Building insurances become more expensive again
The stormy times of the last years have far-reaching consequences. Not only do you cause global tragedies, people die and landscapes are destroyed. They also cause very mundane damage to property. Storms and floods result in covered roofs, flooded rooms, damaged masonry and destroyed property components.
Our customers are also affected. Numerous damage treatments have been carried out by us in the last few months.
Losses are on the rise
The losses have increased enormously in the sum. It's not just the homeowners who are affected and have to incur high cleanup costs. Insurers also complain about extremely high claims payments in the field of homeowners insurance.
Threat of a new wave of cancellations of building insurances ?
Whether again many owners in the next weeks a notice of termination of your building insurances receive or a threat of a notice – if not on new, more expensive policies is changed – as in the spring of this year ( Ergo threatens 120.000 customers with notice") remains to be seen. It is understandable that insurance cover must become more expensive if the premiums are no longer sufficient to pay for insured damage. In our opinion, however, it depends on the detailed procedure on the part of the insurer. Here you can often and clearly see how much the insurer values its customers.
Premiums for building insurance policies rise
In the last days already some large insurers announced that their premiums for building insurances must be raised between 20 and 30%. In addition, insurers also try to offer customers new, cheaper policies. Here we advise caution. Unfortunately, the favorable premium is almost always at the expense of service quality. Why else would an insurer also offer a contract at a lower price if the insurance coverage actually has to become more expensive ?
Adjustments in Domcura concept low
We have insured about 90% of our building insurance customers in a TOP condition concept of Domcura AG. Also these exclusive concepts had to be adjusted already in the last year in co-operation with the insurance carriers in the premium. Insurers within the concepts have also been exchanged. This has allowed insurers to avoid contract cancellations. The quality of insurance coverage has never been softened with all the changes – in contrast to many other building insurers.
Domcura has announced that the average premium increase will be only 10%. So compared to the market average, less than half. At least a little consolation. The respective height of the premium adjustment is made thereby also dependent on the past damage history. Damage-free contracts are therefore less expensive than contracts that are already "burdened" by damages. The adjustment notifications are sent out by Domcura a few days before the respective main due date.
Premium reduction through deductibles
In this case, each customer is offered the possibility of reducing the new (increased) premium by approx. to reduce 25%. This means that neither the broker nor the customer has to take action themselves and look for ways to keep the high-quality insurance cover affordable.
That's what we call customer-oriented behavior.
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