Which insurances are indispensable when building a single-family house?

We will soon start building our single-family house in Saxony and would like to know from you which insurances are indispensable. We are financing with Allianz, the builders' liability insurance is offered with a 50% discount in connection with the financing, and the fire shell construction insurance should be included free of charge. Unfortunately, we don't have any figures yet; maybe you can already tell us what to expect. Is it sensible to take out a construction performance insurance and how much would it cost? The house will be built at a price of approximately 500,000 euros including the land, 400,000 euros will be financed, if that is important. Thank you for helpful tips

We have had consultation talks with several insurers and were always told that the following are definitely mandatory, partially required by banks, or recommended:

[*
Builder's liability insurance
[*]Fire and shell insurance -> was included in our residential building insurance. We took out everything in one package.
[*]Construction all-risk insurance -> was already included in our construction contract. Maybe for you too?


As already mentioned, we took out a package with the above insurances together with liability, household contents, residential building, and legal protection insurance from one provider. The contracts start as soon as the house is finished. Because of this, we got another 15% off everything. Maybe Allianz offers something similar for you too.
Important (!), remember elemental damage and at least take out residential building and household contents insurance with the same insurer, otherwise they will end up blaming each other.

Furthermore, I would personally recommend the following:


[*]Term life insurance for you and possibly your partner.
[LIST]
[*]We insured half of the financing per person. Should one of us die, the survivor can still keep the house. It costs about €8 per person if you compare well online.


[*]Builder’s legal protection insurance


[*]It must be weighed carefully. We decided against it because we are part of a huge new construction project by Volksbank, which is building our house several times and the entire project is very well planned and coherent. Our general contractor is also locally very reputable. Even all banks congratulated us on the general contractor during the financing talks. Without these prerequisites, we probably would have taken out the insurance.


[*]Disability insurance can also be considered in this context, but that really depends on each person’s individual decision.