurance policy make sure that you are dealing with a well-reputed insurance company.

In case you are interested to

learn more

detailed information about different types of house insurance coverage, please check out GF\’s official website (did you know the term in Danish is

husforsikring d├Žkning GF


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