Fire, water, storm, burglary: contents insurance replaces everything in the flat at new value. Whether it pays depends on the value of the inventory. How to set the sum insured, which limits apply to valuables and which add-ons make sense.
In short
- Sum insured: €650 to €700 per square metre or an inventory list; underinsurance is cut proportionally.
- Valuables such as gold, jewellery and cash are capped at 20 to 30 percent of the sum, cash at around €1,500.
- Sensible: gross negligence covered, bicycle theft, natural hazards, glass only for conservatories.
- Costs: 60 square metres in a mid-sized city around €100 to €180 a year.
What contents insurance covers
It replaces movable items in the flat at new value for fire, lightning, explosion, tap water, storm from force 8, hail, burglary, robbery and vandalism after a break-in. Add consequential costs such as hotel, clearing up, lock replacement and transport. A fire in a three-room flat with €50,000 of contents is the case it is meant for; the stolen laptop is the case it is often bought for.
Does it pay?
Whoever lives in a shared flat with flat-pack furniture and a laptop can replace a total loss from the emergency fund. Whoever has a furnished family flat with kitchen, electronics, clothes, books and bikes has €40,000 to €80,000 of contents nobody pays from the reserve. From about €20,000 of contents value the insurance makes sense, from €40,000 clearly.
The sum insured
The flat rate is €650 to €700 per square metre of living space, with a waiver of underinsurance: at 80 square metres that is €52,000 to €56,000, and the insurer does not reduce a claim even if the contents are worth more. Whoever has expensive furniture, art or a lot of technology makes an inventory list and insures the real value. With a sum that is too low and no waiver, every claim is cut proportionally.
Valuables
Jewellery, gold, coins, watches, furs and art are capped together at 20 to 30 percent of the sum insured, without a safe often at €20,000 to €30,000, cash at €1,000 to €2,000. Whoever owns more gold or jewellery needs a recognised safe and an adjustment of the contract or a separate valuables policy. Photos, receipts and serial numbers ease the settlement.
Add-ons
Gross negligence: the forgotten candle or the tilted window during a burglary otherwise lead to a cut; good tariffs waive that. Bicycle theft outside the flat, often up to five percent of the sum. Natural hazards such as flooding, backflow and landslide, more important since the flood years and dearer depending on zone. Glass breakage only pays with a conservatory or glass facade. Power surge from lightning is included in good tariffs.
What is not in
Simple theft without a break-in, losing, forgetting, phone screens, water damage from an aquarium without a clause, damage to the building (the owner’s building insurance), the car. And items away from home, only with external cover for a few months, such as in a hotel or student room.
Try it yourself
Insurance CheckLife situation, job, family, possessions: which insurance you need, which is optional and which you can skip.Frequently asked questions
Is contents insurance mandatory for tenants?
No, no insurance except motor liability and health insurance is mandatory in Germany. The landlord may not demand it.
What about damage caused by neighbours?
If water comes from the neighbour, their liability pays or your contents policy, which recovers the money. What matters is being insured at all.
Does it cover the cellar and garage?
The associated cellar yes, the garage only with a clause and usually with a cap. Bikes in the cellar are covered if the room was locked.
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