Compare Home Insurance in Germany

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What is Home Insurance in Germany?

Home insurance in Germany comes in two distinct forms that are easy to confuse. Hausratversicherung (contents insurance) covers the movable belongings inside your home, such as furniture, electronics, clothing and valuables, against risks like fire, water damage, storm and burglary. Wohngebäudeversicherung (building insurance) covers the physical structure of a property, so it is bought by owners rather than tenants. Renters typically need only contents cover, while homeowners often hold both.

These policies protect against common household risks and, for owners, against costly structural damage. Because the two products cover different things, knowing which you need is the first decision.

How the German market works

Germany has a large and competitive insurance market served by major insurers and direct brands, with the industry represented by the GDV (the German Insurance Association). Contents policies are usually priced on the insured sum, which is often calculated from your home's living area in square metres using a standard per-square-metre value, ensuring you are neither under- nor over-insured. Building policies are priced on the property's characteristics and rebuild value.

A key market feature is Elementarschäden, cover for natural hazards such as flooding, heavy rain, snow pressure and landslides. This is frequently sold as an add-on rather than being included by default, and after several years of severe flooding it has become a much-discussed gap in many households' cover. Providers such as HUK-COBURG, ERGO, VHV, Generali, AXA, Württembergische, DEVK and DA Direkt compete on price, cover breadth and service.

Benefits

Contents protection — Hausratversicherung replaces belongings damaged or stolen through insured events like fire, burglary and water damage.

Building cover — Wohngebäudeversicherung protects the structure itself against fire, storm and mains-water damage for owners.

Natural-hazard add-on — Elementarschäden extends cover to flooding, heavy rain and other elemental risks often excluded as standard.

New-for-old replacement — contents claims are commonly settled at replacement value rather than depreciated worth.

Additional risks — options can include glass breakage, bicycle theft and cover away from home.

How to choose

Decide first whether you need contents cover, building cover, or both, based on whether you rent or own. For contents, set the insured sum correctly, as under-insurance can lead to reduced payouts; the square-metre method helps avoid this. Compare what perils are included as standard and, crucially, whether Elementarschäden is part of the policy or an extra, given how significant flood risk has become in parts of Germany.

Check the excess (Selbstbeteiligung), any limits on high-value items, and whether cover extends to belongings temporarily outside the home. Look at claims service and reputation, not just price, and review conditions for security requirements that could affect burglary claims. Finally, confirm the contract term and notice period so you can switch or adjust cover when your circumstances change.

Leading providers in Germany

HUK-COBURG — a large insurer known for competitive pricing across household lines.

ERGO and Generali — major full-service insurers offering both contents and building cover.

VHV Versicherungen and Württembergische — established insurers with strong household and property products.

AXA — a large international insurer active across German home insurance.

DEVK and DA Direkt — value-focused and direct brands offering straightforward online cover.

What it costs

Contents insurance is relatively affordable, with typical annual premiums often ranging from around 55 to 260 euros depending on the insured sum, location, chosen perils and whether natural-hazard cover is added. Premiums rise with home size, higher-risk postcodes, lower excesses and broader cover. Building insurance costs more and depends heavily on the property's rebuild value, construction and location. Because pricing is individual, the figures here are typical ranges rather than quotes, and the total depends on the cover level you select.

Protections and regulation

Insurers operating in Germany are authorised and supervised by BaFin, which oversees their financial soundness and conduct. German insurance-contract law sets out policyholder rights, information duties and cancellation rules, and provides a withdrawal period on new contracts. The GDV supports industry standards, including guidance around natural-hazard cover. If a dispute arises, an independent insurance ombudsman (Versicherungsombudsmann) offers a free route to resolution before the courts. Policyholders should be aware of duties such as accurate disclosure and reasonable security measures, which can affect claims.

Common questions

Do renters need building insurance? No; tenants generally need only Hausratversicherung for their contents, while the owner insures the building.

Is flooding covered automatically? Often not; Elementarschäden for floods and heavy rain is usually a separate add-on worth checking.

How is the contents sum set? Commonly by living area in square metres times a standard value, which helps avoid under-insurance.

Can I settle claims at new value? Many contents policies pay replacement (new-for-old) value rather than depreciated worth.

Home Insurance in Germany — FAQ