Household contents insurance is extremely important protection for your own home. This offers financial security in the event of unforeseen damage. A variety of risks that affect household contents are covered by this insurance: This includes damage caused by theft, fire, water and other natural hazards.
The sum insured is a central issue in household contents insurance. This represents the total value of the possessions in the home. The amount of the insurance sum should be carefully selected so that the lost property can be replaced in an emergency. A detailed inventory of household goods, including valuables such as jewelry, etc., is essential.
In the event of damage, household contents insurance comes into force. The contract regulates the scope and conditions of insurance coverage.
Depending on the product or tariff, different things are sometimes insured. Natural damage such as floods or landslides can optionally be insured.
When it comes to underinsurance, underinsurance waiver is a relevant concept. Lost valuables will be fully reimbursed by the insurance in the event of damage. It still makes sense to check the sum insured regularly.
In addition, household contents insurance not only necessarily covers material damage, but also often offers financial support in the event of burglary or theft, for example. If cash has been stolen, it can (partially) be refunded. However, there are often limit amounts that are written down in the contract.
Sometimes the insurance provider also requires a deductible. This often makes the insurance cheaper, but at the expense of reimbursement from the insurance company in the event of an emergency. You always have to be aware of this if you have a low deductible.
It is also important to note that in the event of gross negligence, insurance coverage may be limited or even canceled altogether. That’s why it’s important to be vigilant and always follow security measures in the home, such as locking the doors.