Residential property managers renewing insurance for apartment owner associations.
Coverage
Core property insurance for the shared building fabric
WEG building insurance
WEG building insurance protects the common property against major insured damage such as fire, tap water, storm, hail, and optional natural hazards.Program fitWEG building insurance
- Fire, lightning, explosion, tap water, storm, and hail damage to the insured building.
- Common building components such as roof, facade, stairwells, basements, fixed installations, and shared technical systems.
- Additional costs such as demolition, cleanup, movement, loss mitigation, and sometimes loss of rent depending on wording.
Who this is for
Ingo separates WEG object insurance from the property manager's own business risk, so owners and managers can make cleaner decisions.
WEGs reviewing sums insured, deductibles, exclusions, and premium increases before the owners' meeting.
Buildings with modernization work, mixed commercial units, older pipework, or repeated water claims.
What to watch
WEG insurance decisions need to be understandable for owners while still being precise enough for underwriting, claims, and renewals.
Underinsurance can become visible only after a severe claim, especially after years of construction inflation.
Water damage frequency, old pipes, flat roofs, and vacancy can materially change underwriting appetite.
Owners need clear explanations of deductibles, exclusions, claim history, and why a cheaper quote may be weaker.
How Ingo reviews it
A clear review turns policy wording, object data, claims history, and owners' meeting decisions into practical options.
Review the policy schedule, building values, construction type, claim history, and current renewal premium.
Prepare a market submission that explains the property, loss prevention, maintenance, and modernization measures.
Compare offers by wording, deductibles, insured costs, natural hazard options, and claims handling quality.
Review checklist
Bring these materials to a broker conversation so the review can move from policy labels to concrete terms.
- Current building policy and latest renewal invoice
- Declaration of division, address list, year built, units, and commercial share
- Claims history for at least five years
- Information on roof, pipes, heating, facade, basement, and recent renovations
Common questions
Is WEG building insurance mandatory?
German WEG law expects appropriate insurance for the common property at replacement value. The exact scope and limits should be reviewed against the building and the owners' risk appetite.
Should natural hazards be included in the building policy?
Often yes, but availability, deductibles, and pricing depend on the location and flood or heavy-rain exposure. The decision should be prepared clearly for the owners' meeting.
Review WEG insurance before renewal pressure starts.
Compare policy wording, deductibles, exclusions, and object data before the next owners' meeting.