The day Paul lost everything: How home insurance and valuables insurance could have helped

Paul had a comfortable life in his charming apartment in the heart of Bern. He was an avid collector of art and antiques and had built up an impressive collection over the years. But one night his life was turned upside down. Paul had never thought to take out household contents and/or valuables insurance. “That only happens to other people,” he thought. But one night, everything changed.

The break-in

It was a cold, dark night. Paul was visiting friends and came home late. When he opened the door to his apartment, he immediately noticed that something was wrong. The door was open and the lock had been broken. He entered with a queasy feeling and saw the chaos. Drawers had been ripped out, furniture had been knocked over and his valuable collector’s items had disappeared.

The loss

The thieves had taken everything that was valuable and damaged a lot of the furniture. Paul’s works of art, antiques and electronic devices – everything was gone. The material damage was immense, but the emotional loss was even greater. Many of the stolen items had a priceless sentimental value. Paul was devastated and didn’t know how he would ever be able to replace these losses.

The costs

Without contents insurance and valuables insurance , Paul had to bear the cost of replacing the stolen items himself. He had no savings to cope with such a huge financial blow and was faced with the difficult decision of which of his possessions he could afford to replace and which were lost forever.

Real costs of a burglary in Switzerland:

• Replacement of electronic devices: New electronic devices can cost several thousand francs.
• Replacement of works of art and antiques: The value of works of art and antiques can be between 50,000 and 100,000 francs, depending on their rarity and condition.
• Repair costs for burglary damage: The repair of doors, locks and other damaged parts can cost between 2,000 and 5,000 francs.

The laborious reconstruction

Without insurance, Paul had to borrow money and reorganize his finances to replace the stolen items. He had to give up many of his hobbies and leisure activities to pay off the debt. The financial pressure and emotional strain took their toll on him and it took years for him to recover to some extent.

Analysis

How could household contents insurance and valuables insurance have made the difference for Paul? Comprehensive home contents insurance combined with valuables insurance would have covered the cost of replacing the stolen items and would also have covered the repair costs for the burglary damage. Paul would not have had to worry about the financial consequences and could have recovered more quickly from the emotional shock. In addition, many insurance policies also offer a 24-hour emergency service that provides immediate support in such situations.