Home-owner’s insurance covers damage to your house that cannot be attributed to wear and tear or inadequate maintenance. It also covers water damage and damage or injury as a result of fire. In addition, the insurance usually covers any liability you may incur for damage to another person or their belongings (liability insurance).
Home-owner’s insurance comes in many different varieties and at different prices. The terms and conditions decide what the insurance covers. If you do not own your own house or apartment, you do not need home insurance.
You can take out joint home contents and building insurance. If you own a house or an apartment in a jointly-owned property or a housing cooperative, the building will as a rule be insured by the cooperative/jointly-owned property. All you need is such case is a home contents policy. Ask the board of the jointly-owned property or housing cooperative about this.
