Why is home insurance important?

Home insurance protects both your home and belongings from unexpected damage. It’s not just a mandatory expense—it’s an essential part of responsible living and provides peace of mind when accidents happen.

What does the housing company’s insurance cover?

YH Kotien properties are insured against damage, but residents should note that in the event of a fire or water damage, the property insurance only covers the structure of the apartment and fixed furnishings. To receive compensation for personal belongings, residents must have their own home insurance. The property insurance also does not cover water damage caused by personal items. For example, damage caused by a broken aquarium, waterbed, or similar furniture is only covered through the resident’s own home insurance.

Different types of home insurance – which one is right for you?

There are various types of home insurance for different life situations, so it’s worth considering which model best suits your needs. Depending on the coverage, home insurance can protect against a wide range of incidents—broken windows, water damage, theft, and many other unexpected events. A comprehensive policy may also cover valuable items like eyeglasses or phone screens.

Liability insurance, often included in home insurance, covers damage caused by the resident to another person or their property. For example, if a child accidentally breaks a neighbor’s window while playing ball, liability insurance would cover the repair costs.

Always review the details of home insurance options with your insurance provider.

When should you update your home insurance?

Review your home insurance whenever your life situation changes. For example:

• Moving in with a partner or separating
• Having a child
• Purchasing valuable items like electronics or an electric bike

Also, if you start working remotely and bring valuable work equipment home, your insurance needs may change. In such cases, check with your employer about their policy on insuring work equipment.

Important things to remember:

• Home insurance is mandatory for all YH Kotien residents.
• When moving to a new apartment, your home insurance does not transfer automatically—you must update it with your insurance company.
• Pets are welcome in YH Kotien homes. Since pets can sometimes cause damage, check whether your insurance covers pet-related incidents.
• Review your deductible—this is the amount you must pay yourself in the event of a claim. If the damage is less than the deductible, you won’t receive compensation.
• Always read the insurance terms carefully, especially the exceptions and limitations, so you know what is and isn’t covered.

Did you know YH Kotien residents are covered by group insurance?

Accident Insurance:

Covers medical expenses caused by accidents. Valid 24/7 on the housing company’s property, in shared areas, and during community volunteer work.

Key Insurance:

Covers costs related to lost keys, lock replacements, and door opening services.
Note: This insurance is only valid during the tenancy. Claims must be made within one year of losing the key.

Interruption of Living Insurance:

Covers costs caused by temporary inability to live in the apartment.
Covers all permanent residents listed in the resident register, regardless of age, and volunteers working during community events.

You can find your housing company’s insurance broker on the resident portal.