The building
The named residential building, permanently attached components and, depending on the policy, further building accessories are insured.
Property · rebuilding & repair
Residential building insurance: protect the building itself.
Fire, an escape of water or severe weather can damage the fabric of a property. Residential building insurance protects the building—not automatically its contents and not automatically against every natural hazard.
Building, not contentsAssess replacement valueCheck natural hazards
Why this policy exists.
A building is often a major asset. The policy is intended to absorb agreed repair, restoration and ancillary costs following specified insured events.
Clearly named causes
Cover is linked to agreed hazards such as fire, escape of mains water, storm and hail—not every conceivable loss.
More than repairs
Depending on the policy, clearance, demolition, protection or time-limited loss-of-rent costs may be included.
Typical benefits and decisive limits.
Good protection depends on suitable hazards, accurate building details and adequate compensation rules.
Typical cover
- Fire, lightning and explosion within the agreed scope
- Certain damage caused by the escape of mains water from insured systems, as defined in the policy
- Storm and hail under the applicable conditions
- The building, permanently attached components and named accessories
- Policy-dependent costs such as clearance, demolition or loss of rent
Points to check
- Flooding, sewer backup or backflow, earthquakes or snow pressure generally require natural-hazards cover.
- Movable furniture and personal belongings generally fall under household contents insurance.
- Wear, inadequate maintenance and uninsured causes are generally excluded.
- Floor area, use, construction type, outbuildings and technical equipment must be stated correctly.
- Safety and maintenance duties may affect benefits.
Who should review this cover?
The form of ownership and the way the property is used determine who holds the policy and what additional risks exist.
Homeowners
Anyone who owns a residential building generally bears the financial risk of repair and rebuilding themselves.
Check the owners' association
Condominiums often have a shared building policy. Its scope and the individual owner's duties should be understood.
Record use correctly
Letting, vacancy, commercial portions or alterations may change the risk and the required policy information.
Illustrative example
A burst pipe affects the building and its contents.
An insured water pipe bursts. Walls, screed and permanently installed components are damaged; these losses may fall under residential building insurance. Damaged furniture, by contrast, generally belongs under household contents insurance.
Illustrative example only — not personal advice and not a guarantee of cover, benefits or price.How MB Finance supports you.
We record the building and its use, compare relevant conditions and support changes and the contractual claims process.
Floor area, construction, use, outbuildings and technical equipment are captured systematically.
Core hazards and natural-hazards cover are considered separately and classified clearly.
Compensation rules, cost items, excesses and exclusions are set side by side.
We assess whether the building details and agreed modules still fit the current property.
Extensions, renovation, vacancy, letting or new equipment can be reported in good time.
After a loss, we help with documentation, notification and communication with the insurer.
Related policies for your property.
The building, movable possessions and liability are separate risks and each requires the appropriate classification.
Next page
Continue to legal expenses insurance.
The next page explains which areas of law can be insured, why existing disputes are excluded and how the modules fit together.
Context, sources and notice
Cover is determined exclusively by the selected policy, policy schedule and insurance conditions. Benefits and loss scenarios mentioned here are examples, not a guarantee of payment.