britaly00

I invite your opinions-
I recently bought my first apartment after several years of renting here. I am having a little refurbishment work done ~ a new bathroom with floor and wall.tiling and a small wall reconfiguration. Am wondering whether or not to get insurance for the apartment. in case anything goes wrong with water or even minor structural problems affecting neighbors. The apartment is.on 3rd and final floor of a 12 unit block. If I took out a policy it would probably be the only time I do.
thanks
mike

Pulaski

Are you talking just about liability insurance? ..... Do you not already have home insurance? .... Did you buy the apartment for cash? And if you bought with a mortgage loan, didn't the lender require insurance in the event that the building is destroyed or substantially damaged?

britaly00

yes, it was bought for cash, no mortgage and there is no other insurance. on it. I am thinking some liability insurance (included in a typical home policy?) might be a good idea in case something goes wrong during the (minor) building works and plumbing and wiring of new bathroom.

Pulaski

A very good idea ...... and to protect your investment, in the event of a fire (could easily start in another unit and spread), or other damage internal to your unit. I assume there is some sort of freehold-landlord who takes care of the shell and structure of the building, and will have insurance for the risks to the shell and struture.

I don't know about in Italy, but in my experience (UK & US) standard home insurance policies include some liability coverage.

modicasa

You'be be mad IMO to not take out buildings insurance for a flat in a block. not only for the damage events can do to your property, but also the damage you can do to others. It would cost about 200/300 euors a year, and is quite probably required by the terms of your condo. Flood the flat below and youll have a bill of thousands, so an insurance policy makes good sense.

britaly00

Thanks for feedback. Never having the need for such insurance before, what are the names I should be looking at? Maybe your own insurer is worth recommending...? thanks

modicasa

I use genertel online, but all the main car insurers also do buildings and contents, Genertel has free earthquake conver included. Or the post Office has a decent policy.

Sancho

Hi,

If it's a twelve-unit block then I think it has to be a legally-constituted condominio with an amministratore condominiale. Ask someone else living in the block, and if it is then talk to the amministratore. He/She'll be able to say if the other people in the block are insured for responsibilita civile, danni agli terzi etc, if so what it'll cost you to become part of their scheme, and whether you can sign up now to cover the present works.

37100

Any sensible condo will have building insurance, but as it covers communial property and not just personal, you cannot opt out. The condo votes. Majority wins. For the same reason, it cannot be extended to cover the poster's building work. We live in a 70's building where most families have had work down. Insurance is essential. Even if you only have one contractor with his own insurance, if anything happens, he could go AWOL.

modicasa

Any apartment building with more than 2 apartments on the same stairwell has to be a condominium by law....