Home contents insurance: What you need to pay attention to when taking out a policy


Lerato Khumalo

Fortunately, in many cases, home contents insurance will cover theft or burglary – provided it has been taken out carefully.

Whether it’s bicycle theft, burglary or bag snatching: in all of these cases, a high-performance home contents insurance policy will compensate the victims financially. However, it is important that policyholders pay attention to a few key things when taking out the insurance.

According to the Association of Insured Persons (BdV), it is essential that consumers answer the insurer’s application questions correctly when concluding the contract. If they do not do this, the insurance benefit can be reduced or even denied in the event of a claim.

The square meter method is generally used to calculate the insured sum. According to this calculation, insurers provide a flat rate of cover for household contents – usually between 600 and 750 euros per square meter. According to the BdV, this leads to reasonable results.

Alternatively, policyholders can also determine the value of their household goods individually. This can be useful, for example, if a large house contains only a few valuable items or a small apartment is full of valuable art and high-quality furniture.

If you want your bikes to be protected not only when they are locked in your basement at home, but also when you are out and about, you should make sure to include this extra. Often, an additional clause is required for this in your home contents insurance, which usually results in a small surcharge on the insurance premium. Read here what is typically covered in a home contents insurance policy.

Please note: Even with this additional insurance, bicycles are often only protected against theft up to a certain percentage of the insured sum. If you have particularly high-value bicycles, you should make sure that the insurance cover is sufficiently high.