Household Insurance

What is Household Insurance?

Household insurance (Hausratversicherung) protects your house belongings. This means that household insurance is property insurance. It offers insurance protection for objects or things that are in your apartment or house and that are not permanently installed, e.g.

• electric devices
• consumer electronics
• furniture
• TVs
• valuables of any kind
• cash
• bicycles

Why is Household Insurance useful?

Household insurance is voluntary insurance in Germany offered by insurances. This insurance is recommended for everyone who owns things in the household because the resulting damages can quickly reach very high amounts. Insurance premiums depend on the value of items, as well as the scope of insurance. Household insurance helps you financially to buy new and repair damaged items in the household.

Three essential questions regarding household insurance are:

1. What does household insurance mostly cover?
2. What does household insurance mostly not cover?
3. What compensation does household insurance payout?

1. What does Household Insurance mostly Cover?

• fire
• lightning strike
• implosion
• explosion
• burglary
• robbery
• vandalism after a burglary
• storms from wind force 7 or 8 and hail
• electric overload
• damage caused by the penetration of water from a burst water and drainage pipe

2. What does Household Insurance mostly Not Cover?

• intentionally caused damage
• belongings of your subtenants
• otherwise insured items
• building components
• race bicycles
• motor vehicles of all kinds and their trailers
• aircraft and watercraft
• in case of events of war and civil restlessness

3. What Compensation does Household Insurance Payout?

• the repair costs for damaged household items
• reduced value for damaged but still fully usable items
• the replacement price for stolen or irreparably damaged household items, but this does not have to be the purchase price

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Household Insurance Expenses

The costs of household insurance depend on the risk and the scope of insurance, as well as the square meter of the flat. Contributions are customizable and may increase over time. As a rule, insurances calculate the premiums based on the value of the insured household contents and the risk of damage. An exact price can only be determined after an individual risk assessment by the insurance company. It is advisable to compare different offers to find the best conditions.

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