How is home contents insurance premium calculated?
Home contents insurance is essential to safeguard your possessions. Think about your furniture, electronics, clothes and home accessories. All of your contents combined will soon have a high price tag. How valuable your contents are will affect your contents insurance premium. Several factors can affect the amount of the premium. We explain how the premium of your household contents insurance is calculated.
How is contents insurance premium calculated?
Every household has a different premium for contents insurance. The different between premiums can vary greatly. This is due to a number of aspects:
- The price tag of your contents: the more valuable your possessions are, the higher your premium will be. Calculate your own contents.
- Type of coverage. The more risks that need to be covered, the higher the premium.
- Material of the home: the material of the home affects the premium. The risk of fire, for example, is much higher with a thatched roof than with a house with tiles.
- Location of home: actually, the risk of burglary in Amsterdam is much higher than in rural Friesland. The higher the risk of burglary, the higher the premium.
- Excess level. You almost always have to pay a deductible when you have damage. So the damage is only covered once it exceeds the deductible. The higher the deductible, the lower the premium and vice versa.
- BORG certificate. If you can show that your home has a BORG certificate or the police mark 'safe living', you can often get a discount on your premium. This shows that your home is properly secured against burglary.
Contents value
The contents value is the new value of all your belongings in your home. It is important to calculate it properly. If you give a lower amount, your risk may not fully cover all the damage. You will then pay part of the cost yourself. To calculate your household contents value correctly you can use the household contents value meter. This often provides a guarantee against underinsurance for a certain period (often 5 years). You can avoid having to report it to your insurer for every purchase.
Do I have to pay my home contents insurance premium monthly?
Yes, you pay the premium for your household insurance per month via direct debit. If you prefer not to pay monthly, you can also adjust this. With most insurers you can choose to pay quarterly, half-yearly or annually.
Taking out household contents insurance? Calculate your premium!
Options to compare premiums on your household insurance policy
To compare contents insurance premiums yourself is a huge time-consuming task. Every insurer has different terms and conditions. In addition, the policies must also be similar in content and coverage for you to compare them properly. A low premium does not immediately mean poor coverage, and a high premium does not automatically mean the best coverage. In order to easily compare premiums, we at inboedelverzekering.nl have a handy calculation tool. With this tool you get a quick overview of the different premiums. So you can easily compare the premium of a household insurance. If you have any questions about this or if you can't figure it out, you can always contact us by phone.
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.