Belongings and Insurance – how do they relate? Belongings are elements of your property that can be covered under your insurance policy. There are, however, several different scenarios and you need to understand in detail what’s covered and what’s not under your current or future insurance policy:
- Contents of your home: These are typical belongings that one can find in many homes. These are typically covered under standard insurance policies and there is a coverage limit for an aggregated value of your total content. Examples of standard property objects are appliances, clothing, electronics, household goods and furniture. Should you have special expensive items e.g. a wine collection, jewelry, etc., – these are often not covered under a standard insurance policy.
- Valuable objects / belongings: These are more expensive, rare items that often require an optional insurance that can be purchased in addition to a standard home insurance policy (also called insurance rider). Examples of such items are expensive furs, jewelry, objects of art, wine collections, expensive watches etc.
- Bicycles and sporting equipment: These are belongings that are often covered by a standard home insurance policy but sometimes need additional coverage. These items are covered if they were lost/damaged outside of your home (e.g. bicycle theft while you left it locked on a street).
- Belongings inside your vehicle: Often your personal belongings in a car are insured through your home insurance policy against, for example, car break-in and theft of your personal belongings.
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