What is a contents value meter?
The household value meter is a useful tool if you want to calculate the value of your household contents. This is recommended if you are planning to take out household contents insurance. The household value meter was created after a number of investigations into the value of household effects in a large number of households in the Netherlands. This handy tool was created by the Dutch Association of Insurers. The content value meter is a questionnaire about your age, income, family composition and the size of your home.
What do you use a contents value meter for?
The content value meter can be used for two things. Firstly, it is used when taking out a new household insurance policy. Secondly, the content value meter is used when changing a current content insurance policy.
In order to avoid underinsurance, you often have to fill in the contents value meter when taking out a new insurance policy. The amount resulting from the calculation of the content value meter is the insured amount and therefore also the cost of a content 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 content value meter and you give your insurer the wrong amount, this can have a negative impact in case of damage. If, in the event of a claim, the actual new value of your possessions turns out to be higher than the amount stated, you are underinsured. You will then only be reimbursed for part of the damage.
What factors influence the contents value meter?
There are a number of factors that are taken into account when calculating the household effects. These factors are: the age of the breadwinner, the composition of the household, the net monthly income of the breadwinner and the surface area of the house. A certain number of points is allocated to each of these factors. The total number of points is multiplied by an amount in euros. This calculation results in an estimated value of your household effects.
However, points may be added. These points are added when you have one of the following:
- computer audiovisual equipment (above € 12,000)
- Jewellery (over € 6,000)
- special possessions (above € 15,000)
- tenant's interest (above € 6,000)
What are special possessions?
Special possessions are: art objects (paintings, sculptures etc.), antiques and musical instruments.
What is meant by tenant's interest?
These are changes you have made to your rental property. For example, a new kitchen, new bathroom or 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 of more than €4,850, you cannot use the Content Value Calculator. 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 a 5-year 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 do not have to enter a new purchase for your household contents every time.
What is the difference between a contents value meter and a contents inventory list?
In the past, a household effects inventory list was often used to calculate the value of household effects. 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 may also forget furniture.
Nowadays, insurers often use the contents value meter. This tool is easy to use and saves you a lot of time. It guarantees against underinsurance and is therefore a good alternative to the contents inventory.
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