Understanding New Building Insurance: What It Means for You

We are launching a new building insurance product

At IDA Forsikring, we continuously update our insurance products to reflect better the realities we face.

Unfortunately, over the past few years, IDA Forsikring has experienced a significant increase in weather-related claims, and the cost of repairing home damage has risen. As a result, we are adjusting the premium and updating the terms of our home insurance to ensure a better alignment between price and risk.

What does this mean for you?

As mentioned, your premium will increase, and your policy terms will be updated. You can find the specific impact on your home insurance premium in the letter you received via e-Boks. The prices stated include taxes but exclude billing fees. You can read more about fees and charges at idaforsikring.dk/om-ida-forsikring/gebyrer-og-afgifter.

Over the past year, IDA Forsikring has adjusted premiums on selected insurance products for various reasons. We aim to be transparent about the reasons behind these changes. You can read more about the new pricing here.

Your selected insurance excess will remain unchanged under the new terms. The new home insurance policy retains the same coverage areas as your current policy, but the scope of coverage has been revised. These revisions include both stricter conditions and improvements. Overall, the changes are designed to better meet the expectations of today’s homeowners.

Examples of stricter conditions include more precise definitions of when frost damage to pipes or damage to external drainage systems is covered.

Examples of improvements include enhanced coverage for solar panels, coverage for homes built on screw foundations in the event of storm damage, and the option for disability-related home modifications in case of illness or accident.

You can view the key differences between the old and new building insurance policies here.

If you have a greenhouse or orangery, please note that under your current policy, it may be included in the total area of outbuildings. Under the new policy, it is always covered separately for up to DKK 15,000. If your greenhouse or orangery is currently included in the outbuilding area, this must be updated. Therefore, please inform us of the total area of outbuildings, garages, sheds, carports, and other similar structures, excluding the greenhouse or orangery.

Where can I read more about the new building insurance?

You can read more about the new building insurance policy at idaforsikring.dk/husforsikring.

Information about the previous building insurance policy is available here.

Do you wish to cancel your insurance?

If you do not wish to continue your insurance with us, please notify us before the changes take effect. The easiest way is for your new insurance provider to send us a cancellation notice. This notification from a new insurer is also required to cancel fire coverage if you have a mortgage on the property.