Are the coverages in the building insurance policy sufficient?

Hello everyone,

I have now received the building insurance from the insurer for our terraced house that we bought as existing property. Since I do not know until the end which services should be included or whether the coverage is sufficient, I wanted to ask around here:
Covered are fire, lightning strike, overvoltage due to lightning, explosion, implosion, impact or crash of an aircraft, its parts or cargo (I don't want to be in the house then), tap water, storm/hail, and other natural hazards (flooding, backwater, earthquake, sinkhole, landslide, snow pressure, avalanches, volcanic eruption (there are none).
The insurance value is the sliding replacement value.
The deductible is €500 everywhere, except for: other natural hazards (such as flooding, etc.) at least €500, earthquake 10% of the insured amount.
--> regarding the last point I ask myself... isn’t that a bit too much deductible? With heavy rain events, something can happen.

One more question: for cancellation or switching, I have 1 month after receiving the documents. Is it possible to change the building insurance again at a later date, e.g. after one year?

Thanks for your assessment. Best regards.

With us, the deductible is €150, except for [Elementar], where it is €150 + 10%. So the same structure as with you. Yes, you can change your insurance like any other. You have to report damages from the last 5 or 7 years when switching; if there are too many, no other insurance will take you :p

if heavy rain is not explicitly mentioned, but flooding, storm, and hail are... can I assume that it is not included either? I need to call about that.

I just checked:

Residential building insured means the following described object is covered against damage caused by: fire (fire, lightning strike, explosion), water damage (pipe burst, frost) and storm/hail, avalanches, snow pressure, natural earth subsidence/landslide.

Natural hazards:
Also insured are damages caused by:
- Flooding of the insured property
- Backwater
- Earthquake
- Volcanic eruption

Heavy rain is implicitly included in flooding.