Household insurance

Maik Sammer

Household insurance

Water damage is often unexpected.

Even burglars announce their visit in advance rarely. Protect yourself against major unexpected burdens with home insurance.


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More information about Household insurance

What does everything belong to household goods?

Most of the time you only think of furniture, carpets, valuables, TVs or even the stereo system, simply put, everything you see at first glance.

But that’s not enough to cover his “wealth” accumulated over the years. Crockery, cutlery, clothing and linen, records, CDs, children’s toys, computers, consumables (such as groceries) and in the basement also stores a lot (for example, the inflatable boat for the holidays, the lawnmower, the garden furniture, etc.).

Often the sum insured is clearly underestimated.

Valuables in household insurance

Valuables are part of the insured household contents. These include cash, certificates, securities, jewelery, gems, pearls, stamps, phone cards, coins, medals, gold, silver or platinum, fur, hand-knotted rugs and tapestries, works of art and antiques.

These valuables are within the scope of your home contents insurance without further agreement to max. 20% of the insured sum insured. An increase of the compensation limits is possible against contribution surcharge. In addition, compensation limits apply for cash of up to € 1,000, certificates and securities of up to € 2,500 and jewelry of up to € 20,000, if these valuables are only under a simple lock (eg drawer).

Antiques

Under antiques in the sense of the conditions of a home contents insurance one understands things, which are older than 100 years and no furniture.

If a 200-year-old cupboard is used as a piece of furniture, it is not considered antique, but is normally covered by household contents insurance. If this cabinet has a value of e.g. 30,000 EUR, it must of course be taken into account accordingly in the sum insured.

What will be replaced in the event of a claim?

A household contents insurance replaces the replacement price of destroyed or lost items in the case of damage requiring compensation. So you get the purchase price of an equivalent new thing and not just the value at the time of the loss. Therefore, one speaks in the household insurance from an insurance to new value.
In the case of damaged items, the repair and, if necessary, additional depreciation are paid. However, the price for a new purchase must not be exceeded.

However, valuables (such as cash, jewelry, etc.) are usually limited to max. 20% of the agreed sum insured limited. Furthermore, for

Cash EUR 1.000, –
Certificates, savings accounts, other securities EUR 2.500, –
Jewelery, gemstones, pearls, stamps, coins, things made of gold or platinum EUR 20.000, –

maximally compensated. If you want to insure higher sums, an individual consultation is indispensable.

An insurance claim often not only causes pure material damage, but also incurs additional costs, such as

Cleanup, movement and protection costs (for example clearing up the damage site)
Damage avoidance or loss reduction costs
Transport and storage costs of the insured household as a result of a claim
Hotel costs (if your apartment can not be used due to a claim in any reasonable way).

The aforementioned costs are usually limited to 10%, hotel costs to 1% of the agreed sum insured.
In addition, for individually agreed inclusions such as bicycle theft, overvoltage damage as a result of lightning, etc., the individually agreed sums insured will be compensated in the event of damage. Underinsurance is not audited for these particular inclusions.

underinsurance

If, at the time of the claim, the actual insured value (which corresponds to the cost of a new purchase of the entire household contents) is higher than the agreed insured sum of the household contents insurance, the insurer may also assert any underinsurance for the partial damage. This means that the damage is only compensated in the same proportion as the sum insured relates to the insurance value.

Example: If the insured value is EUR 100,000 and the agreed insured sum is only EUR 50,000, the policyholder will only receive EUR 2,500 if the damage amounts to EUR 5,000.

Scope of the household contents insurance

The conclusion of a household insurance is useful for anyone who has an apartment or a house. The household contents insurance covers all damages as a result of fire, burglary, tap water and storm cover. It covers all household items (furniture, curtains, rugs, etc.) and items intended for household use (such as washing machines, dishes or cutlery) or consumption (for example, the contents of the pantry).

5000/5000
Zeichenbeschränkung: 5000
Valuables are only included in the protection to a certain extent. Also occupational equipment and work tools, such. Tools, a PC or a laptop are insured if they are not used exclusively for professional purposes and are not merchandise. Also insured are plants, sports equipment and car accessories (but no spare parts), private antenna systems, medical aids, such as medical equipment. Wheelchairs, lawnmowers and even pets.

The insurance cover also includes items that belong to third parties if they are in the home of the policyholder. Excluded from this regulation, however, is the household contents of a subtenant. All items, such as fitted kitchens, fitted wardrobes or sanitary facilities, which are permanently connected to the building, must be named upon application so that they are included in the insurance cover.

The household contents insurance replaces damage caused by: fire, fire, lightning, explosion or crash of an aircraft, burglary, robbery and vandalism after burglary, tap water (water that leaks from broken pipes or equipment, eg dishwasher, washing machine, with the pipes are connected). Likewise “improper” exit from hot water and steam heating systems, installations of air conditioning, heat pumps or solar heating systems, storm from wind force 8, hail (only for new contracts, from VHB 92) have been caused by the damage.

In addition, the insurer bears the costs incurred as a result of damage. These include: Soot or fire damage, repair of building damage caused by burglary or costs for the elimination of tap water damage. It will also be the hotel cost, if the apartment is temporarily no longer habitable after damage i.d.R. taken over for a maximum of 100 days. The amount of reimbursement amounts to a maximum of 1% of the sum insured per day. In addition, costs for transport and storage of the insured home contents (maximum 100 days) are covered.

Certain risks can be insured beyond the standard. This includes e.g. the expansion of performance against surge damage after a lightning strike. This can be useful if many expensive electrical appliances are present in the household. Or the insurance also protects bicycles parked outdoors, locked bicycles. The value of the existing bicycles is the basis for determining the compensation limit.

If damage is to be insured by leaking aquariums or waterbeds, a separate enclosure is usually required.

The glass insurance needs households with double glazing or large and expensive glazing (for example glass walls), noise protection windows and glazed roofs. The glass insurance is insurable against multiple premium.

The so-called elementary insurance reimburses damages due to flooding, earthquakes, subsidence, landslide, snow pressure and avalanches. These risks can also be insured. The household contents insurance replaces the proven damage in full, however, no more than the specified sum insured. In case of damage, the necessary repairs are taken over.

All items that have been lost or destroyed are replaced with the new value. Under new value is the replacement price of the insured items in mint condition to understand. If damaged or destroyed items are no longer used after damage, the insurer will replace the price that would be obtained if the items were sold.

Against what damage is my household contents basically insured?

The household insurance offers insurance against damages

Fire (fire, lightning, explosion, impact of an aircraft of its parts or cargo)
Burglary, vandalism after a burglary, robbery and predatory extortion
Tap water (water that comes out of the tap water system of the apartment or house)
Storm (wind force 8 or more) and hail.

These insured dangers can not be insured individually, therefore one speaks also of a connected household insurance.

What other risks can be insured?

With many providers, you also have the opportunity to insure against elemental damage, such as earthquakes, landslides, floods and avalanches.
In addition, there are other ways to expand the scope of insurance individually:

Inclusion or increase of the compensation limit of surge damage due to lightning
Increasing the compensation limit for valuables
Inclusion of bicycle theft
Including simple theft of laundry and garden furniture
Inclusion of burglary in motor vehicles
Inclusion of water leakage from waterbeds and aquariums
Inclusion of damages due to power failure at the frozen or frozen food
Inclusion of damage by implosion
Inclusion of natural damage (eg earthquake, flood)

What is not insured?

Damage caused intentionally or through gross negligence.
Damage caused by war events and civil unrest.
Damage caused by splash or cleaning water or leakage from aquariums or waterbeds (for example, if a bucket overflows and contaminates a carpet).
Damage caused by storm or hail caused by doors or windows not being properly closed (eg if the balcony door was open and rainwater enters the living room in the event of heavy storms, but is insured if a windshield has been damaged by the storm) only then the rainwater came into the apartment.
Damage caused by simple theft (for example, removal of property without having broken into the apartment or even theft of a trick)
Seng damage not caused by fire (e.g., damaged sofa due to cigarette burn)
Damage due to short circuit and overvoltage on electrical equipment
glass breakage

Some providers have improved their insurance conditions, some of the above. Exclusions are then included again with good insurers.

How high should you insure yourself?

Almost all insurers offer a so-called flat-rate calculation based on living space. Insofar as at least EUR 650.- insured amount per square meter of living space is used, the insurers waive the so-called objection of possible underinsurance.

If valuables are in your household: As a rule, the valuables are only insured up to a maximum of 20% of the sum insured.

Where is my household contents insured?

Place of insurance is the apartment, which is named in the insurance policy. This also includes ancillary rooms such as cellars or laundry rooms, which are located on the same property. In addition, there is also insurance coverage for things that are in garages in the immediate vicinity of the insured apartment.

But home contents insurance also offers insurance coverage via the so-called external insurance, if you on vacation. Under current insurance conditions, a temporary stay abroad covers insurance coverage worldwide. In most cases the compensation will be 20% of the insured sum, max. 10.000, – EUR limited.

claims settlement

If the policyholder becomes aware of any damage, he is obliged to do everything in his power to minimize the damage. It must be e.g. stolen passbooks or checks or accounts are blocked. This also means that defective doors or windows are initially makeshift, but relatively burglar-proof repaired or a defective lock is replaced immediately.

It should also be noted that the damaged items are canceled for a visit. Of course, any damage after notification to the insurance company immediately in writing.

The insurer may request all necessary information to clarify the cause of the loss. At every burglary or robbery the police is to be informed. In addition to the formal notification, the police and the insurance company must be provided with a complete list of all stolen items, including invoices, if possible. In order not to have to start with the listing in the event of damage, it is advisable to create a directory in which the household items are described. Photos and invoices should complement this collection.

For items whose value is difficult to determine, one should obtain expertise.

If the formula “square meter living space x EUR 650, -” has been applied to the premium calculation, i.d.R. ensures that the insurer waives the “objection of underinsurance” in the event of a claim. This means that the company does not check whether the household goods were insured with the correct amount, but pays the compensation in the amount of the damage incurred. The household insurance replaces the proven damage in full, but not more than the specified sum insured. In case of damage, the necessary repairs are taken over. All items that have been lost or destroyed are replaced with the new value. Under new value is the replacement price of insured items in mint condition to understand.

If damaged or destroyed items are no longer used after damage, the insurer will replace the price that would be obtained if the items were sold.

The maximum limits of compensation for cash, certificates, stamps, gold, coins and jewelery are limited by maximum compensation limits. These limits vary by provider. Compensation limits may increase if valuables such as cash, jewelry, gems or pearls, stamps but also coins, gold and platinum parts and certificates (including passbooks and securities) are secured in a vault.

5000/5000
Zeichenbeschränkung: 5000
Valuables are only included in the protection to a certain extent. Also occupational equipment and work tools, such. Tools, a PC or a laptop are insured if they are not used exclusively for professional purposes and are not merchandise. Also insured are plants, sports equipment and car accessories (but no spare parts), private antenna systems, medical aids, such as medical equipment. Wheelchairs, lawnmowers and even pets.

The insurance cover also includes items that belong to third parties if they are in the home of the policyholder. Excluded from this regulation, however, is the household contents of a subtenant. All items, such as fitted kitchens, fitted wardrobes or sanitary facilities, which are permanently connected to the building, must be named upon application so that they are included in the insurance cover.

The household contents insurance replaces damage caused by: fire, fire, lightning, explosion or crash of an aircraft, burglary, robbery and vandalism after burglary, tap water (water that leaks from broken pipes or equipment, eg dishwasher, washing machine, with the pipes are connected). Likewise “improper” exit from hot water and steam heating systems, installations of air conditioning, heat pumps or solar heating systems, storm from wind force 8, hail (only for new contracts, from VHB 92) have been caused by the damage.

In addition, the insurer bears the costs incurred as a result of damage. These include: Soot or fire damage, repair of building damage caused by burglary or costs for the elimination of tap water damage. It will also be the hotel cost, if the apartment is temporarily no longer habitable after damage i.d.R. taken over for a maximum of 100 days. The amount of reimbursement amounts to a maximum of 1% of the sum insured per day. In addition, costs for transport and storage of the insured home contents (maximum 100 days) are covered.

Certain risks can be insured beyond the standard. This includes e.g. the expansion of performance against surge damage after a lightning strike. This can be useful if many expensive electrical appliances are present in the household. Or the insurance also protects bicycles parked outdoors, locked bicycles. The value of the existing bicycles is the basis for determining the compensation limit.

If damage is to be insured by leaking aquariums or waterbeds, a separate enclosure is usually required.

The glass insurance needs households with double glazing or large and expensive glazing (for example glass walls), noise protection windows and glazed roofs. The glass insurance is insurable against multiple premium.

The so-called elementary insurance reimburses damages due to flooding, earthquakes, subsidence, landslide, snow pressure and avalanches. These risks can also be insured. The household contents insurance replaces the proven damage in full, however, no more than the specified sum insured. In case of damage, the necessary repairs are taken over.

All items that have been lost or destroyed are replaced with the new value. Under new value is the replacement price of the insured items in mint condition to understand. If damaged or destroyed items are no longer used after damage, the insurer will replace the price that would be obtained if the items were sold.

Against what damage is my household contents basically insured?

The household insurance offers insurance against damages

Fire (fire, lightning, explosion, impact of an aircraft of its parts or cargo)
Burglary, vandalism after a burglary, robbery and predatory extortion
Tap water (water that comes out of the tap water system of the apartment or house)
Storm (wind force 8 or more) and hail.

These insured dangers can not be insured individually, therefore one speaks also of a connected household insurance.

What other risks can be insured?

With many providers, you also have the opportunity to insure against elemental damage, such as earthquakes, landslides, floods and avalanches.
In addition, there are other ways to expand the scope of insurance individually: