What is a valuables insurance?
With contents insurance you can be sure that your possessions are insured against damage in the event of fire or theft. However, when you have many valuable items, normal household contents insurance is not enough. You will only be reimbursed for part of the value of your possessions. So if you have a lot of antiques, jewellery, art objects or musical instruments, it is smart to take out valuables insurance.
What do we mean by valuables?
Valuables are understood to be various types of items. Valuables include antiques, art, high value collections, expensive jewellery, musical instruments or expensive computer & electronics.
What cover does a valuables insurance offer?
You have two options if you want to insure your valuables:
1) You can take out household insurance and include your valuables in the cover
2) take out valuables insurance
A valuables insurance covers more damage than a contents insurance. A valuables insurance can be seen as an extra coverage on the contents insurance. You are also insured for damage and theft outside your home. Often there is a maximum amount that can be paid out for the damage.
Usually, you are insured with valuables insurance against:
- Loss
- Theft
- Damage
- Destruction
What is not covered with cost insurance?
Not all damage is covered by a valuables insurance. Most insurers apply a number of exclusions such as:
- Damage due to own fault
- Intentional Damage
- Damage during rental
- Damage during quality reduction
- Damage caused by cleaning, processing or repair
- Damage caused by e.g. flooding, acts of war, earthquake or nuclear reaction
- Theft from an unlocked room without forced entry
Please note that the coverage of the cost of living insurance may differ from one insurer to another. Always check the conditions of your policy.
What do I need to consider when taking out valuables insurance?
When you want to take out a valuables insurance, you have to pay attention to a number of things. You need to know the value of your belongings. You do not want to be underinsured. That is why it is smart to have a valuation report made. Many insurers value the items on the basis of purchase receipts and statements from jewellers. If you find a recognised appraiser too expensive, you can also calculate the value of your belongings yourself. This can be done with a handy tool, namely the contents value meter. This tool guarantees that you are not underinsured.
Please note: you can only take out valuables insurance in combination with contents insurance.
What about the concurrence of insurances in the case of preciousness insurance?
In some cases, home contents insurance and valuables insurance can overlap. Valuables are for instance also partly covered by a contents insurance. If your valuables are damaged by fire, this damage is therefore covered by both insurance policies. Insurers have therefore agreed that in such situations the specific insurance takes precedence over the general one. Damage caused by fire to your valuables is therefore covered by the valuables insurance.
How do I compare different home contents insurances?
You can easily compare different household insurance policies at Inboedelverzekering.nl . Make sure you have your details to hand. You have to answer a number of questions about your personal situation. The calculation module will do the rest for you. You can compare the premiums of the various insurers.
You can apply for household insurance right away if you wish. If you have any special requirements, please mention them so that we can submit the application to the right insurer.
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