Flat Insurance and Homeowners Insurance
Flat insurance is necessary to indemnify you for loss of, or damage to your possessions. Included are all belongings contained in your home, such as furniture, clothing, collectibles, sports equipment, valuables and personal computers. Fixtures and fittings attached to the building need to be insured by the owner of the house, either the landlord or by yourself.
The coverage includes the risks of fire, burglary, storm damage, breakage of window panes, water damage, and vandalism. Some policies also include limited cover for damage caused by electrical surges.
Bicycle theft is a problem in Austria. Additional insurance should be purchased for bicycle theft and is especially valuable. Some insurance tariffs include coverage for bicycle theft, but this is by no means universal.
If you are self-employed and normally work from home, you must insure your office equipment separately.
What type of insurance do I need?
I will rent or buy a flat / an apartment in a multi-family house.
You will need a basic flat insurance covering fire, storm, tap water, theft, robbery, catastrophes, and including private liability insurance.
I will rent a house.
You will need to talk to your landlord. Ask him if the house itself is insured or not. If yes, you will need a flat insurance only. If no, you will have to take out a complete homeowner's insurance.
I will buy a house.
You will need to take out a complete homeowner's insurance.