Under/over insured? Use this checklist!

Being properly insured means that in the case you suffer covered damage, you will be reimbursed what you are entitled to. Therefore, it is important to regularly check your home and contents insurance.

With this checklist you can easily determine whether your current insurance provides the right coverage.

Did you take out your home and/or contents insurance more than 5 years ago?
Have you renovated in the meantime?
Have you bought new furniture and/or electronic equipment in the meantime?
Did you include an automatic indexation in your home and/or contents insurance?

If you answered “yes” on 1 or more of these questions, then it is time to check your home and/or contents insurance!

Why now?

If you took out your home and/or contents insurance more than 5 years ago, you probably may have purchased new contents (furniture and/or electronic equipment) or even carried out a renovation. This means that the value of your house and/or contents has increased.

In case you did not include an automatic indexation at the time, it means that you are most likely underinsured at the moment.

Automatic indexation

The value of a house can increase and decrease. Regardless of whether the home and/or contents insurance was taken out 5 or 20 years ago.

Automatic indexation helps to prevent underinsurance. However, it is also possible that the value of your home has decreased (for whatever reason). That means that you are over insured and paying too much. The insured amount is higher than the actual true value of your home and/or contents, which means that in the event of an incident, the insurer will not reimburse more than the actual value of the damage suffered.

Thus, reasons enough to check what your coverage looks like at the moment.

Make a calculation HERE in just 3 minutes or contact us or your broker.

We or your broker are happy to advise and help you with a no-obligation recalculation of your premium.