Household insurance

What is household insurance?

Household insurance is insurance that covers and replaces damage to your household effects (contents, upholstery and furniture). Such damage can be caused by fire, theft or water damage, for example. The sum insured and the exact coverage can vary depending on the insurer. With some insurance companies it is possible to increase the sum insured or to take out separate additional insurance for valuables.

What does household insurance cover?

A household insurance policy covers damage to your property caused by fire, theft, lightning and/or water damage. Insurance companies often distinguish between basic cover, where the insurance only covers damage not caused by your own fault, and all-risk cover, where damage caused by your own fault can also be compensated. In the first case, you can think, for example, of broken electrical appliances caused by lightning or property damage caused by theft. In the second case, you can think of damage because you dropped something yourself.

The limits of household insurance

Household insurance covers a large part of the damage to your property, but there are limitations. For example, the value of an heirloom is difficult to determine, which makes it difficult to be adequately compensated in the event of a claim. Coverage for jewellery is limited: Jewellery is often only insured between €3,000 and €6,000, depending on the insurer. The financial value of jewellery can increase quickly. Moreover, jewellery not only has a financial value, but also an emotional value. Emotional damage caused by loss of or damage to possessions such as gifts or heirlooms is not insured.

Insurance in combination with a safe deposit box

By storing valuables in a safe deposit box, you ensure that they are protected against loss, theft or damage by fire. Since your valuables which you store in a locker with CitySafes are insured up to € 45,000 as standard, optionally up to € 150,000, they are very well insured. This can be particularly attractive for valuables for which you would otherwise have to take out additional insurance.