Why should you include the foundation in your home insurance policy?
The foundation is the base of your home. If the foundation becomes damaged or cracks, it must be repaired. Sometimes the foundation is even completely unusable and must be replaced. The costs for this can be quite high. To ensure you’re covered, you can include the foundation in your home insurance policy when you purchase it.
Is the foundation automatically covered under a home insurance policy?
With some insurers, the foundation is automatically covered under a home insurance policy. However, this is not the case with all insurers. It is therefore wise to carefully review your insurer’s policy terms to determine whether you need to insure the foundation separately. If your home is damaged, you probably won’t think of the foundation right away. Unfortunately, the foundation can also sustain damage, for example, due to a fire or explosion. By including the foundation in your home insurance policy, you can avoid the sky-high costs of repairing or replacing it.
Foundation not included in the reconstruction value index
Homeowners insurance takes into account the replacement cost of your home. The replacement cost is the amount needed to rebuild your home exactly as it is. To determine the replacement cost of your home, you can use the replacement cost calculator. However, the foundation is not included in the reconstruction value calculator. If the foundation were to be damaged, a new foundation would need to be built when reconstructing the home. With most home insurance policies, you can therefore insure the foundation as well, for an additional premium.
Take out home insurance through Alpina
When you purchase home insurance for your property, you can choose whether to include the foundation in your coverage. You can use our online calculator to get an estimate of your monthly premium. At Alpina, we not only offer the best coverage but also the most competitive premiums. That way, you can be sure you’ll never pay too much for your home insurance.
Our insurance specialists are happy to advise you if you need it. You can reach us by phone Monday through Friday from 8:00 a.m. to 6:00 p.m. at 088 – 6883700. You’re also always welcome to send us a message via chat, WhatsApp, or Messenger. We’ve compiled a list of the most frequently asked questions about home insurance —who knows, your question might already be on the list!
See also:
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