Collective home contents insurance for students
The moment at which you move out of your parents house is usually an exciting time in your life. A lot of activities are involved along with moving into a student dorm room, like moving and purchasing things for your new room. These items have a considerable value all together. This is the reason why it is important that your home contents are insured against possible damage.
It often happens that the landlord takes out a collective contents insurance for everyone in the house. This is referred to as a collective home insurance policy.
The most important question is whether the covered amount meets the total value of the items that you want to bring with you to your new house. Read more about taking out collective home contents insurance.
What is a collective home contents insurance?
A collective home contents insurance policy exists especially for groups, such as a group of students in a student dorm. The entire group is insured equally and insurers often give a discount. As a result, the group generally pays a lower monthly premium than they would pay if everyone would take out a household contents insurance separately.
What does a collective home contents insurance cover?
The most important matters covered by a collective home contents insurance are described in the policy conditions.
You usually receive compensation for damage to your household effects caused by the following items:
- The outbreak of a fire
- Water damage, caused for example by breaking an aquarium or a leak
- (An attempt at) burglary and vandalism
In addition, a collective home insurance policy offers additional assistance.This assistance can consist of:
- Assistance by telephone from the service center 24/7
- 24 hour emergency repair service for all damages that can be rectified at that very moment
- Arranging a replacement accommodation and transportation to the property insured
- Replacing key and key work (if you lose keys or if they are stolen).
The coverage may differ per insurer
It is always wise to inquire with the landlord in advance whether it has taken out collective home contents insurance policy and what it does and does not cover in case of damage. The coverages listed above are not always offered in every collective household insurance policy. Insurers can describe other coverages in their policy conditions.
Value of extra contents
When you take out home contents insurance, always remember that there is a possibility that you will purchase additional items during your study period. When you calculate this value correctly, you ensure that you are not underinsured in the future.
Traces of burglary
Often the policy conditions state that for the insurer to compensate burglary damage, the house must have visible traces of burglary.
Insurance package for students
In many cases, students have the opportunity to take out an insurance package. This package usually consists of a home contents insurance as well. Furthermore, an insurance package is often cheaper than when you take out all insurance policies separately.
Do not throw away receipts
It is wise to keep the receipts of your purchases. An insurer can ask for this at the moment you want to claim damages. Another tip for claiming home contents insurance policies is to take pictures of all valuables in your room, so you can show they actually were present in your room.