Landowner Insurance presents a new concept for vacation properties

13. August 2020, 11:32

With its new holiday home concept, GEV Grundigentümer-Versicherung (GEV) is now offering a product package tailored to the protection of domestic holiday homes. The foundation is made up of home and contents insurance or a combination of both. Depending on your needs, additional modules such as elementary protection, glass protection and emergency aid can supplement the selected main insurance. The house and landowner liability insurance rounds off the holiday home concept.

Dr. Michael Salge, Chairman of the Management Board of GEV Grundigentümer-Versicherung, Hamburg

“As different as the locations and conditions of a holiday home can be, the dangers to which they are exposed are just as varied. That is why, with our new holiday home concept, we are now offering insurance cover tailored to the specific circumstances and individual needs, ”explains Dr. Matthias Salge, CEO of GEV.

Indispensable: homeowners insurance

As a rule, holiday properties are not inhabited continuously and damage, such as a burst pipe or a cable fire, is often discovered late or not at all. Measures to reduce damage can therefore often not be initiated or only after a delay.

Consequential damage therefore often causes considerable costs, which the holiday concept covers. However, technical building systems such as antennas or satellite dishes as well as awnings and canopies are included in the insurance cover.

Securing the inventory: the household contents insurance

Holiday properties that have been unoccupied for a longer period in particular have an increased risk of burglary. If the worst comes to the worst, the GEV holiday home concept’s contents insurance replaces items stolen or destroyed by vandalism, but also pays out in the event of robbery, fire or burst water pipes. Damage caused by smoke or gas detector false alarms is also covered.

The GEV holiday home concept is supplemented by other special services that are included in both residential building and household contents insurance in addition to covering classic property risks. This includes, among other things, protection in the event of grossly negligent damage and loss of rent for the holiday property, the assumption of additional costs for replacement accommodation or the return journey as well as travel costs to the insured location in the event of a claim.

Optional additional components are home and landowner liability insurance, which also insures water damage caused by oil tanks in the basement and construction work. An elementary protection. It offers protection in the event of floods, earthquakes or, especially interesting in the mountains, in the event of snow pressure or avalanches.

The glass protection module covers damage to both building and furniture glazing. And the immediate aid module provides pest control, the removal of wasps, hornets and bee nests, and pays for key services in an emergency. (dr)

Photo: Shutterstock

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