Whether or not you have a mortgage, the right choice for you is to insure your home for its true reconstruction cost. We’ll help you calculate that cost, so you can avoid being underinsured.
If the outstanding loan balance is lower than the damage you suffer, the bank will receive up to the amount owed, and the rest will be paid directly to you.
For example, if the damage amounts to €100,000 and your remaining loan balance is €40,000, the bank will receive that €40,000, while you will receive the remaining €60,000.