How do I know if I am insured for the right amount?
When you purchase contents insurance, you are insured for a certain amount. It is important that you are insured for the right amount. If you suffer damage, you obviously don't want to have to pay out only part of it.
Insurers take into account the maximum claim in insurance. This is the maximum amount you will be paid in the event of a claim. In case of fire, for example, your house can burn down completely in no time. In that case, the contents will be completely lost. It is therefore crucial for an insurer whether you are insured for €20,000 or for €50,000. If you are insured for too low an amount, you will only receive a partial payment for the damage.
What is meant by underinsurance?
Anything in your home that you can move is household effects. These include your closet, dining room chairs, your bed and television ect. Properly estimating the value of your contents is a very difficult task. You have to count everything and there is a big chance that you will overlook something. When damage eventually turns out that your household contents have a higher value than insured, you are underinsured. You will then only receive partial compensation for the damage. If your household contents are insured for €10,000, but the actual value is €20,000, you will be paid: 10,000 / 20,000 x the damage amount. So you will receive half of your damage.
Properly estimating the value of household contents is actually an impossible task. After all, you have to count everything from clothing to electronics to the accessories in the kitchen. If damage shows that the contents have a higher value than insured, you will only receive a portion of the damage. The payment is pro rata. If the household contents are insured for €25,000, but the actual value is €50,000, then in the event of damage you will receive: 25,000 / 50,000 x the damage amount.
How can you estimate the value of your contents?
When you want to estimate the value of your household contents, you can of course calculate everything yourself. However, this is a time-consuming task and you may overlook things. Therefore, it is better to leave the estimation to your insurance company. They can make an estimate based on your zip code and family composition. You can also easily make an estimate yourself with the household effects meter. This is a tool that calculates how high your insured amount will be. The advantage is that you can be sure you are not underinsured.
Taking out contents insurance
On our website, you can easily purchase contents insurance. You are also guaranteed to be insured for the right amount. We have developed a handy tool that can easily calculate your premium. For this we only need a few details from you:
- What is your family composition?
- What is your zip code and house number?
- Does your home have a thatched roof?
With this basic information, your premium will be calculated. In a further step, you can also choose to take out out-of-home co-insurance coverage. This way you know that laptops and tablets are also covered. In addition, a number of questions are asked to check whether you are entitled to an extra discount.
Never underinsured
Put together your own package
A wide range
We compare all insurers for you, saves time again
Help from our experts
Can't figure it out? Our experts are always ready to help you
We can be reached via chat, WhatsApp, phone or email
Questions? Contact us if you want to know more.
We are here today until 6 p.m.