Always wanted to know what the differences are between the coverage of a home insurance policy? When taking out a home insurance policy you can choose from two cover types: Basic and All-risk. Macheath has listed the differences for you.
With the basic insurance you are covered for the following:
- Theft / burglary
- Storm (from wind force 7)
- Oil, smoke and soot
- Water damage (from water pipes, etc.) and precipitation
- Freezing water pipes
- Collision / collision
- Fall trees, cranes and pile drivers
The most comprehensive insurance offers coverage against any ‘external calamities’. Any sudden and unforeseen damage caused by, for example, a storm is thus covered in principle. But you are also insured for ‘accidents’. If you let a candle fall over and damage your carpet, you can reclaim money from the insurance for that. However, the policy has many exceptions. Damage caused by your pets to your own belongings is usually not reimbursed. What you can and cannot declare differs per household insurer. Some insurers do offer 3 or more different cover types. Read more about the most common coverage here.
What is the difference between basic and all-risk?
In this overview we have summarized shortly before you what the differences are between the reimbursements from the basic household insurance and the all-risk coverage.
From 2.50 euros extra per month you already have all-risk coverage.
Difference in home contents insurance coverage: an example
Imagine you drop a bucket of soapy water on your parquet. With a basic cover this is not reimbursed, because the water does not come from a water pipe. If you have all-risk coverage, you can claim the damage. Even if your child makes a nice drawing on the couch, this is not covered by the basic cover. With all-risk coverage you can declare the costs for cleaning your bank.
Big difference most expensive and cheapest
The difference between the cheapest and the most expensive household insurance is large. It can amount to more than 100 euros per year. How much do you pay for your household insurance? Perhaps you can insure your household effects at a lower premium. Curious? Discover what you can save. Compare household insurance 5.00 avg. rating ( 96 % score) – 1 vote