Apartment and life insurance – why should you remember it? A guide for owners and investors

Why do Poles and migrants often fail to insure their homes?

According to market data, up to 50% of homes in Poland do not have any insurance, and in the case of liability insurance in private life – only one in ten people have it. This is mainly due to:

• lack of awareness of the risks,
• The “it won’t happen to me” belief,
• Or simply a desire to cut costs.

Meanwhile, the damage can be enormous – from fire to flooding to the effects of unforeseen accidents involving children, bicycles or… shopping carts in the parking lot.

👉 Check out our range of apartments and houses for sale in Wroclaw and learn how to secure them properly.

How much does it cost to insure an apartment in Wroclaw?

Prices are lower than many assume:

✅ Apartment worth 500 thousand zlotys – policy costs about 330 zlotys a year

✅ Apartment worth 1 million zlotys with equipment for 100 thousand zlotys and personal liability – about 860 zlotys per year.

The amount of insurance depends on:

• The value of real estate and movable property,
• floor, square footage and location,
• scope (only walls? + movables? + OC?).

Is it expensive?

Owners are often surprised to learn that the cost of insuring an apartment or house averages 400-1000 zlotys a year – or about 30-80 zlotys a month. This is a small price to pay for peace of mind.

What to look for in the general terms and conditions of insurance (T&C)?

Not every policy gives the same thing. You have to read carefully:

• coverage – does it include, for example, electrical surges, flooding due to a neighbor, fire, hurricanes, lightning strikes?
• exclusions of liability – for example, negligent inspections of installations can be grounds for denying payment,
• Whether it’s named risk insurance (only specified cases) or all risk (everything not excluded).

Tip:

The most favorable policies for homeowners and investors are all-risk policies. The difference in price compared to a regular policy is usually small.

Liability in private life – why is it worth it?

It’s a policy that protects you and your family in everyday situations:

• A child scratches a luxury car in a parking lot,
• Flooding your neighbor’s apartment,
• A dog knocks over a passerby on a walk.

The cost? OC up to PLN 100,000 is about PLN 100 per year, and up to PLN 300,000 – about PLN 200 per year and protects the whole family.

What about investors in Breslau and flippers?

Does it pay to insure an apartment during renovation and quick resale?

Definitely yes!

• You can buy insurance even for a short period (3-6 months).
• After selling your apartment, you can terminate the contract and recover the unused portion of the premium.

What about renovation companies?

If you are an investor yourself and have a team, it is important that they have their own third-party liability. If you invest regularly, it is worth taking out an annual policy for investments and business.

Insurance for a rented apartment – who should pay?

• The owner of the apartment should insure the walls and furnishings, as well as take out third-party (e.g., neighbor) liability insurance.
• The tenant should have his own personal liability – it then protects him and the landlord from the consequences of, for example, flooding.

What else should I pay attention to when insuring my apartment?

• Update the sum insured every year, especially after equipment purchases or renovations.
• Don’t insure your apartment only for the amount of the loan – its value increases and the balance of the loan decreases.
• After the damage, report it immediately to the insurer, collect invoices and receipts. If you can’t live there, many policies cover the cost of renting a replacement unit for up to a year.

Why deal with an advisor?

With so many “stars” in the T&Cs, it’s easy to make a mistake. Your agent will guide you through the entire process:

✅ will count the real value of the property (will do a “walk through the apartment in your head”),

✅ will select a policy tailored to your needs,

✅ will ensure that in the event of a loss, there will be no problems with payment.

Looking for an apartment for investment or personal use in Wroclaw?

👉 S ee our current listings of apartments for sale in Wroclaw

And take advantage of Atlant Estates’ free advice on:

• property purchase,
• obtaining a mortgage,
• Housing, home and investment insurance.

Do you have any questions? Write to us – we will be happy to advise you!

We make sure that your money and future are safe – both in Poland and abroad.