Household Contents Insurance
Household contents insurance (Hausratversicherung), though not mandatory in Germany, is necessary to cover the damage to or loss of the contents of your home.
When the contents of your home are damaged or lost due to storms, mains water, fire, theft, or vandalism, household contents insurance will indemnify you for such damages or losses.
When the contents of your home are damaged or lost due to storms, mains water, fire, theft, or vandalism, household contents insurance will indemnify you for such damages or losses.
In case you’re renting a furnished apartment, many landlords today insist on you having home contents insurance for tenants.
However, it’s important to note that fixtures and fittings that you don’t own but which are attached to the building are usually not covered under home contents insurance for tenants. This is because your landlord or house owner is responsible for them and would cover them under his/her own separate insurance policy.
Household Contents Insurance – Key Things to Know
Household contents insurance is designed to protect your personal belongings inside your home. Think of it as a safety net that covers everything in your house if it were turned upside down. This comprehensive coverage includes items such as:
- Furniture: Sofas, tables, chairs and other essential furnishings.
- Collectibles: Art, antiques, and memorabilia that may hold significant value.
- Clothing: Your wardrobe, including shoes, accessories and seasonal items.
- Electronics: Computers, televisions and other gadgets that are integral to daily life.
- Personal valuables: Jewelry, watches, and other items of sentimental or financial value.
Moreover, some policies extend their coverage to include built-in kitchen units and sports equipment, ensuring you have peace of mind for all your essential items.
Does the Insurance Cover Belongings Outside the Home?
A common question among homeowners is whether household contents insurance covers belongings outside the home. The answer is yes, but with certain limitations. Most policies provide coverage for items stolen or damaged outside your premises, such as in cases of robbery or loss during travel. However, this external coverage is typically capped at 10-15% of your total insured amount.
If you plan to leave your home unoccupied for an extended period (usually more than 60 days), it’s crucial to notify your insurer. Prolonged absences can increase the risk of theft, fire, or water damage, which may affect your coverage.
What Additional Coverage Should You Consider?
While household contents insurance provides substantial coverage, there are some additional protections worth considering:
Office equipment. If you’re self-employed and often work from home, it’s prudent to insure your office equipment separately. This can include computers, printers, and specialized tools that are essential for your work.
Window panes. If you live in a home with expensive window fixtures or have children who might accidentally break things, consider getting separate insurance for window panes.
Electrical surge protection. Some policies offer limited coverage for damages caused by electrical surges. If you own sensitive electronic equipment, this additional protection could be beneficial.
Is Bicycle Theft Covered?
Bicycle theft is a prevalent issue in Germany, especially in urban areas. Most household contents insurance policies include coverage for bicycles, provided they are secured with a lock. However, if your bike is particularly valuable (like high-end models or e-bikes), you may want to consider additional insurance specifically for your bicycle. This ensures full coverage in case of theft, damage, or loss.
How Are Premiums for Household Insurance Calculated?
The premiums for household contents insurance depend on the value of your possessions, the area you live in, and the level of benefits you wish to have. The size of your property also plays a key role in determining the premium.
In Germany, it costs around €650 per square meter on average to replace all household goods. If your home contains valuable items, it’s advisable to insure at least this amount to avoid the “Unterversicherungsverzicht” (waiver of underinsurance), which can reduce your claim payout if your total insured sum is too low.
How Long Is the Term for Household Contents Insurance?
In Germany, household contents insurance policies typically have terms of one, three, or five years. Once you select a term, cancellation before the term ends is usually not permitted. For greater flexibility, consider opting for annually renewable policies. This allows you to reassess your coverage regularly and switch to a better option if your needs change.
Please answer the following questions to help us find the best Household Contents insurance in Germany that best suits your needs and is available at the best price. Once we receive the questionnaire, we’ll contact you soon.
