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!

To receive a full reimbursement in form of the replacement price you are strongly advised to keep any valuables in an approved multi-walled steel cabinet or even better, a mounted safe, either should weigh at least 200kg. Should any of the valuables disappear while not in one of the above-mentioned secured storages (e.g. due to a fire or burglary), these are still covered, however become subject to reimbursement caps.
These are generally as follows

  • 1000€ for cash
  • 2.000€ - 3000€ for securities & saving books
  • 20.000€ for
    • coins
    • gemstones
    • gold
    • jewellery
    • medals
    • pearls
    • platinum
    • stamps

ERICON recommends:

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