Should I purchase contents insurance for an apartment?
You purchase contents insurance to insure the belongings in your home. The moment you buy or rent an apartment, you will have to deal with a number of insurances. So it is also wise to take out contents insurance for an apartment, regardless of whether you buy or rent the apartment. What exactly is contents insurance and what is insured?
If you have bought or rented an apartment, you will naturally want to insure your belongings properly. With contents insurance, you make sure that your belongings, such as your furniture, appliances and clothing, are well insured in case of damage caused by fire or theft, for example.
Although it is not mandatory to take out contents insurance, we strongly recommend it. After all, your contents are often worth more than you think. You only find this out when you have to buy everything from scratch due to a fire or other unforeseen event. This is a major expense.
What is insured in your apartment with contents insurance?
With contents insurance, damage to your belongings in your apartment that are moveable is covered. This includes furniture, clothing, and possibly other valuables. A kitchen is usually not covered by contents insurance because it cannot be moved without causing damage.
Basically, insurance companies use the following rules to determine what is covered under a building or contents insurance policy:
- Building insurance: all parts of your home that you cannot take with you without causing substantial damage.
- Contents insurance: anything you can take, without having to demolish, without damaging anything.
Property insurance in an owner-occupied apartment is often arranged through the owners' association ( VVE ). In most cases, the owners' association provides buildings insurance for the entire building. In this way, not everyone has to insure their home separately. To be sure, check with your association whether this is the case for you.
Taking out household contents insurance? Calculate your premium!
What is not insured in your apartment with contents insurance?
Damage that was foreseeable is never covered, on any insurance policy. This can be damage due to overdue maintenance, for example. Damage caused by intentional acts is also not covered. Damage caused by earthquakes, floods, violence and atomic nuclear reactions are for also not covered on contents insurance.
Items that are in your apartment are insured with contents insurance. Do your belongings get damaged outside your apartment or do you lose them? Then in most cases this is not insured. You can take out additional coverage for this outside your apartment. With this, the belongings that are not in your apartment are still insured.
It is always wise to carefully review the terms and conditions when comparing insurance policies. This is because there may always be exclusions applicable to your contents insurance for your apartment. For example, cell phones or laptops may be excluded from coverage. In addition, the coverage area is important: does the coverage only apply to the Netherlands or worldwide? You can find this information in the policy conditions.
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