What is an contents value meter?
The household contents value meter is a useful tool if you want to calculate the value of your household contents. This is recommended if you plan to take out household contents insurance. The Inboedelwaardemeter was created after a number of studies into the value of household contents of a large number of households in the Netherlands. This handy tool was created by the Dutch Association of Insurers. The contents value meter is a questionnaire about your age, income, family composition and the size of your home.
What do you use an contents value meter for?
The contents value meter can be used for two things. First, it is used when taking out a new home contents insurance policy. Second, the contents value meter is used when changing a current contents insurance policy.
To prevent underinsurance, you often need to fill out the contents value meter when taking out new insurance. The amount resulting from the calculation of the contents value meter is the insured amount and therefore the cost of contents insurance.
What is guarantee against underinsurance?
The contents value meter also provides an additional guarantee against underinsurance. This is usually for a period of 5 years. If you do not use a household contents value meter and you report the wrong amount to your insurer, this can turn out to be wrong in the event of a claim. If it turns out that the actual new value of your household contents is higher than the amount you reported, you are underinsured. You will then only receive partial compensation for the damage.
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What factors affect the contents value meter?
There are a number of factors that are considered in the calculation of household contents. These factors are: the age of the breadwinner, the composition of the household, the net monthly income of the breadwinner and the area of the house. All these factors are assigned a certain number of points. The total number of points is multiplied by an amount in euros. From this calculation comes an estimated value of your household contents.
However, points may be added. These points are added when you own any of the following:
- audiovisual computer equipment (above €12,000)
- Body jewelry (over €6,000)
- special possessions (above €15,000)
- tenant's interest (over €6,000)
What are special possessions?
Special possessions include: art objects (paintings, sculptures, etc.), antiques and musical instruments.
What is meant by tenant interest?
These are changes made by you to your rental property. Think of a new kitchen, new bathroom, a new floor. However, you must have incurred the costs yourself.
Who is the contents value meter for?
If you have a net monthly income above €4,850, you cannot use the contents value meter. Also if you have a living area of more than 300m2 you cannot use this tool.
How long is the contents value meter valid?
When you fill in the contents value meter you have 5 years guarantee. If you move house or after damage you have to fill it in again regardless of the last time you filled it in. The advantage of this 5-year guarantee is that you don't have to fill out the meter each time you make a new purchase.
What is the difference between a household inventory meter and a household inventory list?
Previously, a household inventory list was often used to calculate the value of your household contents. With this list, you literally check the value of your household contents (i.e. each piece of furniture separately). This is time-consuming work and there is a chance that you also forget furniture.
Nowadays, insurers often use the contents value meter. This tool is easy to use and saves you a lot of time. The contents value meter provides a guarantee against underinsurance and therefore it is a good alternative to the contents inventory list.
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