Home contents insurance

With home contents insurance, you insure yourself against damage to the belongings in and around your home. This can occur for various reasons: burglary, fire, water damage, vandalism. Not every home contents insurance policy covers all these causes. And not all your possessions are always or fully covered. Sometimes additional insurance is necessary, for example, for your smartphone or if you have expensive appliances or jewelry. For optimal coverage, you will need to take out additional insurance for these items.

Coverage

Determining the amount of home contents insurance you need is often difficult. Many of your possessions fall under your contents, such as furniture, clothing, and appliances. As a general rule, everything that can be moved is considered your contents. Everything that cannot be moved is considered “buildings”: items that are permanently attached to the home and therefore require insurance. Consider, for example, a luxury kitchen. Buildings insurance is mandatory for owner-occupied homes. Even if you rent, it’s wise to take out separate buildings insurance.

Home contents insurance coverage

The value of your contents can change, for example, if you buy new furniture. Over time, items can also decrease in value. It’s important to ensure you have the correct coverage value within your contents insurance. If you sustain damage and report it, many insurers will first check the actual value of your (complete) contents. If you’re insured for too little at that point, this is considered “underinsurance.” The damage you claim won’t be fully reimbursed. If you’re insured for more than your contents are actually worth, this is considered “overinsurance.” While you’ll receive compensation up to the actual value, you’ll have been paying more premium than necessary for a while.

Do you have questions or need help with taking out home contents insurance, or would you like to check together whether your current insurance still meets your needs?