What items are covered in a valuables insurance policy
You can insure all items that have a special value, especially jewelry, watches , works of art, furs with a valuables insurance. However, some companies also include other valuable items such as expensive sports equipment, musical instruments, collections, precious stones, antiques, electronic devices, or even expensive fashion accessories or designer furniture in this list. A common exclusion usually applies to cash or precious metals.
When or for whom is a valuables insurance worthwhile, from what value
With such insurance, you can insure targeted favorite objects against various risks, such as theft, damage/destruction, loss, misplacement and loss. A certain basic coverage is already included from the Household contents insurance but only if the damage or loss is caused by fire, natural hazards, theft or water damage. In case of self-inflicted damage, the household insurance does not normally cover the damage. In addition, valuables are normallyonly insuredup to around CHF 20,000 in the basic household insurance cover.
Valuables insurance is therefore worthwhile for anyone who wants to insure their favorite objects against more risks and especially if the total value is higher than CHF 20,000.
You can include your favorite object in a policy with many insurance companies starting at a new value of CHF 500.
Difference valuables insurance and coverage from household insurance
A household contents insurance is a coverage for all mobile objects contained in the home, such as furniture, clothes, decorations, etc. In it can also be insured some valuable objects, such as pictures, vases, carpets, etc., or other expensive objects, such as laptops, smartphones or TVs. However, the coverage from the household insurance is usually limited for expensive/valuable objects, on the one hand to the insured risks (if no household insurance is insured, for example, damage, loss or misplacement and loss is not insured) and also the amount is specifically limited for valuables to an average of CHF 20,000.
With a valuables insurance, on the other hand, your favorite objects are insured up to the initial sum agreed in the policy, which can go far beyond CHF 20,000, and even if you were to damage the object yourself, this would be covered by the valuables insurance.
Another difference is that homeowner’s insurance insures household contents in general. Accordingly, no explicit list of objects is made, not even of the valuables in the normal case. Valuables insurance, on the other hand, requires that each individual item be listed and marked with the appropriate value on the policy.
Important tips when taking out a valuables insurance policy
Every single object must be mentioned on the policy, so think carefully about what you want to insure. It is best to look for receipts, sales contracts or other documents that can describe the value of the objects.
It is also important to keep these receipts.
Insure each item at replacement value and note any associated accessories as well.
Check if you already have items insured in the homeowners policy that you would like to include in the valuables policy, and remove them from the homeowners policy or total to save on premiums.
Valuables insurance cost
But how much does a valuables insurance in Switzerland cost anyway? Is this only for rich people, or only for luxury properties? No, valuables insurance is recommended for anyone who wants to optimally protect their favorite objects, because such items not only have a price value, but often also an emotional value. Depending on the insured amount, there are offers starting at just under 55.- per year for an insured value of CHF 5’000. The choice of deductible then naturally also plays an important role.
