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What is covered?

The owner of a building must ensure that his or her property is insured against fire. This cover is often incorporated into an all-in-one policy which also includes theft insurance. This type of insurance should not be disregarded.

However, it is important to fulfil the insurer's requirements with regard, for example, to security measures to be taken depending on the location and layout of the building.

It is also useful to keep purchase receipts and/or photos of objects which could disappear in a fire or be stolen. Of course, this documentation should be stored outside of your property, in a bank safe box, for example.

Another form of cover that the lender usually asks for (and which was compulsory until recent years, in order to be eligible for the tax benefits of having a mortgage) is payment protection insurance. For more information on this topic, see Loans - Loan-linked insurances and Loans - Loan tax return.

Finally, there is 'comfort' insurance, which is far from being a pointless luxury and is designed to maintain a certain standard of living. Examples of this type of insurance are civil liability insurance ("family civil liability"), income protection insurance, etc.