Rising living costs and persistent pressure on household budgets are forcing families to reassess their spending. In times when building financial reserves is more difficult, having a reliable safety net is crucial. Home insurance represents a sensible tool for protecting against unexpected expenses.
Protecting your property and home with insurance is a prudent way to safeguard against unforeseen costs.
Slovak households are facing a challenging economic reality in 2026, as the costs of food, energy, and housing continue to climb. Many families are finding it harder than ever to build savings, or are unable to save at all. This environment underscores the importance of financial protection against unexpected events.
Smart Savings, But Don’t Cut Coverage
As households look for ways to reduce expenses, some may consider canceling insurance policies. However, experts caution against this move, emphasizing that insurance isn’t an unnecessary expense. Instead, it provides crucial protection against significant costs associated with home repairs or rebuilding after a disaster or severe weather event, potentially running into the thousands of euros.
“The probability of needing to repair damage in an insured apartment or house is increasing year after year. Looking at a period of four or five years, our experience shows this risk is already in the double digits,” says Silvia Nosková Illášová, spokesperson for insurance company KOOPERATIVA.
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Kooperativa Apartment owners most frequently deal with water damage from leaks, burst pipes, or appliance malfunctions.
Common Homeowner Claims
According to KOOPERATIVA statistics, apartment owners most often file claims related to water damage – from leaks caused by neighbors or faulty appliances like washing machines and dishwashers. Short circuits in electrical appliances, which can lead to fires, are also a frequent issue.
Homeowners, meanwhile, are more likely to experience risks associated with unpredictable weather: flooded basements, roof damage from high winds, and destruction of gardens, sheds, and pools. Extreme weather events and storm activity, increasingly linked to climate change, are on the rise.
Foto: freepik
Kooperativa Home insurance policies can also include coverage for household pets.
Rising Repair Costs – Factor That In
Why is insurance particularly important in 2026? The cost of materials and repair operate continues to increase. Analysts estimate a further rise of 6 to 7 percent this year. Even with insurance, your existing policy may not cover the full cost of repairs or rebuilding. If you insured your home five years ago and haven’t updated your coverage, you may be underinsured, meaning the insured value doesn’t reflect the property’s current market value.
“We advise our clients to always insure their property at its current value. A practical solution is to agree on automatic indexation, which ensures the policy is updated annually without requiring a visit to the insurance company,” explains Silvia Nosková Illášová.
For comprehensive protection, KOOPERATIVA’s Bezstarostný domov (Carefree Home) product covers both the property and its contents under a single policy. In addition to the home itself and its furnishings, you can also insure the garden, pool, garage, fencing, and exterior insulation, as well as belongings stored at another address.
TIP: Pet Insurance Add-On
Did you grasp that home or property insurance can also include coverage for pets? This is a practical option for dog or cat owners who want to be protected against the cost of injury to their four-legged companion. Up to four animal family members can be insured under a single policy.
