What is a household contents valuation meter?
The household contents value calculator is a handy tool if you want to calculate the value of your household contents. This is recommended if you’re planning to purchase household contents insurance. The household contents value calculator was developed following a number of studies on the value of household contents in a large number of households in the Netherlands. This handy tool was created by the Dutch Association of Insurers. The household contents value calculator is a questionnaire about your age, income, family composition, and the size of your home.
What is a household contents valuation tool used for?
The household contents valuation form can be used for two purposes. First, this form is used when taking out a new household contents insurance policy. Second, the household contents valuation tool is used when making changes to an existing household contents insurance policy. To avoid being underinsured, you’ll often need to fill out the household contents valuation tool when taking out a new policy. The amount resulting from the calculation using the household contents valuation tool is the insured amount and, therefore, also the cost of the household contents insurance.
What is underinsurance protection?
The household contents valuation tool also provides additional protection against underinsurance. This coverage typically lasts for 5 years. If you do not use a household contents valuation tool and report an incorrect amount to your insurer, this could have negative consequences in the event of a claim. If, in the event of a claim, it turns out that the actual replacement value of your household contents is higher than the amount you reported, you’ll be underinsured. In that case, you’ll only be reimbursed for a portion of the loss.
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What factors influence the household contents value index?
There are a number of factors taken into account when calculating the value of household goods. These factors are: the age of the primary breadwinner, the composition of the household, the primary breadwinner’s net monthly income, and the size of the home. A certain number of points is assigned to each of these factors. The total number of points is multiplied by an amount in euros. This calculation yields an estimated value of your household goods.
However, additional points may be added. These points are added if you meet any of the following criteria:
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audiovisual computer equipment (over €12,000)
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body jewelry (over €6,000)
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valuable possessions (over €15,000)
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tenant's interest (over €6,000)
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What are special assets?
Examples of special possessions include: works of art (paintings, sculptures, etc.), antiques, and musical instruments.
What is meant by “tenant’s interest”?
These are changes you have made to your rental home. Examples include a new kitchen, a new bathroom, or new flooring. However, you must have incurred the costs yourself.
Who is the household contents valuation tool for?
If your net monthly income exceeds €4,850, you cannot use the household contents value calculator. You also cannot use this tool if your living area exceeds 300 m².
How long is the household contents valuation certificate valid?
When you fill out the household contents valuation form, you receive a 5-year warranty. If you move or have suffered damage, you must fill it out again, regardless of when you last filled it out. The advantage of this 5-year warranty is that you don’t have to report every new purchase for your household contents each time.
What is the difference between a household property valuation report and a household inventory list?
In the past, a household inventory list was often used to calculate the value of household belongings. With this list, you literally go through each item of furniture to determine its value. This is time-consuming, and there’s a chance you might forget some pieces of furniture.
Nowadays, insurers often use the household contents valuation tool. This tool is easy to use and saves you a lot of time. The household contents valuation tool provides protection against underinsurance and is therefore a good alternative to the household inventory list.
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