This insurance covers your loan against the outstanding balance in the event of death.
Your spouse or heirs will become the owners of the building, without having to pay the remaining monthly instalments (capital and interests) in your place.
It also represents a security for the family (spouse, children) since, in the event of a death, the repayment of the home loan is covered by the insurance (fully or partly, depending on the terms and conditions chosen).
You can also divide the capital between the two persons, taking into account that:
Tax deductible amount of the outstanding balance insurance:
|Taxpayer||Increased ceiling (up to 30 years)||Over-increased ceiling (31 to 49 years, slice multiplied by the number of years)||Over-increased ceiling (50 years and more)|
|no children||3,000 €||240 €||7,800 €|
|with 1 child||3,672 €||294 €||9,547 €|
|with 2 children||4,344 €||347 €||11,294 €|
|with 3 children||5,016 €||401 €||13,041 €|
|with 4 children||5,688 €||455 €||14,788 €|
This insurance guarantees the building, and the purpose is to repay the cost or to reconstruct the home after a loss.
In the case of a rental, the law considers that the tenant is responsible for the loss, unless he can prove otherwise.
Water damage – lightning – storm – hail – electrical hazards – theft – attempted theft – vandalism.
Since 1992, the law also provides for damage caused by a terrorist attack or an industrial dispute.
Due to this extension of risks covered, fire insurance is now called “home” insurance.
Civil liability can generally be included in the same policy.
It offers the owner the guarantee that he will be compensated over 10 years following the completion of works, in the event of construction problems.
If it is not included in your “home” insurance policy, take it as a separate insurance.
In effect, it covers all damages for which you could be liable and which are not included in the fire, storm, water damages and other clauses of your “home” insurance.