Mandatory and optional Insurances

There are a bunch of insurances which are offered for property owners.  A homeowner insurance (Wohngebäudeversicherung) is obligatory required from banks for your mortgage. If you are buying an apartment in an apartment building this insurance is included in the auxiliary costs.  Normally this insurance does not cover natural hazards (Elementarschäden). Such an additional insurance policy should be added if …

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