What is household insurance?

Have you ever completed an inventory of you home?

If not, it is a fascinating exercise. You will see that the value of the goods in your household is three times more than what you thought it was!

If you have done it, are you sure you are properly insured? For instance, if someone steals your new iPhone on the metro, will you be refunded for it? 

By the end of this short article, you will know exactly what household insurances are for, which terms to check and the options that have become essential now that smartphones are worth the same as computers! 

What is household insurance?

Household insurance covers damage caused to personal belongings, inside and outside your home. 

In the early hours, you wake up, your eyes are still half-shut from a good night’s sleep, you make you way to the kitchen to grab some coffee. There, you notice you MacBook is no longer on the table. Or, you are heartbroken to find out the wood from your vintage bookshelf gave way under the pressure of a water infiltration. Or else, a meteorite fell in the middle of your living room and your TV shattered into pieces. 

In each one of these situations (yes, even in the event of a meteorite or an emergency landing of a space vehicle), all you have to do if notify your household insurance, which will refund you shortly. 

In short, your household insurance will protect you from theft, deterioration and any other problem your personal belongings might encounter. 

What exactly does household insurance cover? 

It covers all movable personal belongings which are in your household. From your first watch to your Samsung Ultra HD, including your instant Polaroid and your precious Pléiade collection. 

Your belongings are insured at least against:

What areas and risks are covered by household insurance?

However, these coverages can be expanded to include more claims.

What type of theft is covered by household insurance? 

Generally, insurances distinguish between three types of theft. 

Break-and-enter

I return home after a nice weekend in Tuscany. I see, with dismay, the living room bay window shattered into a thousand pieces. If I am properly insured, no need to drown my sorrows in the Chianti bottle I had planned to age in my cellar! 

Every break-and-enter robbery in your home is covered by your household insurance. However, in order to be covered, there obviously need to be evidence of a break-in. 

Looting

Also called pilling sometimes, ransacking or raiding, it refers to any theft committed by violence or threat, from armed robbery to pickpocketing.

Based on your insurance policy, your insurance may or may not bear the costs, depending on where the theft occurred, in your home or outside it (for example, in the middle of the street). Upon signing your household insurance policy, you should find out about the details. Contact us and we will be able to support you throughout the process with your household insurance company. 

Simple theft 

You fell asleep and forgot to lock the door, a stranger shows up in your home and steals your phone from you. Or as you leave the metro, you realise your wallet is missing from your back pocket. 

In both cases, it is simple theft, which mean there was no physical nor material violence involved (no threat, no damage). 

In this case it is more complicated. Your best option is to be prepared to this possibility by taking out a full housing insurance, which specifically includes the “outside theft” option. It is a smart choice given the fact that:

  • Most thefts occur in public spaces or outside your home. 
  • The price of movable objects such as smartphones increase yearly. 

Either way, you will have to report the theft to the police.

Quick  

Quick tip: you can file a complaint for simple theft against an unknown person, online.

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