Household contents insurance covers all residents living in the insured home, including partners, friends, or roommates, without requiring policy changes when people move in. The policy protects all belongings inside the home, such as furniture, electronics, clothing, and valuables, against specific risks like fire, theft, and water damage.
Who is covered by household contents insurance?
Household contents insurance covers all residents living in the insured home. This includes partners, friends, roommates, and any other individuals residing there.
Are any changes needed when someone moves into the home?
No changes to the insurance policy are required when new people move into the home, as all residents' belongings are automatically covered under the existing policy.
What belongings does household contents insurance protect?
The policy protects the belongings inside the home, including furniture, electronics, jewelry, clothing, and other personal possessions.
What risks are covered by household contents insurance?
Household contents insurance covers the belongings against specific risks such as fire, robbery, burglary, utility water damage, storm, and hail damage.
Do shared household contents policies cover only individual belongings?
No, it is not currently possible to insure only individual belongings in a shared apartment. The policy covers all contents of the household collectively.
How should the insured sum be selected for household contents insurance?
The insured sum should reflect the total cost of replacing all residents’ possessions within the household to ensure adequate coverage.
Is property belonging to the landlord covered?
Property owned by the landlord, such as furniture provided in the home, is also covered.
What is not covered by household contents insurance?
Damage caused by malfunctioning appliances or electronics, normal wear and tear, and damage to the structure of your apartment or home (such as walls or floors) is not covered. Additionally, simple theft, locksmith or key replacement services, and damage occurring during a move are excluded unless the move was required due to an insured event and you have extended coverage.