House Contents Insurance

Valuables

These items are classed as „valuables“ under German House contents

Antiques older than 100 years (furniture is not included), art (e.g. paintings, drawings, graphs, sculptures, collagen), bonds & security papers, cash (also in electronical form), certificates, coins, furs, gemstones, gobelin tapestry, gold (all products), jewellery, medals, platinum, pearls, rugs (hand-woven), saving books, silver, stamp-collections & telephone cards.

With most cheaper plans valuables are only covered up to 20% of the insured sum, which might not be sufficient and needs to be seriously considered when valuating your contents.

A good example:

On taking out cover for 30.000€ with jewellery for 7.500€, you will have already underinsured yourself by 5% and this is not even taking other valuables into consideration! Unfortunately this is quite a common scenario and in the event of a claim an assessor would pick up on this neglect!

Valuables belong in a safe place!

Although better house contents insurance plans cover valuables that are not stored in a safe, German insurers still prefer their clients to keep all valuables in an approved, multi-walled safe that weighs at least 200kg or, even better, is mounted into the wall/ floor.

Should a valuable item disappear and was not kept in a safe (e.g. due to a fire or burglary) at the time of the incident, these are still covered yet will become subject to reimbursement caps. These are commonly as follows:

  • 1,000€ for cash
  • 2,000€ - 3,000€ for securities & saving books
  • 20,000€ for
    • coins
    • gemstones
    • gold
    • jewellery
    • medals
    • pearls
    • platinum
    • stamps

ERICON broker recommends:

Before valuating your total home contents please start with just the valuables and calculate the insured sum by multiplying this amount by five.